What remedy do you have If you find that the home you purchased was very much misrepresented in age?

Question

The home I purchased listed from a real estate company had the home listed as a 15 year old home. The home is actually a 45 year-old home, but I was not aware of the misrepresentation until after the purchase. Because the home is built on wooden beams, I fear the home's structure--which already has damage--may become unstable in a short period of time. What options do I have?

Answer 1

Did you specifically ask about it and were lied to? All of that information is a matter of public record and you could have looked it up on the county property site. Your title company would also have it, it would have been on the title search info that you had to do to get a mortgage on the property.

Answer 2

All houses are built with wooden beams unless it is a house that was specifically built another way and for a specific client.

What is wrong with a house that is 45 years in age, I purchased houses that were older than 100 years, the work just fine and are in very good condition.

If you were concerned about the structure of the property you should have had a structural inspection done on it before you purchased the house.

The house will probably be standing long after you are gone.

You may find out through the public records as well it is on your appraisal that you should have been given a copy of once the loan closed.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 3

I will be the first to admit that I am not a lawyer, and have no experience with this problem. Most of the property I purchase is sold as-is.

That said, I don't believe you have much recourse. The age of the house isn't as important as the stability of it. I own homes built over a hundred years ago that are made of wood and standing fine. If you had the home inspected, and accepted the structural damage, then I don't think the age matters much.

Answer 4

If you puchased the home as is, worked with the owners (not through a realtor), you have no recourse.

If you worked through a realtor, you should have received information called a seller's disclosure, which would have disclosed any damage the seller's had knowledge of. The seller's agent should have verified any information provided by the sellers, such as the age of the home.

Build date is public record, you could have verified the information yourself before you purchased, there is some buyer's due diligence that should be exercised before entering into a real estate transaction.

I have owned homes MUCH older than yours, and they are still going strong. Many times old construction is much better than new construction.