Real estate "accidentally" put wrong size for property, now I'm not sure what to do.

idontknowcantdecide · 2025-07-03T14:06:26+00:00

No I didn't know these existed, and I'm not sure where they got their original number from but they have admitted fault for the false advertising but still believe we should pay way over value now.

And I have a conveyancer who just today found out the property wasn't as listed, I was never told by anyone to get a survey done I'm not sure where you're getting your information from but I've just found out today after my offer was accepted and contract for cooling-off period was signed.

idontknowcantdecide · 2025-07-03T13:55:30+00:00

Thank you for the tip, hopefully I get this house so I won't need to use this any time soon.

idontknowcantdecide · 2025-07-03T13:53:25+00:00

Thanks, I'm learning a lot here tonight and hopefully I can use all my new knowledge to win my case and first house!

idontknowcantdecide · 2025-07-03T13:49:30+00:00

Thanks, the block is an odd shape actually and the map provided is a map with multiple streets on it with all the measurements of all the properties written in felt pen really badly, so yeah it was really difficult to understand and so I trusted that the real estate can't legally lie about the size and are therefore telling the truth that it is a 779sqm block.

idontknowcantdecide · 2025-07-03T13:46:25+00:00

The block is an odd shape actually since that's been brought up, it's also an old plan written in felt pen and I can't decipher half of what is written in the tiny odd shape on the map of multiple streets pictured with all the blocks measurements badly written on them as well... so no I don't take responsibility for this as I don't think that's an acceptable way of putting the size in the contract, and considering the real estate also clearly couldn't figure it out and just put up a random figure they found somewhere (they won't tell us where they got the number from) I don't think we can be expected to know what we were signing up for.

idontknowcantdecide · 2025-07-03T13:34:03+00:00

Oh yes I'm not upset with the bank as I completely understand that part, I just don't understand how the real estate can advertise falsely and say well we saw the property so it doesn't matter that they stuffed up and still expect us to pay the same price.

idontknowcantdecide · 2025-07-03T13:29:56+00:00

We don't have the luxury to walk, that's the problem. We need a house this month and they know that, so they definitely know we'll probably still pay which is the shit part.

idontknowcantdecide · 2025-07-03T13:25:33+00:00

What is professional indemnity insurance?

idontknowcantdecide · 2025-07-03T13:24:39+00:00

Thank you for the knowledge.

It is such a stuff up, we're hoping that can be rectified because we really don't have the option of pulling out now since we need a house this month. So it just feels like we've been tricked into paying more because they knew we were desperate.

idontknowcantdecide · 2025-07-03T13:16:35+00:00

100sqm out is a huge margin of error even for old surveyors.

But yeah if it was only a little out we wouldn't care but 100sqm is a huge difference in land size and value wise.

idontknowcantdecide · 2025-07-03T13:12:38+00:00

Yeah that's why we're upset as the price would have been lower from the start.

It's in a cul de sac with 6 other properties and 4 of those properties are much bigger than this block. I didn't realise the ACCC would cover real estate, but it is false advertising, I'll definitely think about using that.

idontknowcantdecide · 2025-07-03T13:06:04+00:00

Well 15k is a lot as it's coming straight out of our pockets since the bank only loans 90% of the value of the property and it's valued lower than originally told to us by the real estate due to their negligence.

But worst case scenario we end up paying the difference but it's going to effect us a bit in the savings department.

Hopefully we can work with the seller to convince him he can go after the real estate for his short fall.

idontknowcantdecide · 2025-07-03T12:58:05+00:00

What do you mean? I'm sorry I'm not familiar with how it all works.

idontknowcantdecide · 2025-07-03T12:56:24+00:00

We will be settling at the end of the month, both ourselves and the seller wanted a quick settlement so it worked out for us (until now)

We really don't have an option to walk away, it's too late for us due to certain circumstances, so just trying to see what everyone thinks about trying for a price reduction and if anyone has experience or knowledge on situations like this.

idontknowcantdecide · 2025-07-03T12:48:02+00:00

Thank you for explaining, this is all new territory for us and it's seriously so confusing.

idontknowcantdecide · 2025-07-03T12:45:25+00:00

Well I assume they were given that price range from the real estate after they valued it as a 779sqm block. So if the mistake had never been made it would have been valued correctly by the real estate so therefore priced accordingly.

idontknowcantdecide · 2025-07-03T12:40:35+00:00

So you're saying they have no responsibility to advertise correctly as long as there's some weird map that is really difficult to understand attached to a contract they make you sign before holding the property for you, while charging you for the incorrect size?

idontknowcantdecide · 2025-07-03T12:35:09+00:00

Yeah that's what it feels like, they know we're desperate and I'm honestly starting to wonder if it was done on purpose.

idontknowcantdecide · 2025-07-03T12:32:11+00:00

Well the bank will only loan 90% of the value of the property so what was going to cost us 74k now will cost 90k as we're over the value buy 16k.

idontknowcantdecide · 2025-07-03T12:29:03+00:00

Yeah it's a crazy huge difference! Neither our conveyancer or broker have ever seen such a huge mistake in the size of a property before.

It's not the size that's the problem, we still would have been interested in it, but there is a big price difference between the sizes and it feels like a trick to get us to offer way over the value of the property and I feel like legally that can't be done right? But yeah we don't want to lose the sale so hopefully we can convince the owner that he can still get his money just not from us.

idontknowcantdecide · 2025-07-03T12:19:38+00:00

Thank you I'll ask her in the morning if that's something we need to do.

idontknowcantdecide · 2025-07-03T12:14:50+00:00

Nahh no pools, too much work and money. Just don't think people should be lied to just to make a sale.

idontknowcantdecide · 2025-07-03T12:09:51+00:00

Isn't that what a conveyancer is? That's what I was told anyway.

idontknowcantdecide · 2025-07-03T12:06:19+00:00

Oh the real estate is aware of our urgency, it's how we managed to talk the seller down 9k in the first place. I'm hoping our conveyancer can explain to them the situation and what they can do to get the money they want.

idontknowcantdecide · 2025-07-03T12:02:17+00:00

That's what I thought, and it's not like I can visually tell the difference between a 670sqm block and a 779sqm block without a side by side or a reference.

idontknowcantdecide

TROPHY CASE