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Nightmare house
- Thread starter USAF_Vet
- Start date
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I am dealing with a family member that has a house in Florida. He has lived in the house for 1.5 years and has had some bad luck while living there.
Right now we are dealing with a foundation issue with the house and after having a family contractor take a look at it he feels this has been an ongoing issue which wasn't disclosed. We have had a couple of neighbors approach the home owner stating the previous home owners had to have the house raised due to foundational issues. Sadly everyone says we can't go after the previous homeowner due to living in the house for 1.5 years. In order to resolve or fix the issue its going to cost around 20k to fix this right. He can't afford it and is debating on letting the house go back to the bank.
Does anyone have any recommendations or thoughts as to what we could do? Can the banks provide any relief to the current loan?
Right now we are dealing with a foundation issue with the house and after having a family contractor take a look at it he feels this has been an ongoing issue which wasn't disclosed. We have had a couple of neighbors approach the home owner stating the previous home owners had to have the house raised due to foundational issues. Sadly everyone says we can't go after the previous homeowner due to living in the house for 1.5 years. In order to resolve or fix the issue its going to cost around 20k to fix this right. He can't afford it and is debating on letting the house go back to the bank.
Does anyone have any recommendations or thoughts as to what we could do? Can the banks provide any relief to the current loan?
justalayman
Senior Member
The year and a half should not bar him from acting in this matter. He should consult an attorney who can review the sellers disclosure and any other pertinent documents and give him an opinion on the matter.
The bank is not obligated to do anything here and isn't likely to do anything.
Did he have the home inspected prior to purchasing it?
The bank is not obligated to do anything here and isn't likely to do anything.
Did he have the home inspected prior to purchasing it?
Yes, the house was inspected and nothing was found. If they did a solid band-aid fix and nothing was visible to be able to escape from the house I'm not sure how he shows the previous homeowner had knowledge. Nothing has to be disclosed if they assume they "fixed" the issue correct?
justalayman
Senior Member
you would have to read the disclosure itself to determine if the required past issues that are believed to be repaired. Some states require prior issues even if they are believed to have been repaired.
How do you prove they knew of foundation issues?
also, a defect generally is not going to allow for a rescission of the sale. More often one would seek damages in the amount of the cost of repairs. It is quite difficult to unwind a sale unless the seller is flush with cash and can essentially buy back the property.