How long is a disclosure statement legally binding?

Question

We purchased a home 18 months ago and just realized an extensive foundation crack. The previous home owner stated that previous water damage had occurred, but that he fixed it. Since we purchased the home during the dryer (summer) months and the room was finished, no problems were identified. During the spring we did notice some water in the carpet. Recently after heavy rains, the room became flooded. We pulled back the carpet only to realize a large crack the length of the floor. Furthermore, the carpet wood tack was completely rotten from water damage. It is clear this was not recent structural damage and the previous home owner had knowledge. Do I have legal recourse?

Answer 1

This is going to be a tough one, given the amount of time which has passed. The owner perhaps DID remedy the situation to proper standard prior to sale, and perhaps the remedy did not hold permanently.

If the owner can supply evidence that repairs were done, you might be on your own on this one, since the owner then did not lie on the disclosure. Maybe the repair contractor offered a warranty, and you might investigate that potential.

OR, it is possible that the large floor crack appeared AFTER your purchase. In any event, it's going to be your responsibility to prove to a court that the former knowingly withheld information concerning the situation, and that is generally a difficult case to prove.

Answer 2

Yes you do. However you must prove that the previous home owner had clear evidence that there was a crack. I`m sure you had a house expectation done you can go after them as well. But this will cost you attorney`s fees. Check the cost of the repair verses the cost of the atty. You can fix it have a atty send out letters to all parties and see what happens then make your mind up what direction you wish to go.