What to do about missed damage during an insurance inspection which caused a lost sale of my home?

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What to do about missed damage during an insurance inspection which caused a lost sale of my home?

My house was damaged by flooding 7 months ago. I called my insurance company and they sent out adjusters tp inspect. I got a $2,000 check for minor exterior damages. The house was for sale at the time and 2 months ago we had a signed contract contingent on a home inspection. The home inspector found $10,000 worth of flood damage to the foundation of the house and the sale was lost because of this. I am now facing foreclosure since I have had the house on the market for so long. Do I have any legal recourse due to the missed damage during the earlier inspection?

Asked on February 7, 2012 under Real Estate Law, Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You could try to sue the inspector and/or the insurer (his presumptive employer) for negligence in the discharge of their duties, if they missed that much damage. You could also try suing the insurer for breach of contract, if it was aware  of the damage but refused to pay for it. You should consult with an attorney, bringing with you copies of all inspections, policies, relevant correspondence, etc. Good luck.


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