Nondisclosure of aluminum wiring, which causes fires

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Nondisclosure of aluminum wiring, which causes fires

I recently bought a condo in Colorado, I was in Oregon and only got to Denver the day before closing. Now I learn that there is aluminum wiring here, which is dangerous. It can start a fire anytime. This was not ever disclosed to me. Also, my realtor told me not to get an inspection since

Asked on April 19, 2018 under Real Estate Law, Colorado

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You can sue the realtor, listing agent, and seller for fraud.  Fraud is the intentional misrepresentation or nondisclosure of a material fact made with knowledge of its falsity and with the intent to induce your reliance upon which you justifiably relied to your detriment.
In other words, you would not have bought the condo had you known of the aluminum wiring.
Your damages (monetary compensation you are seeking in your lawsuit) for fraud would be either the benefit of the bargain or your out of pocket loss.
Benefit of the bargain means that a defrauded purchaser may recover the difference between the real and represented value of the property purchased regardless of the fact that the actual loss suffered might have been less.
Out of pocket determination of damages for fraudulent misrepresentation permits recovery of the difference between the price paid and actual value of the property acquired.
You would file one lawsuit for fraud naming the realtor, listing agent, and seller as defendants.
In addition, you can file a complaint with the state licensing board against the realtor and listing agent.

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Realtors do not have a duty to disclose conditions in a unit or home; it is the *seller* who has an obligation to disclose harmful or dangerous conditions of which he is, or reasonably should be (that is, under the circumstances, any seller in his position would logically know of), aware. If the seller can be shown to have either known or that he should have known of the aluminum wiring but despite knowing of it, did not disclose it, he may well have committed fraud; and fraud provides a basis to recover compensation (i.e. to sue for money).


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