abatement

A reduction in the sale price of a home, usually because of something the seller did not pay, or when the seller has failed to disclose a defect in the property.

For example, if there is an underground hydro line running across the back of a property, with a right-of-way on either side of it, this might prevent a buyer from building a garage. If a buyer completes a deal and the hydro line was not mentioned to them previously, they could ask the seller for an abatement.

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