The final step to resolving a non-disclosure or fraud case is actually proceeding with the litigation or the arbitration. Litigation is long, complicated and not easily navigated without the assistance of a qualified attorney.
At some point in time, your will have to consider your damages – the amount you are seeking to make up for the non-disclosure. The general measure of damages for real estate non-disclosure matters in the State of California is the difference between the price you paid at the time of purchase and the actual fair market value of the property at the time you purchased it had you received full disclosure of the item that you now claim the seller or the seller’s agent failed to disclose.
Figuring out this damages number is generally accomplished through the use of an expert. In many of our cases, we retain an expert appraiser who can does a retroactive appraisal to determine the fair market value of the property at the time it was purchased if the knowing buyer was informed about the issue that was not disclosed. For example, in one of our past cases, we alleged that the seller had committed fraud by failing to disclose that the vacant land that seller sold to our clients was able to be built upon. In that case, in order to determine the damages, we had to retain an expert appraiser to opine about the fair market value of the property at the time it was sold to our clients had our clients been told that the vacant land could not be built upon.
There are, of course, other ways to evaluate damages beyond the use of an expert appraiser. The real estate attorneys at Schorr Law have experience with non-disclosure and real estate fraud matters throughout Southern California. For help with your non-disclosure matter and to obtain a free 30 minute consultation, contact us, www.schorr-law.com, firstname.lastname@example.org, 310-954-1877, email@example.com