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We bought a house in Portsmouth with asbestos shingles as siding,

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we plan to mitigate that...
we bought a house in Portsmouth with asbestos shingles as siding, we plan to mitigate that problem, but found clapboards underneath with probable lead paint on them. Do we have any recourse from the seller, contractor, or home inspector? Thanks for your prompt response. Sincerely, ***** **********Portsmouth(###) ###-####
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Submitted: 3 years ago.Category: Real Estate Law
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Answered in 4 minutes by:
5/19/2015
Real Estate Lawyer: Richard, Lawyer replied 3 years ago
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 56,728
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Hi! My name is ***** ***** I look forward to helping you!
Yes, you do have recourse against the seller. The seller is obligated to disclose anything the seller knows or should have known that a reasonable buyer would consider material in making the decision whether or not to buy the property. And, this clearly qualifies as a material matter that should have been disclosed and is clearly something the sellers knew or should have known. What you want to do is raise the stakes on your sellers. In fact, the NH seller disclosure form specifically has a provision regarding the disclosure of lead paint (http://absoluterealty.org/vow/Forms/nh/Seller_Disclosure.pdf). You should send the sellers a certified, return receipt requested letter detailing the situation and lack of disclosure and demand they compensate you to remediate the problem within a short specified period of time. Inform your seller that if they do not timely comply with your demand, you will have no choice but to file a suit for your damages. BUT, be sure to specifically mention that you will be filing this claim not only as a breach of contract case, but also as fraud and deceptive trade practice causes of action, which will entitle you not only to your damages, but also an additional amount equal to multiple times your actual damages as punitive damages. That should provide plenty of incentive to comply with your demands; but, if it does not, file your suit. Even if you have to file the suit, that's likely all you will need do. In my experience, they will settle this without a hearing rather than risk punitive damages and the fraud and/or deceptive trade practice judgments being on their record.
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Real Estate Lawyer: Richard, Lawyer replied 3 years ago
I just wanted to let you know that I will be away at a lunch meeting for the next hour or so. Should you have a further follow up, I will address it immediately upon my return. Thank you in advance for your patience. I apologize for any inconvenience.
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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 56,728
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Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.

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