Anyone got any horror stories?

Read the below and had a friend go through a terrible issue.

Is it a cultural practice?

https://www.luxtimes.lu/luxembourg/family-thought-they-had-bought-their-forever-home-until-they-found-asbestos/107211145.html?utm_source=luxtimes&utm_medium=newsletter&utm_content=xl_teaser&utm_term=0-0&utm_campaign=morning_edition

by Italian_Saffa_Boy

12 comments

  1. Well that is why you hire an expert bâtiment before putting down 1M in an asset… I recommend Molitor Expertise btw, very professional and full report given (did it a couple of months ago).

  2. real estate agent are finding methods to outsmart the laws, for example to rent an appartment 2000€/month you and the landlord need to pay 50/50 agence fees; the agence now doubled the amount of the fees to 4000 € and make you pay 2000 € which makes the new law useless (with no gurantee that the landlord payed the same amount)

  3. I think every country has Caveat Emptor when buying a home. It sucks, but it’s just how it is.

    But then, if you’re spending €1 million, the €6,500 repair is less than 1% of the property’s value.

    I feel for the buyers, but I also cannot see how sellers can ensure a brand new condition home, when they’re not selling a brand new home.

    Edit to add: also, the asbestos is outside and undisturbed, so doesn’t pose a threat the whole time it remains in place

  4. It’s still a forever home. They’ll just die in it sooner than they expected.

  5. Ehm…. you buy a 1M€ home and then complain about 6.5k€ for the removal of a defect?

    Yes, it’s unfortunate that people lie and tell half-truth or just blabber when they have no clue. But the neighbors lived there and raised 3 kids there… if they wanted to screw the guy, congrats on playing the long game.

  6. Cultural practice lol what?
    I’m sure real estate agents are always a good representation of any country’s cultural practice. /s

    They sell on behalf of the seller and only make money upon realization of sale, which makes for a bit of a bias so you are still expected to do your own homework.

  7. The story is completely over inflated. As others have pointed out it’s 6500€ on a million house. In the same scale as a pipe bursting after you buy or other issues. Where the sellers a bit cheeky, probably, but the damage isn’t worth the noise made for it. When you buy an old property you also buy maintenance and surprises, want to avoid some of it, get proper builder in to check, not an architect.

  8. This is why I appreciate the British system of buying property. Enquiries before contract: the sellers are obliged to answer standard questions about what they are selling, and this would have come up. If they don’t mention it, there’s a potential claim for damages to cover the cost of removal.

    Here, you’re on your own. The notary is only interested in his fees and the sellers can hide behind an absolutist version of caveat emptor.

  9. What was the architect there for? Good vibes?

    Mine wrote in the technical inspection that no asbestos is present. If this ever turns out to be untrue, I feel like the responsability should fall on him, no?

  10. This is why you hire a surveyor. And having asbestos is very common in older homes. It’s perfectly safe until disturbed.

  11. I mean the dude realised that there might be asbestos and didn’t asked it to be added to the compromis? 

    if you suspect that something is off with a property then put it in writing 

    PS: with pre-2003 properties, assume that there’s asbestos and reflect that in your offer or include something in the agreement to accommodate that risk  

  12. If the owners didn’t knowingly deceive you (called “vice caché”) there’s no recourse.

    I also feel this article is massively dramatising this particular case: the buyers endured a rather small cost for removal (6.5k is not peanuts, but it’s not going to ruin you if you can afford a million euro home) and the asbestos was in these shingles on the outside of the house, which makes the health risks minor to non-existant. The real risks are when it’s used in insulation and creates dust that will be inhaled in closed spaces and would necessitate extremely costly renovations and decontamination costing multiples of the cited amount.

    So all this “can somebody please think of the children” was completely unnecessary and these shingles could very well have remained in place for as long as they didn’t start breaking apart without any major health risk

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