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December 2012 Archives

Builder Beware: Court Offers Protection to Homebuyers

For the better part of the past 50 years, the American dream has been to own a home.  And, while this view has slightly changed with the Country's current financial landscape, nearly three million single-family used homes are sold in the United States every year.  This dream can be costly to achieve; the purchase of a home, whether new or used, is likely to be the most significant acquisition a consumer will ever make.  While there is a reasonable and fair amount of risk in any home purchase, all too often buyers are side-swiped by serious defects, not discernable to the buyer at the time of purchase.  Traditionally, the absence of any sort of agreement or contract between the homebuilder and subsequent buyers prevented recovery for latent defects that were the fault of the homebuilder; only the original buyer could recover from the builder. 

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