Failure to Disclose Home's Foundation Defects Cost Sellers
The law firm of Kobs & Philley, PLLC is happy to announce another successful resolution for the Plaintiffs in a case filed in Madison County. In this case, Plaintiffs purchased a home in Madison County after inspecting the property on multiple occasions prior to entering into a purchase agreement. The homeowners also exercised due diligence in having a home inspector inspect the property. In relying on the seller’s disclosure statement and other representations made by sellers that there were no previous foundation repairs nor known foundation problems or defects with the home, the Plaintiffs agreed to purchase the property.
After moving into the home, the homeowners started noticing shifting in the foundation and cracks manifested inside the home. After having a licensed foundation repair company inspect the property, it was determined that the home needed multiple pilings installed underneath the home. During installation of the pilings, the foundation repairmen found pilings already existing under the home. The pilings clearly evidenced the pre-existing foundation repairs made to the home prior to the homeowners purchasing the property.
After learning of the foundation repairs and after finding additional repairs evidencing concealment of cracks and realignment of doors on the interior of the home, Plaintiffs filed a lawsuit seeking rescission and monetary damages for the expenses they incurred as a result of the previous owners’ failure to disclose the foundation defects. After extensive litigation, Plaintiffs prevailed on Defendants’ Motions to Dismiss the homeowners’ claims. As a result, the homeowners were able to negotiate a settlement to recoup damages for their loss.
If you have ever purchased a home, you know the excitement and joy that
being a homeowner brings. However, things can turn sour very quickly when
you are faced with extensive repair bills and unexpected construction
costs that are incurred due to the previous homeowners’ failure
to disclose certain defects with their home. If you have suffered damages
through the purchase of a home that had pre-existing foundation problems
or other defects that were not truthfully disclosed to you prior to closing,
you may be entitled to compensation. You should immediately discuss your
potential claims with an attorney as time is very important to remedying
If you have any questions or concerns about a home you recently purchased or for any other legal issues you may have, please call the personal injury lawyers at Kobs & Philley, PLLC, at (601) 863-8170.