Colorado Springs Vintage Homes Blog

Real Estate Dictionary, “L” is for Latent Defects

Knowledge is Power — Real Estate Dictionary

  For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com

I’m looking at buying a house in Rockrimmon, and my Colorado Springs Realtor said that I should check for latent defects, what is she talking about?   A latent defect is a physical weakness not noticeable after a reasonable inspection of the property.  Since some homes in Rockrimmon were built over old mines; you may want to have structural engineer involved in the inspection.

Why do I need to find out if a home in Old Colorado City has lead-based paint in it?  Because, lead-based paint is a hazardous product that is no longer manufactured and it is potentially poisonous   The presence of lead-based paint must be  disclosed to buyers and tenants residing in a property built before 1978.

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Tags: Colorado Spings Real Estate, Colorado Springs CO homes, colorado springs co real estate, Colorado Springs Realtor, Homes in Colorado Springs, lead based paint, Legal age, mechanic liens, mechanics lien, Real Estate Dictionary

Nightmare for new home owners — liens filed against property

 Liens are everywhere

Get a Free Market Analysis on your Home, Email KTorline@msn.com  or call 719-287-1049

I came across an article this morning published by KOAA that quickly caught my attention.  The article states that homeowners in Southeast Colorado Springs received a notice of intent to file a lien from the contractor, Avalon Building.  The lien claims that the developer, Lorson Ranch, owes money for building streets and installing utilities in the neighborhoods.   The article goes on to state  ”We’re not liening the homeowner, we’re liening the property and it’s the only way we have to protect our rights to get paid, said Avalon President Dan Herman.     In a statement, attorneys for Lorson Ranch say Avalon Building, …has not completed its work on the project and has failed to honor its financial obligations to its subcontractors. The statement goes on to say, “Avalon will not be paid for incomplete or unperformed work.”  

Lorson Ranch is a 1400 acre master planned community east of Marksheffel Road at Fontaine Boulevard in Widefield.   It was also the location of where ABC’s Read the rest of this entry »

Tags: Colorado Springs Homes, Colorado Springs Real Estate, Colorado Springs Realtor, Homes in Colorado Springs, liens, lorson ranch, mechanic liens, new homes in Colorado Springs