If i have foundation issues that weren't disclosed, what can i do?
Question Details: We bought our house in August and were told there were no foundation issues. Inspection proved to be the same. We are now seeing cracks, hearing noises and suspect movement. My husband called a company that was referred to us, and oddly they had a record of coming out to our house in 2013. The evaluation was apparently requested by sellers agent and told that nine piers needed to be put in. Work was declined. That company will be coming out to check our house next week. Do I have a case? We are the third owners. Sellers told us no issues and disclosed nothing. However, it appears that the original owners, who built the house, were the ones who declined to have the work done. So IDK if they disclosed this information to the second owners. Please help
You can sue the seller for fraud. Fraud is the intentional misrepresentation or nondisclosure of a material fact made with knowledge of its falsity and with the intent to induce your reliance upon which you justifiably relied to your detriment.
In other words, you would not have bought the house had you known of the foundation problems.
Your damages (monetary compensation you are seeking in your lawsuit for fraud) would be either the benefit of the bargain or your out of pocket loss.
Benefit of the bargain means a defrauded purchaser may recover the difference between the real and represented value of the property regardless of the fact that actual loss suffered might have been less.
Out of pocket determination of damages for fraudulent misrepresentation permits recovery of the difference between the price paid and actual value of the property acquired.