Legal Question in Real Estate Law in Texas

Four years ago we purchased a foreclosure home owned by a bank. The house supposedly passed inspection, however the day we moved in we had to hire a plumber as a length of pipe was missing in the cooling system, which caused a flood inside the wall, and electrical that was not hooked up. Since then we have discovered the windows and doors are factory seconds, have gas leaks and dirty between glass layers, the brick mortar is decaying, We have tried to sell the house for a year and a half with only two sad offers. Now we are getting a divorce. I am moving out of state and my husband can't afford the house. Because the house came with no warranty the burden of fixing everything is on us. We have put thousands of dollars into this house, and still we can't sell it. Do I have a reasonable argument to default? I'm really concerned about my credit rating. There is also a problem with the north end of the house porous taking in rain. The inside wall grows mold. We fixed it once, and I see that there is still some leaking when it rains.


Asked on 9/30/11, 7:13 pm

1 Answer from Attorneys

My suspicion is that when you bought the house, you bought it "as is" or "with all faults." This means that you bore the risk that the house was junk, unfortunately. As for your credit rating, you're probably sunk on that as well, considering you're going to default. My suggestion is that you attempt to "short sell" the house or pursue a deed in lieu of foreclosure. Feel free to call me if you're interested in pursuing either.

Dave

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Answered on 10/01/11, 6:47 am


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