No home is perfect, regardless of its price tag.
OpenAI CEO Sam Altman bought a $27 million mansion in San Francisco, thinking it was his dream home. Unfortunately, the property turned out to have serious issues, “… plagued by instances of poor workmanship and defects.” Despite the high price and luxurious features, the home has faced significant problems and is now the subject of a lawsuit.
The suit points to widespread issues of mold, leakage from the infinity pool, and defective piping that dumps sewage on the property.
This legal battle shows sellers, agents, and brokers that even if you think you are purchasing the “perfect home” there’s still a chance you can face defects and a lawsuit. Just this month, Sellers Shield has received 5 claims for issues such as:
Roof leak: The buyer experienced roof issues shortly after closing. A roofer inspecting the damage mentioned previous leaks that had not been disclosed.
Condition of the home – cleanliness: The seller cleaned the home before the final walkthrough, and the buyers did not mention any issues at that time. However, after the seller did a short leaseback period post-closing, the buyers expressed dissatisfaction with the home’s condition upon moving in.
Flooding in basement: The buyers reported flooding in the basement, with water entering through the walls and flooring, leading to a verbal threat and a demand of $13,000.
Septic tank repair: The buyer sent a demand letter stating that the septic tank needed to be replaced and other repairs were necessary. Based on the repairs already made and estimates received, the buyer is seeking over $36,000. The agent has been involved throughout the process, being copied on all communications with the seller.
Pest Infestation: Buyers found a mice infestation shortly after moving in and had an exterminator out to assess. The buyers are asking the sellers to pay about $4,000 to remediate the issue. The seller says they did a pre inspection before closing and there was no mention of a mice issue.
Don’t let lawsuits happen to you or your sellers. Protect yourself and your clients with Home Sale Legal Protection™. At the first sign of trouble, even just a verbal threat, Sellers Shield immediately hires a local attorney, supports the seller from start to finish, and pays up to $75,000 in legal fees.
Your sellers can purchase Home Sale Legal Protection™ anytime before closing. They can purchase it on our website, in their dashboard (if they completed a disclosure with Sellers Shield), or by contacting our support team directly.
Learn more about Home Sale Legal Protection™ here.
**Home Sale Legal Protection™ can be purchased to cover sellers anywhere between 1 to 4 years after the close of the home and for $75,000 or $75,000 of protection.
