[SK in CV]

That’s two good questions!! But not being a real estate attorney nor a broker, I don’t know the answers to either question. I suspect you are only required to disclose what you know. If you learn that the defects are significant, you probably won’t want to buy the house. If you learn they’re insignificant there’s nothing to disclose. But get better advice before you sell the house you haven’t purchased yet 🙂

[SK in CV]

That’s two good questions!! But not being a real estate attorney nor a broker, I don’t know the answers to either question. I suspect you are only required to disclose what you know. If you learn that the defects are significant, you probably won’t want to buy the house. If you learn they’re insignificant there’s nothing to disclose. But get better advice before you sell the house you haven’t purchased yet 🙂

[SK in CV]

That’s two good questions!! But not being a real estate attorney nor a broker, I don’t know the answers to either question. I suspect you are only required to disclose what you know. If you learn that the defects are significant, you probably won’t want to buy the house. If you learn they’re insignificant there’s nothing to disclose. But get better advice before you sell the house you haven’t purchased yet 🙂

[SK in CV]

That’s two good questions!! But not being a real estate attorney nor a broker, I don’t know the answers to either question. I suspect you are only required to disclose what you know. If you learn that the defects are significant, you probably won’t want to buy the house. If you learn they’re insignificant there’s nothing to disclose. But get better advice before you sell the house you haven’t purchased yet 🙂

[SK in CV]

[quote=infoseeker]Hi SK, thanks for the inputs… the note in the disclosure says that it was settled out of court. So does it mean a deposition might not have happened? Anyways its a good point that you mentioned that we could ask the correspondence between the attorneys and sellers[/quote]

At least 95% of CD cases settle before a trial starts, and most that get that far settle before it goes to a jury. Of the 100’s of cases I’ve been involved with (on the consultant side), maybe 15 to 20% get as far as homeowner depositions, most settle at some stage before that. (I can only recall 2 that got to a verdict, out of probably 300 cases, involving maybe 10,000 homes over the last 10 years.) Also, some settlements include non-disclosure clauses prohibiting the plaintiffs from disclosing settlement terms. If the sellers make that claim, call bullshit. You don’t need to know anything about the settlement terms. You only need to know about the claims, those are not part of standard non-disclosure clauses. As I said, the claims might be bogus or incidental, but at least you can have the opportunity to investigate their veracity.

[SK in CV]

[quote=infoseeker]Hi SK, thanks for the inputs… the note in the disclosure says that it was settled out of court. So does it mean a deposition might not have happened? Anyways its a good point that you mentioned that we could ask the correspondence between the attorneys and sellers[/quote]

At least 95% of CD cases settle before a trial starts, and most that get that far settle before it goes to a jury. Of the 100’s of cases I’ve been involved with (on the consultant side), maybe 15 to 20% get as far as homeowner depositions, most settle at some stage before that. (I can only recall 2 that got to a verdict, out of probably 300 cases, involving maybe 10,000 homes over the last 10 years.) Also, some settlements include non-disclosure clauses prohibiting the plaintiffs from disclosing settlement terms. If the sellers make that claim, call bullshit. You don’t need to know anything about the settlement terms. You only need to know about the claims, those are not part of standard non-disclosure clauses. As I said, the claims might be bogus or incidental, but at least you can have the opportunity to investigate their veracity.

[SK in CV]

[quote=infoseeker]Hi SK, thanks for the inputs… the note in the disclosure says that it was settled out of court. So does it mean a deposition might not have happened? Anyways its a good point that you mentioned that we could ask the correspondence between the attorneys and sellers[/quote]

At least 95% of CD cases settle before a trial starts, and most that get that far settle before it goes to a jury. Of the 100’s of cases I’ve been involved with (on the consultant side), maybe 15 to 20% get as far as homeowner depositions, most settle at some stage before that. (I can only recall 2 that got to a verdict, out of probably 300 cases, involving maybe 10,000 homes over the last 10 years.) Also, some settlements include non-disclosure clauses prohibiting the plaintiffs from disclosing settlement terms. If the sellers make that claim, call bullshit. You don’t need to know anything about the settlement terms. You only need to know about the claims, those are not part of standard non-disclosure clauses. As I said, the claims might be bogus or incidental, but at least you can have the opportunity to investigate their veracity.

[SK in CV]

[quote=infoseeker]Hi SK, thanks for the inputs… the note in the disclosure says that it was settled out of court. So does it mean a deposition might not have happened? Anyways its a good point that you mentioned that we could ask the correspondence between the attorneys and sellers[/quote]

At least 95% of CD cases settle before a trial starts, and most that get that far settle before it goes to a jury. Of the 100’s of cases I’ve been involved with (on the consultant side), maybe 15 to 20% get as far as homeowner depositions, most settle at some stage before that. (I can only recall 2 that got to a verdict, out of probably 300 cases, involving maybe 10,000 homes over the last 10 years.) Also, some settlements include non-disclosure clauses prohibiting the plaintiffs from disclosing settlement terms. If the sellers make that claim, call bullshit. You don’t need to know anything about the settlement terms. You only need to know about the claims, those are not part of standard non-disclosure clauses. As I said, the claims might be bogus or incidental, but at least you can have the opportunity to investigate their veracity.

[SK in CV]

[quote=infoseeker]Hi SK, thanks for the inputs… the note in the disclosure says that it was settled out of court. So does it mean a deposition might not have happened? Anyways its a good point that you mentioned that we could ask the correspondence between the attorneys and sellers[/quote]

At least 95% of CD cases settle before a trial starts, and most that get that far settle before it goes to a jury. Of the 100’s of cases I’ve been involved with (on the consultant side), maybe 15 to 20% get as far as homeowner depositions, most settle at some stage before that. (I can only recall 2 that got to a verdict, out of probably 300 cases, involving maybe 10,000 homes over the last 10 years.) Also, some settlements include non-disclosure clauses prohibiting the plaintiffs from disclosing settlement terms. If the sellers make that claim, call bullshit. You don’t need to know anything about the settlement terms. You only need to know about the claims, those are not part of standard non-disclosure clauses. As I said, the claims might be bogus or incidental, but at least you can have the opportunity to investigate their veracity.

[SK in CV]

Technically, it was not a class action law suit. Class action lawsuits are brought in federal court, construction defect litigation is (generally) a state court issue. CD litigation is often multiple plaintiffs with similar, though often not identical claims.

Often homeowners are promised something for nothing by attorneys, and sometimes get it. Sometimes (but certainly not always), the defects claimed are insignificant, and depending on when the house was first sold, may not even include any actual damage or even claims of damage. Additionally, homeowners are often not even aware of the actual claims made on their behalf, and short of an actual trial (or deposition), most evidence of defects developed by the plaintiff’s attorneys and consultants are priveleged, and the homeowner never sees it.

That said, you should probably request all correspondence between the seller and their attorneys and find out exactly what the significant claims were and have your own inspector investigate those claims. If the litigation reached deposition stage, and the homeowners were deposed, demand a copy of their deposition transcript. (Most CD litigation does not reach that stage.)

[SK in CV]

Technically, it was not a class action law suit. Class action lawsuits are brought in federal court, construction defect litigation is (generally) a state court issue. CD litigation is often multiple plaintiffs with similar, though often not identical claims.

Often homeowners are promised something for nothing by attorneys, and sometimes get it. Sometimes (but certainly not always), the defects claimed are insignificant, and depending on when the house was first sold, may not even include any actual damage or even claims of damage. Additionally, homeowners are often not even aware of the actual claims made on their behalf, and short of an actual trial (or deposition), most evidence of defects developed by the plaintiff’s attorneys and consultants are priveleged, and the homeowner never sees it.

That said, you should probably request all correspondence between the seller and their attorneys and find out exactly what the significant claims were and have your own inspector investigate those claims. If the litigation reached deposition stage, and the homeowners were deposed, demand a copy of their deposition transcript. (Most CD litigation does not reach that stage.)

[SK in CV]

Technically, it was not a class action law suit. Class action lawsuits are brought in federal court, construction defect litigation is (generally) a state court issue. CD litigation is often multiple plaintiffs with similar, though often not identical claims.

Often homeowners are promised something for nothing by attorneys, and sometimes get it. Sometimes (but certainly not always), the defects claimed are insignificant, and depending on when the house was first sold, may not even include any actual damage or even claims of damage. Additionally, homeowners are often not even aware of the actual claims made on their behalf, and short of an actual trial (or deposition), most evidence of defects developed by the plaintiff’s attorneys and consultants are priveleged, and the homeowner never sees it.

That said, you should probably request all correspondence between the seller and their attorneys and find out exactly what the significant claims were and have your own inspector investigate those claims. If the litigation reached deposition stage, and the homeowners were deposed, demand a copy of their deposition transcript. (Most CD litigation does not reach that stage.)

[SK in CV]

Technically, it was not a class action law suit. Class action lawsuits are brought in federal court, construction defect litigation is (generally) a state court issue. CD litigation is often multiple plaintiffs with similar, though often not identical claims.

Often homeowners are promised something for nothing by attorneys, and sometimes get it. Sometimes (but certainly not always), the defects claimed are insignificant, and depending on when the house was first sold, may not even include any actual damage or even claims of damage. Additionally, homeowners are often not even aware of the actual claims made on their behalf, and short of an actual trial (or deposition), most evidence of defects developed by the plaintiff’s attorneys and consultants are priveleged, and the homeowner never sees it.

That said, you should probably request all correspondence between the seller and their attorneys and find out exactly what the significant claims were and have your own inspector investigate those claims. If the litigation reached deposition stage, and the homeowners were deposed, demand a copy of their deposition transcript. (Most CD litigation does not reach that stage.)

[SK in CV]

Technically, it was not a class action law suit. Class action lawsuits are brought in federal court, construction defect litigation is (generally) a state court issue. CD litigation is often multiple plaintiffs with similar, though often not identical claims.

Often homeowners are promised something for nothing by attorneys, and sometimes get it. Sometimes (but certainly not always), the defects claimed are insignificant, and depending on when the house was first sold, may not even include any actual damage or even claims of damage. Additionally, homeowners are often not even aware of the actual claims made on their behalf, and short of an actual trial (or deposition), most evidence of defects developed by the plaintiff’s attorneys and consultants are priveleged, and the homeowner never sees it.

That said, you should probably request all correspondence between the seller and their attorneys and find out exactly what the significant claims were and have your own inspector investigate those claims. If the litigation reached deposition stage, and the homeowners were deposed, demand a copy of their deposition transcript. (Most CD litigation does not reach that stage.)

[SK in CV]

[quote=Nor-LA-SD-guy]
Yes it would definitely encourage rental property investment.[/quote]

Why more than now? (yes, this is a test)

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