Troubleshooter: New house warning

May 23, 2008 12:43:18 PM PDT
A warning for anyone looking to buy a new home. A Triangle couple is out hundreds of dollars after finding out the house they wanted to buy couldn't be bought. The Lyon's were excited to buy their first new home. Cherise Lyons tells Troubleshooter Diane Wilson, "We thought we were going to be new homeowners. They actually said we can buy this home." And buy the home quickly, as it was considered a quick sale, because foreclosure was looming. So after the Lyons' offer was accepted they moved forward with the sale. Roy Lyons adds, "We put on $395.00 for appraisal and $275.00 for inspection and all this under direction of realtor." But during the appraisal, just a few days before closing the Lyons learned the heart breaking news. The house had a lien worth more than $17,000 on it, meaning the house couldn't be sold until the lien was paid off. Cherise adds, "At this point my heart sunk because we put all this time into this house. We're just kind of stuck without our money. I feel someone should be responsible."

Troubleshooter Diane Wilson contacted the listing agent. She said she had no idea about the lien because the owner was not forthcoming during the property disclosure. She said she tried to work something out, but the liens were too high.

Roy Lyons says, "The house should have even been listed or on the market they should take steps this doesn't happen again." The Lyons' hope their misfortune helps others avoid losing hundreds of dollars when looking for a new home. Cherise adds, "Make sure you check everything before you go into contract and put out money for a house, make sure you're able to get it."

The listing agent also added this is an unfortunate incident, and blamed the owner for not disclosing it. She does warn that with the state of the housing market, she is seeing this problem more often. The best advice, if you're looking to buy a home do the title work on it before you put any money into the sale.


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