Eddie,I understand  that the house can't be mortgaged because it has a material defect now.

She noted no defect with the unit on the move-in inspection check list (I inherited her as a tenant).

Truth is i WORK HARD TO BE THE FIRST GUY.we all carry defects of character.

Exemption for properties less than 15 years old lets developers build condo-style rental units that can be rented without being subject to the new law and can be converted to condos after construction defect time limits expire.

What kind of property defects are common, shifting soil?

Now if you have a plumbing defect (say  weak flushing toilet) then I would fix the problem not the effects of it. 

We engaged the services of an inept building inspector (family friend) prior to buying the place and he missed a substantial amount of defects in the property that would have allowed us to negotiate down the price of the property.

I an hazy on this details, but I remember reading about the construction defects laws in Colorado.

It would be an opening for me to finally get back into real estate but I am concerned about:*Prices being inflated (I know everyone thinks a crash is coming but the prices seem crazy)*Possible changes to the defect laws (right now, any single owner can sue the builder) so few are building new unitsWould love to hear some input on this.

@Michael Mastantuono , in a fiduciary state, an agent not working directly contracted with you owes you very little outside of not directly lying to you and informing you of material defects.