This case involves a house that was built with plumbing defects, inciting severe rat colony infestations and allegedly forcing the homeowners to rebuild the home entirely. The plaintiffs had a large Spanish-style manor them, complete with iconic rust-colored shingles and stucco walls, and an appraisal valued the property at $2,000,000. After three years, however, it became apparent that the house suffered from serious plumbing, pest infestation, and PEX pipe corrosion problems, which could not be fully repaired unless the house was torn down and rebuilt. There is a dispute as to the appraisal of the house and the cost of the project and both are needed to calculate damages.
Question(s) For Expert Witness
1. What is the cost of rebuilding the home?
Expert Witness Response E-004443
For a large house, appraisals can be difficult because there are more factors to consider. Additionally, an appraisal may need to be retroactive because the law in some jurisdictions is that the appraiser needs to establish what the value of the house was at the time the problem was discovered. I have been in the real estate profession for over nineteen years, and I have worked in several different capacities. I feel like my experiences make me well suited for an appraisal like this.
About the author
Michael Talve, CEO
Michael Talve stands at the forefront of legal innovation as the CEO and Managing Director of Expert Institute. Under his leadership, the Expert Institute has established itself as a vital player in the legal technology arena, revolutionizing how lawyers connect with world-class experts and access advanced legal technology. Michael's role involves not only steering the company's strategic direction but also ensuring the delivery of unparalleled intelligence and cutting-edge solutions to legal professionals. His work at Expert Institute has been instrumental in enhancing the capabilities of attorneys in case preparation and execution, making a significant impact on the legal industry's approach to expert consultation and technological integration. Michael's vision and execution have positioned the Expert Institute as a key facilitator in the intersection of law and technology.
