While most property transactions close without too much heartbreak and hassle, buyers should take note of the unusual case where one couple was sold the wrong lot.
Anything can happen during the buying process, but the story of how a Moncton couple ended up with the wrong piece of property is both scary and bewildering.
The first-time buyers wanted to buy a plot of land near Irishtown, but instead they ended up paying money for land some distance from their desired location and ‘For Sale’ sign and which is already owned by another party. And now the couple is now suing Royal LePage for the mix-up. The estate agent company is arguing in its defense that the previous owner of the land misled them and that the couple should have hired a surveyor to ensure it was the correct land.
Speaking to CREW, Realtor Richard Payne from Halifax says the buyers are right to sue in this case but warns all investors to carry out research on all industry professionals you work with.
“The bit about being misled by the current owner is not really a defence as we always check the legal owner on the land registry to the parcel of land,” he says. “They could have easily checked that the parcel was located in the right place as well.”
He says that a surveyor may have helped but would not have been necessary. “The surveyor would have picked up that the unique number ID for the land doesn't match the location that the buyers thought they were buying,” he says. “At some stage they would have looked at the same land registry and seen that the land size didn't match. Warning bells would've gone off then but again realtor and lawyer should have caught it long before that.”
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