Legal Question in Real Estate Law in Kentucky
I sold my home in the begining of 2011. I owned the home for less than three years. When I purchased the home, the sellers paid to have a few cracks in the basement foundation fixed. When I lived at the home there were never any water damages or leaks. When I sold the home I was under assumption that the fixed cracks when I bought the home were waterproofed, and the fix was working. On the discolosure I wrote waterproofed under the foundation/basement section. When I sold the home, through many inspections, estimates, and appraisals it was determined that there was some leaks in the basement that needed to be fixed. I disclosed then to my realtor who disclosed to the buyers agent that the basement was not waterproofed, but there was a remaning warranty on the cracks that were fixed with a rubber material that was waterproof...not the whole basement. The buyers still agreed to purchase the home, with a monetary allowance to fix the leaks in the basement and other repairs with the house. To me this is clearly stated that I was initially wrong about the disclosure but fixed the confusion later. The buyer was fully aware of the leaks after the inspections...and I of course paid to have them fixed per the buyers contractor estimates. I have since received a letter that I am being sued. What should I do? I dont even live in the state anymore! Who is in the right here? What are my options? Do I need an attorney? Please help!
2 Answer from Attorneys
You're being sued, so yes, you need to hire an attorney. Take copies of all of the documents you have during the consultation. If your documents show you made the disclosures and they agreed to purchase the property knowing of the problems, you shouldn't have too much trouble getting the matter quickly resolved.
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