Damages from lost sale

GJ
Gregory Johansen
Tue, Jun 14, 2016 6:11 PM

Contractor builds a building containing a significant building defect.
Defect is not discovered during construction nor inspections.  Years later (
before statute of repose runs out) building is under contract to sell and
the inspection finds the defect.  Sale falls through.  Building is
remediated and there is a  subsequent sale but  for significantly less
money.  There is still some question about the defect and stigma attached.
Typically, a building owner can recover repair costs or diminution in value
but not both.  Can owner sue recover the lost sale damages separately from
the repair costs?  And under what theory?

Thanks

Greg

Gregory J. Johansen

Gregory J. Johansen P.A.

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Contractor builds a building containing a significant building defect. Defect is not discovered during construction nor inspections. Years later ( before statute of repose runs out) building is under contract to sell and the inspection finds the defect. Sale falls through. Building is remediated and there is a subsequent sale but for significantly less money. There is still some question about the defect and stigma attached. Typically, a building owner can recover repair costs or diminution in value but not both. Can owner sue recover the lost sale damages separately from the repair costs? And under what theory? Thanks Greg Gregory J. Johansen Gregory J. Johansen P.A. 4767 New Broad Street Orlando FL 32814 407-956-1050 407-514-2604 (fax) <mailto:gregoryjohansen@gjjlaw.com> gregoryjohansen@gjjlaw.com To ensure compliance with Treasury Regulations (31 CFR Part 10, Sec. 10.35), we inform you that any tax advice contained in this correspondence was not intended or written by us to be used, and cannot be used by you or anyone else, for the purpose of avoiding penalties imposed by the Internal Revenue Code. ___________ NOTE: This e-mail is from Gregory J. Johansen, P.A., and is intended for the recipient(s)only. If you received this e-mail in error, please notify the sender immediately, delete the e-mail and do not copy or disclose it. If you are not an existing client, do not construe anything in this e-mail to make you a client unless it contains a specific statement to that effect and do not disclose anything to Gregory J. Johansen, P.A. that you expect to be confidential. If you properly received this e-mail as a client, co-counsel or retained expert, you should maintain its contents in confidence to preserve the attorney-client or work product privilege.