I bought a home that was brand new and told I have a year warranty on a house. If no repairs are finishes have been done within the year. Can I get out of my house and use my loan tords another home?
2007-11-30 02:39:15 · 4 answers · asked by Miss T 1 in Business & Finance ➔ Renting & Real Estate
I recommend that you hire an attorney who specializes in real estate law.
The first step would be a letter from your attorney to the builder to educate the builder about his responsibilities to you and the legal consequences to the builder if he continues to faile to meet his oblications to you.
Often a letter from an attorney is all it takes to get performanse.
If the letter does not solve the problem, then your attorney will need to take further legal action against the builder.
2007-11-30 03:21:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In the US the loan is tied to the property (since the collateral for the loan is the property). You cannot use a mortgage towards another home, you have to get a new mortgage for a different home.
Keep calling the builder and make them schedule the repairs. In this case the squeaky wheel gets the grease. Make sure they know you need things fixed.
good luck!
2007-11-30 11:33:11 · answer #2 · answered by Rush is a band 7 · 0⤊ 0⤋
No, you cannot back out of the purchase because of tardy repairs to the property. Your option is to place pressure on the home builder to handle the issues involved. If you still do not get satisfaction, then it's time to head to small claims court or regular court to obtain satisfaction.
2007-11-30 10:45:36 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
Not likely, but you can probably sue the builder to complete the items.
2007-11-30 10:42:56 · answer #4 · answered by Judy 7 · 0⤊ 0⤋