You have no claim against the seller or your broker for any defects which you reasonably should have discovered by a normal walk-through and visual inspection of the house. That includes taking a look at the faucets, turning them on and off, and turning on the oven. Relative to the cost of the house, repairing and replacing those items is not that much. If that's all that's wrong, you're in good shape.
The same test applies to the floor under the carpet. If the floor was soft and spongy when you walked across it, then you should have discovered it. If the damaged area was covered by furniture or could not be felt through the carpet and pad, then you may have a claim. How did you discover this water damage?
What caused the water damage? How bad is the damages? Is it just some staining?
Your damages are NOT the cost of repair. In court, you can only collect the difference between what you paid for the house and the market value of the house when you bought it, if a reasonable seller and buyer had known all about the damage. In a sellers' market like we have now, such defects might not have caused the seller to lower the price.
If you appreciate this free advice, please remember to refer me to any friends or acquaintances who need a lawyer. Referrals are still our best source of new business.
Do you have a revocable living trust to protect your heirs against probate? Probate takes forever, is expensive, and is annoying. Do your family a favor. Set up a trust, and put all your property, especially any real property, into the trust. Since it is revocable, you can change it, add to it, take property out of it, or even cancel it completely, at any time. We set up such trusts, provide a pour-over will as a back-up for any property that does not make it into the trust, provide you with blank durable powers of attorney for health care and financial decisions, in case you become incapable of making such decisions while still alive, and convey one piece of real property to the trust, usually the family home, for $1500.00. If you would like to hire me to do this, let me know, and I'll send you a list of the information I need.
Dana Sack
Answered on Sep 28th, 2017 at 11:36 AM