I just read on Yahoo about a couple who renovated and lived in the wrong condo! The Denver couple purchased a condo and began to renovate it and live in it, then later found out that they were working on the wrong unit!
Last summer, the couple was shown one of the units, and decided to purchase it. They were given the keys and moved in, and put thousands of dollars into the renovations. When they went to the town to get a map, they found that they actually purchased a different unit! It is a confusing story, but imagine if you were shown 104 Main Street, and decided to buy it, but somehow you ended up purchasing 106 Main.
I don’t know exactly who is to blame here, but the agents involved and the Title Company sure have some explaining to do!
Click here for the video clip: http://cosmos.bcst.yahoo.com/up/player/popup/?cl=12416382
I heard of a similar story recently when an agent was at closing with some buyers who were buying a vacant lot. They asked a question about the property during the transaction and the seller said, no, that is on the lot next door. They began to piece it together and realized they had bought the wrong lot. Luckily for them, the closing was not complete and they were able to stop the deal from going through. Unfortunately, the seller who thought his property was sold had to start all over.