Banks, Lenders, Fannie Mae, and others, foreclosed on properties containing Tainted Corrosive Chinese Drywall (TCDW), continue to market and sell these toxic properties, questionably avoiding typical legal "property disclosure guidelines", by marketing and selling the property "AS IS" or "Caveat Emptor" risk major legal litigation and severe financial penalties when taken to task or litigated through the court systems.
PRLog - Aug 30, 2013 - SARASOTA, Fla. -- Consumers or Investors buying or purchasing Real Estate or properties marketed or listed for sale "AS IS" with "Right to Inspect", need to understand another potential reason why the property is being sold "AS IS".
Caveat Emptor is a Latin term, first known to be used in 1523, that means "let the buyer beware" and marketing, promoting, and selling "AS IS" property is just another term or way to say Caveat Emptor.
Banks, Lenders, Fannie Mae, Investors, and others have found a legal "LOOP HOLE" that allows dumping or marketing Tainted Corrosive Chinese Drywall (TCDW) properties, the same way they have SOLD foreclosed or repossessed properties with known mold, mildew, structural issues, termite infestations, water intrusion, roof leaks, broken windows, missing appliances, damaged interiors, non-functional components, and numerous other defects, by simply listing the property "AS IS"
Realtors, Brokers, Investors and others involved with the "Real Estate Transaction" think liability or future culpability can be avoided, all because the use of the "AS IS" statement, are rapidly finding out, Real Estate Litigation Attorneys or Litigation Lawyers and others, consider this an ethics violation or failure to disclose a potentially known defect or deficiency.
As these court cases move through the legal system, judgements and awards confirm Real Estate Professional ethics and professional charters, require "full disclosure" of potentially or confirmed known issues that may affect value, marketability, health risk, or re-sale.
Obviously ... Real Estate Professionals in at least 42 states, that DO NOT know or claim NO KNOWLEDGE about Tainted Corrosive Chinese Drywall either have lived under a rock or never read the news, use the Internet, or have not been active over the last five (5) plus years.
Every profession can have "bad apples" and most, if not all the Real Estate Professionals I have contact with, maintain very high ethical standards, but due to the economy, a few "bad apples" are giving some Real Estate Firms or Brokers major problems with their Insurers or Insurance carriers.
Real Estate buyers, Investors, and Consumers need to assume the worst and hope for the best when buying, purchasing, or contracting properties marketed or sold "AS IS" with a very short, or unreasonable "right to inspect" time-frames.
Do not be another victim of Tainted Corrosive Chinese Drywall or numerous other hidden deficiencies and defects, by demanding and contracting adequate time to accomplish a Tainted Corrosive Drywall Analysis (TCDA) or Comprehensive Home Analysis (CHA) by a trained and knowledgeable professional, that follows our NDE (Non-Destructive Examination or Evaluation) Inspection or Analysis Protocol.
For more information concerning Foreman and Associates - Tainted Corrosive Chinese Drywall - NDE (Non Destructive Examination or Evaluation) Analysis Protocol or our Comprehensive Home Analysis (CHA) visit :
http://www.ConstructionGuru.com
Educating and Empowering Consumers
Michael S. Foreman
President, Foreman and Associates, Inc.
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Investors, Banks, Real Estate Brokers - Selling Chinese Drywall Property "AS IS" or "Caveat Emptor"
August 30, 2013 at 18:12 PM EDT
