Wrong information about house

Discussion in 'The Buying & Selling Process' started by DevKZ, 13th Oct, 2017.

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  1. DevKZ

    DevKZ Well-Known Member

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    Hi guys,

    I have signed up the contract for a house with usual condition (finance, building &pest).

    The real estate agents advertised this house as 2 years old but while I was doing the building inspection, I realised that it is actually a bit over 3 years old - I checked the completion letter from builder's company.

    2 years old house sounds much more appearing to people and it is almost like a brand new. On the other hand, 3 years old does not.

    The price that I have put definately reflected the 2 years young factor. What can I do in this case?

    Definately the agent gave me wrong information and got the contract signed up.

    Is there anything I can ask? also I will have less warranties left.. :(

    Thanks for reading and your feedback would greatly be appreciated.
     
    Last edited: 13th Oct, 2017
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    What documents did you receive which show that it was older than the agent was telling you? Is that on their advert? How long has the agent had the property? Did it just roll over to 3 yrs old? What is the remedy that you are seeking?
     
  3. Joynz

    Joynz Well-Known Member

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    How much more did you pay because you thought it was two years old compared to what you would have been prepared to pay it you had realised it was three years old?
     
  4. DevKZ

    DevKZ Well-Known Member

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    - "Inspection certificate of practical completion" issued from the building company with both the owner's sigature & the supervisor's signaure on it.

    - Actually it has been over 3 years when I viewed the property 1st time..but the agent told me its only 2 years. Until this morning, I believed it but found out the document above which says its over 3 years.

    - That is what im asking here. I paid for 2 years old house not for 3 years old.
     
    Last edited: 13th Oct, 2017
  5. DevKZ

    DevKZ Well-Known Member

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    Paid 825k for "2 years old house".. so it turned out 3 years old then maybe this should be adjusted? But then how much should be adjusted? Can it really be adjusted?
     
    Last edited: 13th Oct, 2017
  6. Trainee

    Trainee Well-Known Member

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    Then you knew it was at least 3 years old?
     
  7. MTR

    MTR Material Girl Premium Member

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    Do you have the building documents/contract that previous owner signed? this is important as its 7 years structural guarantee, dependent on State? If you had this you would have known who built it and when it was built etc etc etc.
     
  8. Joynz

    Joynz Well-Known Member

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    It is up to the purchaser to check - or get their lawyer to check - details like this.

    I don’t think an extra year will make any material difference at all to cost if the house is in good condition especially if it is a house rather than a flat.
     
  9. DevKZ

    DevKZ Well-Known Member

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    Yes. I just found out today during the building inspection - This is how I found out this is over 3 years house not 2 years.
     
  10. DevKZ

    DevKZ Well-Known Member

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    Today I had a building inspection and just found out the document - saying this is over 3 years old house not 2 years old.
     
  11. DevKZ

    DevKZ Well-Known Member

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    I found this document named "Inspection certificate of practical completion" issued from the building company with both the owner's sigature & the supervisor's signaure on it.

    This is how I found this house is 3 years old (or over) not 2 years.. Until this moring, I believed and I was told this is only 2 years old.
     
  12. The Y-man

    The Y-man Moderator Staff Member

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    What was the wording on the building inspection clause?
    Check with your conveyancing lawyer if you can crash the contract or lower your offer based on unsatisfactory inspection.

    The Y-man

    p.s. If you are buying in Victoria, the information would generally be in the Section 32, and we *never* take the agents' word for the age of a property (although most would say "approximately x-years old" or "near new")
     
  13. Joynz

    Joynz Well-Known Member

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    So you haven’t actually purchased the house?
    I guess you could 'cool off or maybe withdraw or change your offer to a level you feel reflects its reduced value in your eyes...
     
  14. dabbler

    dabbler Well-Known Member

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    I think your splitting hairs, 1 year, 5, 40, whatever, if it is suitable and price is right, what is the problem ?

    Should houses now be listed in months from completion? what about weeks, or days, then why not hours ? See how this gets ridiculous. And how do you start counting, what if construction was over 2 years and no one lived there for first year ?
     
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  15. dabbler

    dabbler Well-Known Member

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    And then there is the part of relying on your own inquiry, before going to contract, right ?
     
  16. Scott No Mates

    Scott No Mates Well-Known Member

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    It all comes down to the agent accepts no responsibility for the accuracy of the information provided to them by the vendor. If the agent didn't have the building certificate, they can't be held to task over the information.
     
  17. Otie

    Otie Well-Known Member

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    I wouldn’t sweat it. It’s going to make no difference to the value.
     
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  18. Terry_w

    Terry_w Broker, Lawyer, Tax advisor, Debt Recycle advisor Business Member

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    perhaps it is 2.5 years old and the agent rounded it down rather than up.
     
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  19. DevKZ

    DevKZ Well-Known Member

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    Ok. so just letting agent saying whatever they want to say without confirming?
    Are they legally approved to convey false information?
     
  20. Trainee

    Trainee Well-Known Member

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    Your going to suffer a heart attack in this business if thats your attitude.
     
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