A Recently Purchased $1,000,000 Home Was Discovered With Massive Termite Damage
It can be hard to imagine what one hundred thousand dollars worth of in-home termite damage looks like. People all around the world discover termite activity within their homes everyday. It goes without saying that repairing termite-induced damage can be expensive. However, one hundred thousand dollars worth of termite damage is pretty steep. One man, who prefers to go unnamed, has recently purchased a home for one million dollars. Apparently, the buyer was not aware that his recently purchased home had sustained extensive termite damage in the past. The buyer purchased the property in Sydney, Australia; and just like America, Australia also has laws on the books that require home-sellers to reveal past pest damage to homes before making a sale. Unfortunately for the buyer, the pest report that was included with the one million dollar real-estate transaction was incomplete. The pest report did not include termite damage beneath the floorboards. As a result of the new owner’s termite situation, he is attempting to remind all potential homebuyers to obtain complete and accurate pest reports before paying for a house.
In this particular case, the selling-agent was not entirely to blame for the incomplete pest report. The pest report clearly stated that the entirety of the home had not been inspected for pests. In fact, the report was even specific enough to suggest having the home’s foundation, as well as the areas below the home, inspected for pests. The buyer was relatively inexperienced at buying homes, so he simply assumed that the incomplete pest report included all the information he needed to know before throwing down one million dollars on the house. The termite damage was found beneath the floor coverings, which, according to the pest report, was where the home had not been inspected for pests. The selling agent willingly disclosed the fact that the subfloor had not been inspected. The buyer may have to pay for the entirety of the termite damage.
Do you think that the law allows for selling-agents to get away with fudging pest reports?Tags: Termites