Legal Question in Real Estate Law in Iowa
We are selling a 50 year old house - when installing new flooring recently we discovered that the floor joists were severely sagging. The sub floor is particle board so we leveled it with shingles and various widths of plywood sub flooring to level it out to the best of our ability. The basement foundation had cracked when we bought the house 30 years ago so we installed a vertical steel beam to reinforce the foundation - we have not had any additional settling or any problems with that. The basement is a very large open room and we think that when it was built they probably should have put more support beams in the basement but we do not know for sure. The buyers hired a home inspector and gave the ok to purchase. In our selling agreement we disclosed that the floor joists were sagging and that we put in new sub flooring to remedy the problem. IF the buyers later discover how badly the joists are sagging, could they come back and sue us - and IF so how long would they have the right to do so?
2 Answers from Attorneys
Anyone can sue anyone else for anything. The question is whether they would win if they did sue you. I am not sure that simply disclosing that you put in new sub-flooring adequately describes what occurred would be adequate based on what you describe, especially considering the floor seems to have been shimmed up with shingles. Perhaps if the shingles are readily visible it might not be a problem. It is always best to be completely forthright in making disclosures. Depending on the theory they use, they may be able to sue you for up to ten years (statute of limitations for written agreements). If you are sued, you should contact the attorney who represented you in the transaction immediately.
Anyone can sue anyone else for anything. The question is whether they would win if they did sue you. I am not sure that simply disclosing that you put in new sub-flooring adequately describes what occurred would be adequate based on what you describe, especially considering the floor seems to have been shimmed up with shingles. Perhaps if the shingles are readily visible it might not be a problem. It is always best to be completely forthright in making disclosures. Depending on the theory they use, they may be able to sue you for up to ten years (statute of limitations for written agreements). If you are sued, you should contact the attorney who represented you in the transaction immediately.
If you have not yet completed the sale, you most definitely should discuss this with the attorney representing you. If you are in one of those areas of Iowa where seller and purchasers are "discouraged" from hiring attorneys, ignore this bad advice and hire one immediately.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
