I found a cottage in Sydney that was advertised as newly renovated, with architectural plans already done for extending the property up 2 floors.
The plans were a farce…appears to have been written on a napkin while somebody was having a coffee break, and I just got a structural report outlining several and costly structural defects not addressed(or covered over) when it was renovated. ie, I will be out of pocket by about $20,000 to get it right.
What are my rights here?
The real estate agents have my deposit. i feel the repairs needed should be subtracted from the agreed price offered.
FfionaHi Fiona
Did you have a ‘subject to satisfactory builder’s report’ clause?
Have you raised the issues with the agent?
I would pay the dollars and have a solicitor review your situation and advise you. It may save you a lot of money in the long run.
Good luck.
All the best…Giraffe
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Email MeDefinitely talk to the agent first before Solicitors. I would think you could pull out of the contract because of the Architect plans advtsg. alone. Unfortunately its buyer beware regarding the renovations.
Fern
Hi Fern and Giraffe, thanks for your help. The sale was pushed through prior to Auction and my mother, who lives in Sydney is my power of attorney, and she signed the offer contract for me. I have spoken to the agent and waiting for a reply.
The Agents exact words to interested buyers present(she has their names and numbers) and in front of me and my mother, was,”The seller had plans to develop the properties(an identical one next door renovated at the time) up 2 more floors, but she got pregnant, and so decided it was too much to take on, and kept them both as single story. She also told me that prior to renovation, both properties were getting $300/wk rent when they were derelict(and they were derelict; I used to walk past them).
I’ve been offered $300/wk for it now, post renovation, and strongly advised to take it.
Having architectural plans that I was led to believe that had not been used because of untimely pregnancy was a major incentive in putting a bid on this property.
[hmm]
FfionaHi Ffiona,
If you included (did you?) the satisfactory building inspection report clause in the contract of sale then I would action this for your own peace of mind. If you have not included this clause then I suspect you will have great difficulty ‘getting out’
Either way I wonder whether this property is suitable for you given the distance you live from the property.
Just my thoughts.
Derek
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0409 882 958It’s been a while but contracts in NSW usually warrant that the purchaser is not relying on any parole statements made by agents or others in relation to the sale.
Or are you saying that you bought under auction conditions prior to auction???
Statements made by sales agents don’t carry much weight and should never ever be relied on. You are buying what is desrcibed in the contract not whatever dribble comes out of the agents mouth.
It really depends on how far down the road you have gone in relation to this sale.
Cheers
Don
D&L Property Projects NZ Ltd
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