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Seller lied about the year the home was built. Solution?

We bought a condo six months ago, and it is on the 3rd floor. Everything we received stated that the house was built in 1938 and that there was no new construction. Everything inside was new, so there had obviously been work to all of the units in the building.

After purchasing and moving in we realized that the building had been gutted in 2006 and that the third story was actually an addition at that point. We were told by the city's building inspector that because the third story was new, it should never have been advertised as 1938.

Is this true, and do we have any recourse options?
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August 20 2012 - Bloomingdale
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Answers (7)

Profile picture for wetdawgs
It appears that different parties have different definitions of "year built".   Your unit sounds like it was built in 2006, although it is an upper floor of a structure built in the 30s.       As the infrastructure is associated with building in the 1930s, if I were purchasing it I'd sure want to know that and would have been happier with the 1938 date than 2006. 
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August 20 2012
Profile picture for user9083519
I don't have any recourse in mind. I'm just trying to gain a better understanding of the process based on what the city's building inspector said to me. 

Put another way, there was no mention of a renovation of any kind. In fact, at one point they specifically said that there was no new construction. We are facing a ton of code violations which were not present during the home inspection, and when the city inspector was out recently they said that the home should not have been advertised as 1938 since our floor didn't exist in 1938.
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August 20 2012
Profile picture for wetdawgs
What recourse would you be thinking of?    

Most real estate advertising has disclaimers about information on properties is presented to the best of ability but up to buyer to confirm. 

Where I live, a major remodel with an addition would still be noted as 1938 building  with 2006 remodeling if remodeling date noted.   I don't see that the seller (or seller's agent) lied.
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August 20 2012
The listing agent looks at the town records, and it most likely listed the property as being built in 1938.  If it was rehabbed or an addition made later on, that may not have shown on the town card at the assessors office.  So instead of owning a property built in 1938, you own one built in 2006.    What type of recourse do you anticipate?
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August 20 2012
Ultimately, both the buyers agent and the sellers agent should have done all their homework. If the prelims stated that the home was built in 1938, then that is the correct date. Additions do not count as new. This should have been brought up before close of escrow.
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August 20 2012
I am curious what type of recourse you think you want or deserve. What do you wish would happen? Could you not do your due diligence, look around, and see that this wasn't bult and left intact since 1938?
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August 20 2012
From what you have stated the home was built in 1938 and remodedled or "added onto" which could give it an effective year built of 2006, but had the Seller said it was built in 2006 and you purchased would you not feel dupped finding out it was actually built in 1938? . Sellers are required to put the actual year built.
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August 20 2012
 
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Seller lied about the year the home was built. Solution?
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August 20 2012 | 7 answers
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