All Forum Posts by: Jonathan Chique

Quote from @Crystal Smith:

Quote from @Jonathan Chique:

Hello all, I’m new to world of real estate investing and just closed on my first multi family property in October of last year. 
I recently discovered a leak in the basement coming from my 1st floor toilet. It seems like the previous owners or manager used a piece of metal to cover up that leak since the metal was rotting of water. After a plumber repaired the leak, he told me that the plumbing System did not have ventilation. He would have to break through the wall and add a ventilation system. Which would cost over 5k. None of this was disclosed to me or mentioned in the inspection report. Is this simply a done deal, nothing I can at this point or is it worth bringing up to mine or seller’s attorney? Any advise would be appreciated, thanks. 

If you purchased the home off of the MLS you most likely were given a property disclosure. I'd review that disclosure first to see if there's any mention of the problem you've now found. If you believe it's something that should have been disclosed you can discuss it worth your attorney, but..... It may cost you more to dispute or sue the seller than to just take care of it on your own.

 Thank you for that response. I will definitely look into this. I’m sure that turning this into a legal matter would take so much more time and energy than to just fix the issue myself but definitely good information to know for future reference. Thanks again! 

Quote from @Nathan Harden:

So, if I am reading this correctly, this is what is called a "Latent defect". And if the metal sheet is the work of the seller, it absoutely 10000% should have been disclosed if the seller knew about the leak and took the time to cover it up. 

If there is also a Disclosure that was given to you and it isn't mentioned, then you will need to get an attorney involved because all of the info that I have, you may be in the Right.

Did you not get an inspection....

Thanks for your reply. 
It definitely does seem like the seller or previous property manager took the time to cover it up. I did get an inspection, but since the damage was hidden, the inspector did not find it so it wasn’t mentioned on the report. 

Hello all, I’m new to world of real estate investing and just closed on my first multi family property in October of last year. 
I recently discovered a leak in the basement coming from my 1st floor toilet. It seems like the previous owners or manager used a piece of metal to cover up that leak since the metal was rotting of water. After a plumber repaired the leak, he told me that the plumbing System did not have ventilation. He would have to break through the wall and add a ventilation system. Which would cost over 5k. None of this was disclosed to me or mentioned in the inspection report. Is this simply a done deal, nothing I can at this point or is it worth bringing up to mine or seller’s attorney? Any advise would be appreciated, thanks.