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tiny4me76 · Jan 16, 2010, 10:51 AM

Bought a home that was a purchased from the sellers that was a foreclosure home. The home that we bought from them has asbestos siding. I would like to know if there is anything that we can do to have them either buy the home back or compensate us for removing the potential hazardous siding on the home? If so, how can we get this done? The sellers,broker or inspector didn't inform us of this asbestos siding. Since it was a foreclosure home, shouldn't the sellers known of this. That's why they didn't put in new windows in the home, now having trouble trying to get someone to install new windows. Just want any advice from anybody would be greatly appreciated.

AK lawyer · Jan 16, 2010, 12:49 PM

Originally Posted by tiny4me76

... Since it was a foreclosure home, shouldn't the sellers known of this. That's why they didn't put in new windows in the home, now having trouble trying to get someone to install new windows. ...

I'm not following your reasoning here. If the persons who sold the home to you had obtained it at a foreclosure sale, it seems that it would be more unlikely that they would have known about the asbestos siding than if, for example, they had been the original owners.

Do you have any evidence that they actually knew it was asbestos, and that they knew it was hazardous?

Is the problem that this siding is considered dangerous by the mere fact that it is on your house, or is the problem that you can't get anyone to replace the windows because of it?

Fr_Chuck · Jan 16, 2010, 01:12 PM

At least in our state, there is no requirement of notification in a foreclosure. Also you had a full right of a home inspection, so did you not see it, when you just went to the home.

Also the siding is not "dangerous" it is the most common used in the 20's and 30's, I have owned dozens of houses with it.

You can put other types of siding over it, paint it and do many things.

But no you have no claim at all against anyone, since
1. they are not required to tell you esp in a foreclosure
2. you had full right to inspect home
3. that type of siding is very common

AK lawyer · Jan 16, 2010, 01:22 PM

So the broker knew about it and didn't tell you. That might (depending on the disclosure requirements in your jurisdiction) be a problem for the broker & perhaps the seller except for the necessity of proving damages. Fr_Chuck says it's not a problem (and so no damages). What makes you think it is?

Fr_Chuck · Jan 16, 2010, 01:27 PM

It is the seller who is responsible to making any disclousres, but they are not required in a foreclosure, since there is not real "seller" ( the bank owns it after foreclosing)

And it is easy, that type of siding is obvoius, I can drive by and point them out from the street, in older neighborhoods about 1/3 of homes have them

AK lawyer · Jan 16, 2010, 01:38 PM

Originally Posted by Fr_Chuck

It is the seller who is responsible to making any disclousres, but they are not required in a foreclosure, since there is not real "seller" ( the bank owns it after foreclosing) ...

Ok, but someone sold the home to tiny.

Originally Posted by tiny4me76

Bought a home that was a purchased from the sellers that was a foreclosure home. ...

It's not clear who the seller was, the bank, the deed of trust trustee, or the buyer at a foreclosure sale. Are you saying the bank (if that's the seller) is not liable because it's not a "real seller"?

It may be obvious to you even from the street, but that doesn't mean it was obvious to the OP. But as I say, it is not clear that OP has been damaged.

Fr_Chuck · Jan 16, 2010, 01:47 PM

Even if the bank took it back, while they are the seller, the issue is that at least in the states where I hold a real estate license, the bank in the foreclsoure has no responsibility or liablity to give a disclosure, there is paper work in the sale that states so.

That is why a home inspection is very needed. But to be honest this type of siding would not even trigger a issue on a home inspection

tiny4me76 · Jan 17, 2010, 08:51 AM

I did get a full home inspection as stated you need to get one prior to getting the home financed. The inspector pointed small other things about the house but not this. We didn't purchase the house through a bank. It was purchased through the sellers who bought the home from foreclosure and flipped the house. But didn't tell us of the asbestos siding on the house. I was wondering what the broker was kind of worried when we went to close on the house. She mentioned something when we came across about suing about something. The broker made a comment "I hope it doesn't come to that". I really didn't know what she mean't about that. Now that we know about the asbestos, I'm thinking that was probably what she mean't. Thanks for your inputs.

Fr_Chuck · Jan 17, 2010, 10:18 AM

I will still be firm, asbestos siding is not something you can sue for, it was the most common siding used for 3 decades and on millions of homes across American, I still own at least one myself. And have no problem in selling it and will not even see this as a issue to mention either.

As noted it is just a non issue, that even home inspectors have no reason to metion it.

Plus there is no real need to hire anyone, taking it off is a easy do it yourself job if you have basic skills.

And again there is no reason to even take it off, unless you were planning to put some other siding up. And even then you can normally merely side over it.