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May 26, 2012, 12:54:18 AM

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Real Estate Investing Forums  |  Real Estate Investing  |  Asset Protection, Legal and Contract Issues, Income Taxes, 1031 Exchanges (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: HELP! Any possible Sellers disclosure recourse? « previous next »
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halcyongroup
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« on: August 18, 2003, 10:12:10 PM »

Ok, my situation is that I recently closed on a SFH that only had a disclosure for some foundation repairs. The property had been inspected by a licensed inspector and had been deemed in good overall condition. However, during some light remodeling (new paint)...the A/C was on for the whole day and we discovered that a crack in the ceiling had been covered up and was leaking water pretty quickly.

Now this is my first home, so obviously I am new to all this.  I am just wondering what recourse or how I should approach solving this outside of just trying to fix it myself. If I had known about this, purchase price would have been affected to accomodate repairs...Is there any recourse I have to getting this taken care of?

Please help!!

hal
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WilliamGA
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« Reply #1 on: August 23, 2003, 03:42:26 PM »

Hal,

This is exactly why I don't care for these so called "licensed inspectors". You pay them to do a property inspection, they say it is "ok" and you find problems. Once you find problems you have to try to go back to your seller to get satisfaction via their disclosure. UGGGGHHHHHH!!!!!!!!

You pay them but they have no accountability.

"Errrr......Gee, it worked when I inspected it."

I always buy "as is" so I have never went back on a seller to make a claim based on their disclosure but as I understand it, if you can prove that they lied about a problem, they can be made to make good on it.

Now I suppose that proving they had knowlege of the problem would be the tricky part. You would most likely have to find out who did the cover up repair work. That could be difficult.

Unless it was a MAJOR problem with a big price tag I would probably just suck it up and make the repair.

Better yet, try to make your inspector pay for it.
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William Tingle
http://www.Sub2Deals.com
Everything u read on the net MUST be true....... Right?
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Real Estate Investing Forums  |  Real Estate Investing  |  Asset Protection, Legal and Contract Issues, Income Taxes, 1031 Exchanges (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: HELP! Any possible Sellers disclosure recourse? « previous next »
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