Financial expert warns: Buying a house without checking for defects can be expensive

Financial expert warns: Buying a house without checking for defects can be expensive

According to a report from www.schwaebische.de, Annegret Brielmann from Sigmaringendorf is facing a big problem with a house that she bought almost three years ago. After the purchase, it became apparent that the house had significant defects that the seller was said to have concealed. Now she is trying to cancel the purchase, which is leading to a lengthy legal process. The house that she bought for almost 600,000 euros is worth significantly less due to the defects and the changed market situation.

The shortage of real estate on the market, which has led to rising prices in recent years, has been reversed. Due to rising interest rates, demand is decreasing and there are more properties on offer, which in turn pushes prices down. This also has an impact on the value of Brielmann's house. Experts estimate that correcting the defects would cost between 150,000 and 200,000 euros.

Annegret Brielmann tried to sell the house, but the current market value of the house is far below the original purchase price due to the defects. The situation is made even more difficult by a loan she has taken out that she has to service every month. These bad omens mean bleak prospects for the homeowner who no longer wants to be a homeowner.

It is important to note that this case serves as a warning to both buyers and sellers of real estate. When making both purchases and sales, it is important to carefully consider all aspects of the transaction and, if necessary, seek expert advice to avoid unpleasant surprises.