Answers to frequently asked questions about damaged siding, class-action settlements and more.

If your home is currently for sale or you are considering selling your home, there are a few things you may want to be aware of if you are contemplating filing a siding claim.

If a closing date has already been scheduled and you have not yet filed a claim, it is best to wait and allow the new homeowner the opportunity to file the claim. The claim should be reviewed and approved for inspection by the Claims Administrator prior to the closing date.  If you have a closing date already scheduled, it would be nearly impossible to have the claim approved or inspected in such a short period of time.

If your home is listed but you do not have a potential buyer or closing date scheduled, you may proceed with filing a claim; however, there are a few things you need to know…

Sellers are required by law to disclose pending property claims to home buyers. If you accept an offer on your home and the closing date occurs before the claim settles, you will need to decide who is to receive the settlement funds. Depending on which class-action or warranty program your claim was filed, the settlement funds may be issued to you (the seller) or may be assigned to the buyer.  In either case, an Assignment of Claim (AOC) form is required.  The AOC form must be executed (signed and notarized) by the buyers and sellers and submitted to the Claims Administrator to ensure the settlement check is issued to the agreed upon buyer(s) or seller(s).

As long as the siding was not fully compensated for in the initial claim and the home has not been resided, the new homeowner(s) may file subsequent year claims for future damage.

If you are in the process of selling your home or thinking of putting it on the market within the next six months and still have questions, please contact our office.  Once your siding product is identified, we can advise you who the funds may be distributed to if the home is sold during the claims process.