Over 80% of the new construction condominium and condo conversion projects completed in the past 10 years have been involved in some form of construction defect litigation. California law has up to a ten year statutes of limitation on any new construction defects. Many of these lawsuits provide solutions to existing homeowners, but create some real problems for buyers looking to purchase a condo within a complex that is involved in active litigation. Learn more about lending options for properties involved in litigation and how to determine if an HOA is involved in a lawsuit.
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