Real Property
Purchase Agreement
Failure to Disclose Defects
Confidential
Settlement – $65,000Facts
Plaintiffs purchased a single family dwelling located on Lake Washington in 1988. The purchase price was $350,000. Remodel design and construction had been completed in 1988 by Defendant owner, developer and real estate agent. In 1993, when Plaintiffs entered into a subsequent sales agreement on the same property, they discovered that a defective foundation preexisted the remodel.
Settlement Discussions
Offers and/or demands, exchanged prior to this result, were not disclosed.
Damages
Plaintiffs claimed $175,000 in lost sale of the house and $42,000 for repairs -- for a total of $217,000.
Other Information
This case was filed November 15, 1993; one year, seven months and fifteen days prior to this result.
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