What is an encumbrance? Why could having one on a property lead to real estate litigation in Colorado? What can one do about it?
Residents of a condo community in another state have been fighting with their builder, D.R. Horton, for six years to get various things around their complex fixed. Thanks to a recent court ruling, they will be getting what they want. D.R. Horton, one of the largest homebuilders in the country, has been ordered to pay roughly $14 million to repair the various construction defects at this particular location. As this builder also has a presence in the state of Colorado, this ruling may give some hope to those locally who are dealing with similar concerns.
Whether you recently bought a house in Colorado or you've been in your new home for some time now, you made the purchase believing the property was in good shape. It is a significant investment, after all, so you should know what you are getting, which is why homeowners are required to disclose certain problems if they exist. Unfortunately, since moving in, you have discovered a mold issue about which the previous owner failed to tell you. What can you do about it?
Buying a home is supposed to be an exciting thing. It does not matter if one is purchasing an existing home or building one from the ground up; the final product should be of good quality and free from defects. Unfortunately, some Colorado residents may find that their new homes are not defect-free. One problem often seen in residential buildings is electrical issues. Here are just a few of the most common.
Building a home is supposed to be an exciting thing. However, for many Colorado residents, that feeling of excitement can quickly wear off when a problem is found with the property that can cost a fortune to repair, affect the resale value and even affect one's health. Water damage, according to a report released at the end of 2018, is believed to be a big issue, particularly in new builds. When the builder or any subcontractors are believed responsible for it, construction defect litigation may help victims achieve compensation for their resulting losses.
Buying a home is supposed to be exciting. It is a big move, one that takes some Colorado residents a lot of years to make. When they finally do, they expect the home to be in good repair -- particularly new construction homes. When construction defects are found, it can be maddening. What's worse, it may require construction litigation to get the defects fixed.