Construction Defect Litigation What You Don't Know. Part 1

Written by on 3/2/2014 5:07 PM . It has 0 Comments.

Construction Defect Litigation Reduces Property ValuesYou have lived in your home about 9 years now.  In today's mail you get a letter from an attorneys office.

This very official letter is telling you that you are about to lose some very important rights if don't act quickly.

The time to act is now or you wont be able to file a construction defect law suit against the builder and the builders family of your home.

In this letter of course there are promises of lot of money you will be losing if you don't act now.  Also as you read it gets worse.  More and very scary comments all designed to trick you into taking action!  All promising if you don't join in with your friends and neighbors that already have taken action to protect their rights you will be hurting your family and of course will need participate in the great financial rewards everyone else will be getting.

Here is why you might want to reconsider joining in this fraud.  (My definition of fraud would be to knowingly saying something happened, or is wrong when I know it didn't happen, or isn't wrong in order to extort or cheat another person out of money or goods)

 


 

First and foremost is there really anything wrong with your house?  If there is what have you done to try and fix it?  Have you called the builder and said "hey my roof just fell in?  Or my slab floor is wet and seems like water is running under my foundation?"  Has your roof really been leaking for the past 9 or so years?  Or is it just the gutters need cleaned out?  The list goes on.

Please note that there are sometimes real issues with a house that need and deserve attention from the builder.  My advice it to call the builder and have them come take a look.  (more on that in a minute.)

If there really isn't anything wrong with your house and you join one of these suits then let me just tell you what I would tell me children and grand children.  I would ask anyone I cared about "Are you sure you want to do something that is wrong on purpose?"  Consider that you are free to choice your actions, but the results of your actions are not yours to choice.  Have you ever felt guilty about something you did wrong?  Why would you ever want to feel that way?  For money?  Well let me tell you if you said yes for money I would go through this why this is the worse way to make money on defective construction litigation because it hurts the value of an asset you own.  (I will share with you the way to really cash in on defective construction litigation in a bit.)  Actually I am about to say will forever change the way you look at how to make money the "quick and dirty way from construction defect while giving you millions of properties do it on.   In fact if you follow my advice you will actually be making money off people that actually will deserve what they are getting.  So you can even feel good about it!

Here is the other part of the story that the letter from the attorney didn't share with you.  

If there is really nothing wrong with your home you are not going to make a lot of money by joining any suit and wont make enough to even fix the defects you claim you have.  So your home will always be defective unless you take the money out of your pocket and pay to fix it.  The only ones that make money are the attorneys!  That is just a fact.

What really happens to your homes value?  Some times a good visual helps.  If there are two homes exactly the same.  One says nothing is wrong with their home, and the other discloses to you that they filed a suit (which they must by law) and claimed the home was defective.  They were paid $10,000 but never did the repairs which according to their signed complaint was in excess of $100,000...  Well how would you look at the two homes?  More importantly which one would you buy?  Which one would you think was worth more?  Here is a link to an article on this topic just so you don't think that Grant doesn't know what he is talking about.  CLICK  HERE

Construction Defect Litigatioin

 

 

The Value Of Your Home Before You Signed A Sworn Statement that it was defective!                     

Construction Defect Litigation Does this to your homes value

The Value Of Your Home Now That You Swear It Is Defective!

 

The value of your home will go down the day you agree to enter into one of these lawsuits!  Here is why.  

You are going on public record stating your home is defective.  When and if you finally settle you will not get enough money to fix all the stuff your "new letter writing friends" will claim is wrong with your home.  They make all the money, not you!  So now you have lets say $100,000 worth of defects and a check for $10,000 to fix them.  When you sell your home you must disclose that your home is defective, you were part of a lawsuit and you didn't fix the defects.

What if you don't disclose my home has construction defects?

AKA for those that are still reading and want to know of to really cash in on Construction Defect Litigation and Make a Ton of Money!!!!

This is so simple I should take out a infomercial and charge $1,000 for the idea.  

Four simple steps to making a ton of money fast on construction defect litigation! 

  1. 1.  seek out homes in defective construction cases to buy.  The list is easy to get online public record.  
  2. Just start making offers on homes that were in construction defect litigation.  When you get the disclosures and it isn't disclosed make sure and buy it.  If it is disclosed, well then back out of the deal.  I mean who wants to buy a defective house anyway?  
  3. If the seller didn't , then the seller and their Realtor have a real problem on their hands.  
  4. I would find an attorney like the ones that send out these letters to you, and have them send some out for me.  Don't worry you wont even have to go to court. 

I hope I have helpfully illustrated that your home will lose market value.  In this past year housing prices have begun to climb again.  Do you really want to now and forever say your home is defective?  If it is why not just call your builder and get it fixed.  You don't have to sue to get your home fixed.  You do have to sue if you want to get some cash and not fix your home.  But they you can never ever sell it without disclosing it.  And now that I have let the real cat out of the bag... anyone that has sold or will sell without the proper disclosure is really going to lose everything as they should.  Disclosure is required by law.  Ask a Realtor if you don't believe me.

What should you do if something is wrong or you are worried something is wrong with your home?

First and foremost call the builder.

I have never met a builder that doesn't want to fix a problem, even well after they would be required to fix it by law.   Most take pride in their projects and have a real desire to make things right.

Sometimes you will actually have a construction defect of large size.  I have seen it happen.  What then?  Same advice start with calling your builder.  If it is a real problem they will want to fix it as bad as you want it fixed.

I hope this helps.  This is just the first part in this series of blogs. I and GDI have for over 30 years insured contractors, developers, commercial and residential.  Large and small all over the place.  If you have any questions please give me a call.

Thank you.  Grant Davis
Ps.  Watch for the next blog on this topic.

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