Off by 23 years on house listing?????

**DIESEL** · 01-26-2011, 11:10 PM

Hello all, I was hoping someone could help me out here. I bought a house about a year ago that was listed as being built in 1977. About a week after I closed on the house I found out that it was built in 1954! Has anyone ever been in this situation, do I have any recourse, is my house worth what I paid for it? Thanks in advance.

**Greg** · 01-27-2011, 06:26 AM

We don't know what you paid for it compared to similar properties. If other houses built in the 50s in the neighborhood are selling for what you paid for the house then it is worth what you paid for it. If you paid a higher price than similar houses built in the 50s then you might have paid too much.

Did the appraisal miss it too? Talk to your appraiser.

Is your house insured as a 1977 house or a 1954 house? Insurance companies treat them differently.

**DIESEL** · 01-27-2011, 11:04 AM

It was appraised as a 1977 house, and its insured as the same.

**DIESEL** · 01-27-2011, 11:11 AM

I havent even begun to tell you about the rest of the problems I encountered. After I bought the house that was supposed to be "MOVE IN READY" I had to sink about 20 grand just to make the place livable. And yes it was inspected. HA HA.(Sarcasm)

**flash.investing** · 02-16-2011, 08:50 PM

If you don't really love this house, it sounds like you may have enough to go to a real estate attorney and see if there is any recourse. Misrepresentation by the appraiser and the inspector???? Did you have a chance to see the house before you bought it?? Who represented you? Real Estate agent? Did you take out a mortgage? This is starting to sound like you were swindled. I would get together all the documents (appraisal, insurance policy/binder, title commitment, inspection and settlement statement) and consult a lawyer.

**DIESEL** · 02-16-2011, 10:09 PM

I already have consulted a lawyer, but he needs 3 grand for a retainer and I am laid off. There is no guarantee that I will win so I hate to throw good money after bad money. Yes, i did see the house before I bought it, and had it inspected.