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A Man of Wealth and Taste
 
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Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
I didn't know the house was defective. The Builder had repaired all the cracks. I know he had crews fixing my house on 2 different occasions (you can see patch work and repaint then more patch work that wasn't repainted). If you walk into a house with four white walls it is difficult to see anything unless you are specifically looking for it. Then when you start looking with a discriminate eye...ohh boy.

I'm not looking for a Class Action suit, I am sueing on my own as is my neighbor across the street. We are both using the same attorney. There was allready a class action lawsuit against the Builder, 12 homeowners won, I believed 10 of them were bought out, and 2 elected to have their homes repaired when the offer to repurchase was less than they had invested in the home. It also has taken the Builder close to 2 years to finially repurchase all the homes.

One of my biggest concerns here is that any offer to repurchase has to take into account home appreciation. What was going for 270K in March is now going for 335K.

Most Builders in Las Vegas put Construction Defect on the back end as a warranty issue. They know they are building defective homes, they also know only a small percentage of them will have to be repaired properly. The problem will be passed on to the next owner of the property.

The homeowner agreed to close Escrow before the list of things to be repaired was completed, ususally they are minor items. That is common practice, loans interest rates are only locked for so long. Builders will promise you the moon to get you to close. Once you have closed the Builders response time for correcting the flaws in the home goes way down.

My advice is to NEVER CLOSE Escrow until those repairs are done to your satisifaction. It comes down to how bad does the Builder want to sell that house to you. In this market he doesn't need you, there are 5 other fools lining up right behind you.
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"Some Observer"
Old 12-06-2003, 11:18 AM
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