Loss assessment responsibility

UPDATED: Sep 30, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Sep 30, 2022Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Loss assessment responsibility

Our townhouse complex had hail damage from a storm on 7/28. A loss assessment notification to homeowners was issued on 11/14. We closed on our townhouse on 8/19. Since the damage occurred before the closing, whose responsibility is it to pay the loss assessment – us or the seller?

Asked on November 19, 2016 under Real Estate Law, Colorado


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

The seller must pay (unless the HOA pays because it is external damage--you need to check who, at this complex, pays for outside damage). Pre-closing, it is the seller's home, not yours; and he is obligated to turn it over to you in the shape it was in when you agreed to buy it, so any damage occuring after you contracted but before closing, he has to fix (or otherwise work out to your satisfaction: e.g. if he does not want to actually to the repairs, he could offer to give you the funds or a credit against the sale price and you might choose to accept that and do the repairs yourself).

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption