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Purchased Condo with Hidden Structural Problems – what to do?

Jul 062011

I have been the owner of a condo (4-unit building, newly built from the ground up) for 15 months.

Two of the four owners are still covered by the 1-year warranty issued by the developer. This warranty is to protect against defects and punch list items, etc. A water main has broken and leaked water in my unit (I’m in the Garden Unit). Initially, the developer and his contractor were taking care of the problem. Now they are saying that the condo association’s insurance has to pay for the repair.

We called the city and the city said it looks like a broken water main was installed. The developer’s contractor is saying that this problem is new and not covered by any warranty. Mold had been growing on my wall since July in the exact area where they dug in my floor to discover the leak , there is nothing new about this problem. The water main is not MY water main, it is the BUILDINGS water main. What are our/my rights? What are the laws? Thanks!

How many US auto loans and home mortgages financed by banks are out there?

Mortgage Loan 2 Responses »

Jan 172011

I’m trying to discover the # of US home mortgages and auto loans financed by banks in the US and the average value of each type of loan. It’s for a school project.

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