What was the problem when I Sold my House?

Allfriends wrote: ↑ ok, I sold my house last winter and moved away. a month or two after the sale went through, the agent called and said the buyer found a leak in the porch and had spent a lot to have it fixed including some amount (not sure how much) of work to rebuild the porch.

Who should I sue for unexpected home defects on my house?

What if something was wrong with your house at the time of purchase and someone—the seller, the property seller’s real estate agent, or the inspector—could have or should have told you about it beforehand, but failed to do so?

Can a sold house now buyer threatening to sue?

Sold house now buyer threatening to sue! Sold house now buyer threatening to sue! ok, I sold my house last winter and moved away. a month or two after the sale went through, the agent called and said the buyer found a leak in the porch and had spent a lot to have it fixed including some amount (not sure how much) of work to rebuild the porch.

Can you sue a seller for hidden defects?

In sum, you cannot file a lawsuit any time you find a little crack or scratch. Defects must be material, known to the seller, and unknown to you at the time of sale if you are to have a reasonable chance of recovery. Who Is Responsible for Hidden or Undisclosed Home Defects?

Can a seller have hidden problems with a home?

The seller couldn’t have hidden problems that didn’t exist during the period of ownership. Again, problems that started post-purchase or that are a natural result of the home’s aging or your lapses in maintenance are yours to deal with. Of course, determining when a problem started can get complicated.

How many stores are there for Hello fresh?

Hello Fresh acquired Boulder-based meal kit service Green Chef. [1] Hello Fresh revenue is up 90% this year and it has more than doubled its U.S. customers to 890,000. [1] Hello Fresh shares have grown 40% since the IPO last year. [1] Hello Fresh announced that its meal kits will be available in almost 600 Giant Food Stop & Shop stores. [2]

Can a defect have started before you bought a house?

But if the problem could have started before you bought the house, keep reading. It’s not an obvious defect that you could have seen yourself before buying. If there was a huge crack running across the living room ceiling at the open house and you’ve only now decided to bring it up, no dice.

Is the seller of a house liable for defects?

Real estate contracts and common law obligate a seller to disclose known defects in a home. However, the principle of “caveat emptor” – let the buyer beware – also applies and may protect a seller from liability for problems they weren’t aware of.

What happens when a landlord sells a building?

In some cases, the new landlord has plans to convert the building into another type of property altogether, such as condos or a retail business. Sometimes they even plan to demolish the old building to make room for new construction.

What happens when the owner of a property sells?

While the new owner will likely be your new landlord (unless a property manager is in charge), that shouldn’t affect the terms of your original agreement. Until (and if) you sign a new lease, everything must remain the same until the old one expires.

Can a buyer be present during a home inspection?

As an added safeguard, buyers should be physically present during the inspection. If an inspector balks at this idea, that’s a red flag.

What happens when you get a home inspection report?

It can be a stressful event for both buyers and sellers as they wait for the report, hoping no major issues will surface that could sideline the deal.

When to go after the seller for a leaking roof?

When you experience your first rain after closing on your house and the roof leaks, it’s natural to want to go after the seller. After all, if it’s not a new home, it was her roof before it was yours.

Do you have to disclose anything to a home inspector?

After all, sellers are required to disclose any known issues about the home. Well, here’s the rub: Proving the seller knew about something after the fact is nearly impossible, and the legal cost involved in trying to prove it is often too steep to make an attempt. Which brings us back to the home inspector.

What happens if you sell your house before 2 years?

Capital Gains If You Sell Before 2 Years One of the biggest pitfalls to any investor is capital gains. If you own a house for longer than a year, and turn a profit on the sale, you’re looking at a capital gains tax rate of up to 20%, depending on your tax bracket.

How long does it take to buy a house after foreclosure?

Waiting Periods After Foreclosure Summary Table Loan Type Waiting Periods With Extenuating Circumstances Conventional 7 years 3 years FHA 3 years 1 year VA 2 years 1 year USDA 3 years 1 year

What’s the average time it takes to sell a house?

So much so that the average total commission percentage has been falling for years and is now down to around 5% (instead of the full 6%). Selling your house in a year or less can be a stressful experience. You stand to lose a ton of money when you sell a home right after you bought it because of commissions and the closing costs.

Why was my house sold by a flipper?

It was sold after being inspected by the flipper but when the house was cleared and flipper took possession the city showed up and condemned the house (I’m not sure why). Not a thing the flipper could do as they had accepted the deal and the house and nothing known had been hidden.

What should I do if I Sell my House to someone else?

If in doubt, your agent can check with the buyer. While not necessary or expected, if you’ve got an emotional attachment to your home, you may want to leave its new owners with a letter and a housewarming gift. Let them know what a special place it is and wish them well. Introduce them, in writing at least, to their new neighbors.

Can a home worth half a million go into foreclosure?

You’re not alone in facing foreclosure. Even some homeowners of higher dollar homes have wound up in foreclosure: “I had one foreclosure where the house was worth over half a million, and it went into foreclosure over a loan of $10,000.

How can I Sell my Home before it is in foreclosure?

To start plotting your pre-foreclosure home sale, we recommend the following steps: 1. Find out roughly how much your home is worth. Use an online tool like our Home Value Estimator to get a home value estimate in less than 2 minutes.

What happens when a rental property is put up for sale?

Even if your rental home is put up for sale, it is still your home. This means that you still have your right to quiet enjoyment and the property owner cannot invite prospective buyers to an open house whenever he or she wants to. A landlord is still obliged to give you 24 hours’ notice. It’s time to ask for bonuses.

How long does it take to sell your house after buying it?

But selling your home soon after buying can mean losing money, missing opportunities, facing capital gains taxes or paying mortgage prepayment penalties. The typical seller lives in their home for 13 years before putting it up for sale, according to the Zillow Group Consumer Housing Trends Report 2018.

Is there a comeback when you sell a house?

6 months – they’ve no comeback, unless someone in the legal knowhow can say otherwise. Its part of the joy of buying houses; sometimes you have to sort out the problems the previous owners left you with. Id keep it polite but firm, stand your ground.

When did my son buy his current house?

When son bought his current house he had a clause written into the buying agreement to cover any boiler issues. He moved in during the summer months, boiler failed as soon as winter arrived. Seller coughed up for a new one

When did couple buy house in Riverside CA?

A couple remove the previous homeowner from a Riverside, Calif., home they purchased back in January 2020, but were unable to move into for 15 months. April 2021.

Why is the seller still living in the House?

The seller is still living in the home because of the state’s freeze on evictions during the coronavirus pandemic, the couple says. They bought the home 14 months ago and have been paying the mortgage.

Why is a California couple not moving into their new home?

They bought the home 14 months ago and have been paying the mortgage. A California couple says they can’t move into their new home because the previous owner refuses to leave and can’t be kicked out because of the state’s ongoing freeze on evictions during the COVID-19 pandemic.

Is it good to know when your house has been sold?

Sold house prices can also prove invaluable if you’re looking at putting your own property on the market – so you don’t run the risk of undervaluing or overvaluing your home. Where do sold house prices come from?

How long do you have to live in a gift home before selling it?

Consider living in the home for at least two of five years before selling it if you receive real estate as a gift. This period of residency can help make you eligible for a capital gains exclusion of up to $250,000 on the sale of a primary residence if you’re single, or $500,000 if you’re married and file a joint return.

What’s the depreciation on a house sold before death?

Let’s say that your parent transfers their $300,000 house to you before their death. They paid $80,000 for it 30 years ago and made $40,000 worth of improvements to it over the years. They never claimed any depreciation on the property. Your cost basis is therefore $120,000—$80,000 plus $40,000.

What was the original value of my house when my husband died?

Your half of the house is still at its original tax basis of $150,000 (half of the original $300,000 purchase price), but your husband’s half of the house stepped up to $275,000 when he died (half of the house’s value on the day he died of $550,000). Add $150,000 to $275,000, and you get $425,000 as the tax basis of your home.

How long should you keep receipts after selling a house?

receipts for any moving expenses. (This can reduce your home sale profits if you meet certain rules, such as selling the home because of a new job that’s at least 50 miles farther from your old one.) Financial experts recommend keeping these records for seven years after your home sale, based on the IRS’s time frame for audits.

What happens when I Sell my House to a new owner?

The new owners will have to uphold the conditions of the lease you signed with the original owner, so even if there are 3 years left on the lease, they will need to honor that agreement. As long as the current owner and the realtor give you proper notice to enter the property, they are legally allowed to show the property.

Why do I have to sell my house after one year?

Sometimes, new homeowners are forced to quickly consider selling a house after one year or less because of a new job or a change in their financial status. At other times, they might just have buyer’s remorse, or find a different home they simply like more.

Can you still have buyer’s remorse after buying a house?

Sometimes all the safeguards the real estate industry has put in place to help prevent buyer’s remorse after purchasing a house still don’t work. The process takes time for a reason, and you aren’t getting a home inspection for the fun of it. It can happen. You can buy a plot of disappointment.

When to know if your home has foundation problems?

If your home is exhibiting symptoms of foundation problems like cracks in walls, sticking and swinging doors, or uneven floors it may need foundation repair. Experienced professionals can give you an accurate analysis of your home and design a foundation repair solution.