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Re: What can i do, I was CHEATED

  •  07-10-2008, 8:37 PM

    Re: What can i do, I was CHEATED

    The issues that jump out of this for me are where the agent persuaded you not to obtain a pre-purchase inspection, and then assuring you that the body corporate would deal with any structural issues.  Estate agents are always in a position of conflicting interests when they purport to advise or assist purchasers.  This is because the estate agent's contract with the vendor has the effect of making the agent a part owner of the property (usually to the extent of about 3%) and this can only be realised upon sale.  Thus, the estate agent cannot be independent or impartial when offering "advice" to a purchaser.

    Unfortunately, the law tends to assume that a purchaser has conducted all due diligence inspections and enquiries, and the estate agent cannot be blamed  because a purchaser fails to check things out.  The maxim "buyer beware" is ruthlessly exploited by estate agents.

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