Tannenbaum Scro, P.L.
Call For a consultation
941-444-9092 | 866-615-4543
Spanish Language Services Available

Construction defects affect property resale value

There are many types of construction defects that are slow to show themselves. They get worse over time, making it very difficult for a homeowner to spot the defect until it is too late.

In situations where a defect is slow to develop, homeowners can and should be worried about the resale value of their home, even if they have no plans to sell for years. In these situations, it can be wise to take legal action sooner, rather than later, in order to seek damages and have a defect repaired, if possible. Doing so can have a dramatic impact on resale value later on.

This is the very situation homeowners are facing in another state, as they were recently informed that their luxury tower was sinking.

According to reports, people purchased units in the high-rise without knowing that it would settle several inches in the years following the completion of construction in 2009. However, the settlement had been documented just one year later, and it is showing no signs of slowing down. In fact, some experts believe the building could ultimately sink about three feet into the muddy landfill on which it was built.

Homeowners are understandably quite upset and have started filing lawsuits against the developer claiming it failed to construct the building properly and then hid the problem from purchasers. Reports indicate that the sinking could have been prevented by using 200-foot piles that reached the bedrock below the building. Instead, the developer evidently used piles that were just 80 feet into the ground.

While the sinking appears to be limited to an inch per year, the fact is that over time, it can and will affect the structural integrity of the building. Because of this, reselling units in the building for a price similar to the price initially paid will be extremely difficult, especially because news of the sinking has now been widely reported.

In situations similar to this one, homeowners would be wise to examine their legal options. Should a construction defect be compromising a home, it can and should be remedied sooner rather than later. Discussing the options for filing a lawsuit and seeking damages with an attorney can help homeowners protect themselves and their investment.

No Comments

Leave a comment
Comment Information

Tannenbaum Scro, P.L.
1990 Main Street
Suite 725
Sarasota, FL 34236

Toll Free: 866-615-4543
Phone: 941-444-9092
Fax: 941-316-0515
Sarasota Law Office Map

Tannenbaum Scro, P.L.
214 S. Lucerne Circle
Orlando, FL 32801

Phone: 407-738-4379
Orlando Law Office Map

Tannenbaum Scro, P.L.
970 Lake Carillon Drive
Suite 300
St. Petersburg, FL 33716

Phone: 727-287-1018
St. Pete's Law Office Map