the main beam in my house is cracked and 6 floor joysts are cracked, the septic system had backed up into the home and underneath and when it rains a "pond" of water settles in one end of my home..insurance doesnt want to cover it.. and the appraisel says no apparent structual, floor, etc damage.. if i can prove other wise , maybe that the house was bought under false pretences or something, something to get it covered is there a way??? I also have BLACK MOLD growing under my house because of the problem... Please someone help in anyway u can...
2006-07-19 03:51:00 · 7 answers · asked by tiggergurl 1 in Business & Finance ➔ Renting & Real Estate
I'm very sorry to hear what you are going through.Yes Foreclosures are sold as is but there not always dumps as others have stated.Unfortunately with all those issues that is probably why the previous home owners let it go(same as you).What you can do is find an Real Estate Investor to Short sale(discount) the property due to the properties condition.Also appeal your taxes with the town due to the condition of the property and most likely will lower your property taxes.Call 211 or go to www.211.org to see if there are non- profit agents that can help in your distress.
Good Luck..
Real Estate Investor
2006-07-19 13:38:24 · answer #1 · answered by innovativeinvest@sbcglobal.net 2 · 1⤊ 0⤋
You were out of luck after one year when your warranty expired on the purchase regarding going back and trying to take legal action against the appraiser.
You need to move on, and cut your losses. Chances are with this amount of damage, you aren't really telling the entire story, like the part about your great deal on a foreclosed home.
Did you have an inspector look at it or just the appraiser? Your answer is just the appraiser because any inspector worth their salt would have caught joist or foundation issues or roof leaks, and these matters can lead to many of the problems you are having.
I'm really sorry you had to learn a hard lesson this way, yet there is no way you will sell the home for any good money because the repairs may exceed the actual value of the structure. The best you can hope for is an increase in land value.
No person, outside of a crook, can help you.
Next time you will be more knowledgeable and that's good.
2006-07-19 04:34:43 · answer #2 · answered by rightonrighton 3 · 0⤊ 0⤋
Did you have a home inspection? Most foreclosures are sold strictly AS IS. Most people think they are getting a good deal, but they are actually buying a dump that the previous owners didn't bother maintaining (much less make their mortgage payments). I don't think you have a leg to stand on. If you can find your contract you will probably see that you purchased your home as-is. You're stuck with the problem unfortunately. However, if your contract was contingent upon a home inspection and the inspector didn't find or disclose any of these issues to you then you might have a case against them, but it doesn't sound like it to me. It sounds like you bought a dud 2 years ago, and now all of these issues are material facts that you will have to disclose when you go to sell the house. I'd find a good home improvement contractor, mold remediater, and get a new septic system if I were you. Good luck.
2006-07-19 04:03:24 · answer #3 · answered by akc1106 4 · 0⤊ 0⤋
Depends on the state you live. In WV, if you did not have an inspection and the defects could have been revealed by a reasonable inspection, then you are out cold. If an inspection would not have found the defects, then the seller has a duty to disclose. The SOL in WV is 10 years on contracts and 2 years on property damage. A good place to start is the state code and case law. Good luck!
2006-07-19 03:57:54 · answer #4 · answered by jeannieunderwood2003 2 · 0⤊ 0⤋
When you buy a house with foreclosure, those are the risk that a customer is taking. But you should had send an inspector before buying that house, even if you had to pay to him. Now is actually to late. You going to have to do some repairing in your house so the house don't lose its value.
Good Luck, I hope you solve your problem soon. We also have a foreclosure home, but thanks God everything is OK, just some minor repairing to do.
2006-07-19 04:36:12 · answer #5 · answered by Evy 4 · 0⤊ 0⤋
How long ago was this transaction?
if it was a while back, chances are you are stuck with the problem...
if you have euity in your home, maybe a cash out refinance to repair the problems is a good option for you..
If you want to know a little more about what you would qualify for, feel free to call me...
My name is Jason Fry, i work with Providential Bancorp, a nationwide mortgage lender. Call me at 312-264-6448, or email me at jasonf@providential.com
thanks, and good luck!
2006-07-19 04:02:12 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Hire an attorney who specializes in real estate.
2006-07-19 03:58:42 · answer #7 · answered by Anonymous · 0⤊ 0⤋