Legal Question in Real Estate Law in Minnesota
wet basement
We recently sold our home in Northern Minnesota. We lived there for 13 years and off and on had a problem with the water control system installed by the previos owner. We did disclose this to the new buyer. Since we sold the house we had one day where we got 7 to 8 inches of rain. Of course they got water in the basment. They have called and asked us to pay for damages and to fix the system. Do I have anything to worry about?
1 Answer from Attorneys
Re: wet basement
If you fully disclosed the issue, you have a defense to their claims. However, this does not mean that they will not sue you or file for arbitration. I would recommend that you hire a lawyer to draft your responsive letter. I just finished a similar case where we went to arbitration. My client-seller spent about $15,000 in legal fees. We won, but it was an expensive victory.