The plaintiffs, Michael Christopher Giamou and Loren Andrea Giamou, sought damages for a vendor take-back mortgage (VTB) against Naeem Ahmed, who counterclaimed for civil fraud and negligent misrepresentation, alleging the plaintiffs failed to disclose a foundation leak.
The court denied Ahmed’s request for an adjournment and found that the VTB was enforceable, as Ahmed admitted to its terms and failed to make any payments.
The court held that the foundation leak was a patent defect, discoverable by inspection, and that the plaintiffs had not concealed it.
Ahmed’s counterclaim was dismissed, and the plaintiffs were awarded $320,000 plus prejudgment and post-judgment interest at 18%.
