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Home / Courts / Homebuyers who profited and sued anyway get second chance (access required)

Homebuyers who profited and sued anyway get second chance (access required)

Robert and Susan Coake sold their Anderson property in January 2006, about a year before the housing market began its long tumble. They sold the property for $440,000 after purchasing it in 2004 from Kathleen Burt for $296,900. They enjoyed a nice profit, but in order to get it, they spent $38,390 on repairs and improvements - $10,090 of which they attributed to Burt's alleged failure to disclose certain defects in the property. The Coakes sued Burt alleging that she violated the Disclosure Act, S.C. Code Ann. § 27-50-80, by filling out a disclosure form but failing to alert them to the defects. Greenville attorney Kirsten E. Small (pictured) of Nexsen Pruet, who represented the Coakes, said the suit wasn't as much about the $10,090 as "the principle of not knowing what they were getting when they bought the house because of the disclosures."

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