Legal Question in Real Estate Law in Maryland
Law Suit after Property is Sold
Fact: I need to do a short sale to prevent foreclosure.
Situation: Property management is collecting monthly fees from home owners to offsite repairs necessary to correct builders construction flaws.
Question:
1. Can the property management company hold up my sale of the property if I refuse to pay the outrageous monthly fee to do the repair work?
2. Once the property is sold can I sue the builder and property management company?
3. What is the efficient and cost effective way to achieve monetary recovery for force homeowners payment to repair the builders' defective work, undo stress and financial hardships, property depreciation due to defect and loss of condo as a result of failure to make condo payments?
1 Answer from Attorneys
Re: Law Suit after Property is Sold
The management company cannot hold up your sale, but they can place a lien on the property that would have to be paid off at the short sale settlement. As for your potential suit against the builder, the most efficient way to do this would be to organize your fellow homeowners to file such a suit as a group, because there would be significant costs. For example, you'd first of all have to hire a construction expert to examine the project and be prepared to testify that the need for repairs is due to construction defects. And of course you'll need legal counsel. I doubt you'd recover for "loss of value" to your property or loss of the property because you didn't make your condo payments. At best you'd recover the cost of remedying the builder's construction defects.
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