Allan and Herme Spear got more than they bargained for when they purchased a Victorian era do-up in Dunedin and discover just how important it is to inspect a property ON THE DAY OF SETTLEMENT.
The Spears had visited the property the week prior to settlement, but when they asked to visit once more they were told they had used up their right to one pre-settlement inspection, and were denied access again prior to settlement.
After their settlement was processed they arrived at their new home and got the shock of their lives to discover some time in the last week there had been a fire in the living room.
There was a burnt patch on the floor and wall in the lounge, soot on the walls and ceilings and a window had been boarded over. The smoke damage, they say was so significant they could not stay in the house.
They tried to contact the vendor but she seemed to have vanished in a puff of smoke. Her lawyer offered them $1000 to rectify the damage, but they say that was nowhere near enough to cover it. They got quotes of $14,000.
Because the fire was lit prior to settlement, their insurance wouldn't cover it.
The next time they contacted the vendors lawyer they were told she was no longer acting for the vendor. Rumours started surfacing that the vendor had actually lit the fire herself!
With no idea where the vendor had gone they came to My House, My Castle for help. We hire a private detective and track down the vendor in Auckland.
THE TRUTH ABOUT RENTING VS BUYING
New Zealanders have long had a love affair with home ownership. But is it really the best move financially? Would you be better off renting forever? We crunch the numbers and reveal the pitfalls and pluses to both owning and renting.
CASTLE OF THE YEAR FINALIST - CONTAINER HOUSE
Tonight's Castle of the Year finalist Ross Stevens loves a challenge - so when a slice of cliff on the side of a busy road in Wellington was rumoured to be impossible to build on he bought it. His super stylish industrial chic abode is built out of three refrigeration containers stacked on top of each other and other recycled materials. Stunning.