this is stupid. i'm not satisfied until someone's ass is locked up!
Alison Victoria’s attorney argues that the buyers are trying to bully her into settling “baseless” claims.
chicago.suntimes.com
Sounds like it should be the buyers. Anybody that would pay $1.33 Million for a house without having it inspected and apparently with no warranty is an idiot, not to mention any bankers involve not caring what they loan money on. Stupid is as stupid does.
Banks only see the appraisals unless the buyer voluntarily lets them see the inspection which is unusual. The inspection report belongs to the party that pays for it and they don't have to share with anybody. So, unless the appraisal dinked the value in the comps based on say a cracked column the lender would never know the column was cracked.
Only bought two houses and had this one a long time. Thought the bank insisted on an inspection and basically billed me for it as part of the costs of the loan. Maybe they did years ago or maybe it is just a vague memory. Does not make sense that someone would loan money or make a purchase that large without knowing if the asset was worth the investment to the buyer or lender. Could it be that years ago I was doing VA/FHA and they had different requirements back then. I do not think they financed that high years ago, but that could be incorrect also. Glad I have no intention of going through the process again.
