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Updated over 7 years ago on . Most recent reply

User Stats

7
Posts
6
Votes
Kim Koetsier
  • Investor
  • Oviedo, FL
6
Votes |
7
Posts

Warranty on rehab not being fulfilled

Kim Koetsier
  • Investor
  • Oviedo, FL
Posted

We purchased a Chicago refurbished duplex, from a 'reputable' developer - #Profitfromrentalshttp://www.profitfromrentals.com profitfromrentals

The deal specifically includes a warranty for all workmanship for 12 months and a warranty on all maintenance repairs for 6 months. 

Based on our situation described below, I want to know - How valid is a warranty provided by the developer in the sales contract and What is the recourse to enforce it? And what about further losses resulting therefrom?

Unfortunately 6 weeks post handover there is a serious water pipe issue causing damage and frustration to the tenants. We immediately notified the developer only to learn that he had some serious health issues and is not contactable.  

With the help of the marketing agent #Maverick https://www.maverickinvestorgroup.com  who have dealt with the developer for 5+ years, we were able to contact the appointed power of attorney for the developer. 

This is his response - 

I suggest you make the repairs or lose your tenant at this property. 

We recommend your property owners to immediately enroll into the American Home Shield......

Whilst we understand the predicament - this is not a "one-man" business and surely the contractual obligations remain in force?

Any advice will be greatly appreciated!

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