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Misleading Real Estate ads

Discussion in 'Real Estate' started by Jacque, 10th Jan, 2009.

  1. Jacque

    Jacque Team InvestEd

    16th Jun, 2005
    We've all come across them- RE ads that claim outrageous claims of ocean views (shot taken from roof with zoom lens) renovated kitchens (last decade is close enough) and delights such as the private balcony (facing onto a shopping centre) etc etc.

    I come across them regularly (naturally) but have had reason to get more than a little annoyed recently with completely untrue statements blatantly plastered across the glossy brochures and online ads.

    The trouble lies in the agent's disclosure and knowledge about the particular property being sold. "Material fact", by it's very definition, is supposed to encompass all facts (whether to the agents knowledge or not!!) about a property, with most agents simply taking the vendor's word about the information on a particular dwelling. Recent examples have included land size, aspect, home builder, size of internals/garage and walking distance times. The most recent one is a doozy, with the ad claiming that the unit is the LARGEST IN THE COMPLEX. A complete fabrication, however, with the strata plan revealing at least 2 other units of larger size.

    It can be highly frustrating for buyers when a property turns out to be something it's not. Sometimes it's obvious eg: ocean view. Sometimes it's not eg: land size, boundaries etc I suppose the point I'm making is that it pays off to NOT believe the written word when it comes to RE ads: check out the facts for yourself if unsure (or get your legal advisor to do so) and don't rely on the REA's word. Remember that their facts could have come from an unreliable vendor.