Local Realtors hid bad Chinese Drywall

[Big House]

Originally Posted by bbronston

It does say that they can either go after the deposit as liquidated damages or go for the specific performance. Geez, this situation stinks. I've always disliked that form and this is one of the reasons..it just doesn't adequately deal with the many issues that can arise the way the alternative FAR-9 did and, in fact, the form was replaced in October with a much better FARBAR form. I still think your best bet is to find a neighbor who will testify that the seller was aware of the problem but didn't disclose it, and to go after the agent/broker who negligently didn't adequately protect you or, even worse, fraudulantly put you in this position. I think there are circumstances where purchasing a property with CDW makes sense but never in a situation like this and it is extremely difficult to believe that the seller, the neighbors, the builder, etc., didn't know it was there and it is beyond credibility that the agent didn't at least know that a CDW addendum was a necessary part of the contract, if for no other reason than to cover their own rear end.

Good Post B. They also can jump in on the chinese drywall band wagon. There are many class action law-suits going on - unfortunately.
U built multi-family housing for a living. One of my clients wanted me to use Chinese drywall to save a ton of money. I refused because it did not have any U.L. fire ratings - it was deficient in qualifying to meet the code requirements. This was before any of this other horrendous information came out. Maybe this deficiency will be grounds for recovery.

However, if it was all removed, and it was not out-gassing the corrosive materials, maybe the damage was satisfactorily resolved to a point - for safety sake. Maybe not though - I don't claim to be an expert, even though I have inspected many houses that have it. And, it may still effect re-sale - an un-proven, but likely outcome.

[bbronston]

Just another observation that you can ask your attorney about but I don't think they can take the deposit AND sue for specific performance. That would make the claim on the deposit more of a penalty and I think I remember reading a few years ago that FL said that was a no-no. In fact, if that is true I wonder if, by claiming the deposit, they then give up their right to specific performance? Sorry to play armchair attorney but I have to admit that these things intrigue me. I should've gone to law school! Anyway, this is not the way things should go, in my opinion, and you really do have my hope that it works out for you.