Today my client went closing on a new home (new construction.) A closing that had been delayed to a lawsuit filed by one builder against just about everyone they could think of in a Northern Virginia neighborhood. I’m going to use discretion and keep out specifics of the situation but it shows that even though a builder’s financial situation could be on death’s door the attorney’s are still working.
What surprised me about this situation was that 90% of the homeowners who were impacted by the lawsuit never had a clue. They will probably find out when they go to sell their home in the future and the title company shows a lis pendens that was attached their home and then released. How can a lawsuit be filed and everyone not be notified?
Since the builder is public it is easy to see their value (or lack thereof) and it isn’t pretty. Hopefully the attorney’s for this builder aren’t working on contingency or they could be standing in line for payment when the lights go out.