Buying any house is a big decision that people do not make lightly. Unfortunately, even after all the inspections have been done and questions have been answered, there is still some information about a home that homeowners don't learn until months or years after it has been purchased.
In many cases, homeowners will be left to deal with any problems that arise. In other cases, however, another party could be held accountable. For instance, if there are problems that arise from construction defects, you may have grounds to file a legal claim to have the problems fixed and damages paid.
This is the route some homeowners in another state are taking after they learned that the units they purchased in a luxury tower could plummet in value thanks to alleged structural defects.
Reports indicate that the building is sinking and could continue to sink about three feet into the ground. This is due to the fact that it was built on a watery foundation and utilized 80-foot piles to anchor the building instead of 200-foot piles, which would have anchored the building to bedrock.
On top of the fact that the building is sinking about one inch per year, homeowners also claim that the developer knew about this troubling defect and hid it from homeowners and prospective buyers for roughly five years.
A number of lawsuits have been filed by people who own units in the high-rise. Some name the developer and are seeking damages for loss of resale value while others are suing the city. It will be interesting to see how this situation plays out and what steps are ultimately taken to address the structural defects.
If you are involved in a similar situation right here in North Carolina, you should understand that you have legal options if your home contains construction defects. However, if you wait too long to take action, you could find that you have missed out on valuable remedies. Further, the damage caused by a defect can only get worse over time. Because of this, it is wise to speak with an attorney as soon as a defect is discovered.