Jeffsthompson, Home Buyer in Wappingers Falls, NY

Incorrect number of parking spaces listed on MLS for recently purchased townhouse in NY state. What can I do?

Asked by Jeffsthompson, Wappingers Falls, NY Thu Jul 22, 2010

I recently purchased a townhouse in NY state. The MLS showed 2 designated parking spaces for my unit. After signing at the closing, I was given afolder of all documents regarding the condominium complex. I was only designated one parking spot. The reason I chose to purchase this property over another (which was in a better location) was because of the extra parking space. Is there anything I can do to either a) get another parking space, or b) get monetary compensation for the error?

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Jeff I think you should have addressed this with the attorney immediately after discovering the issue. When purchasing, a buyer should do their due diligence and since this was such an important factor a discussion with both agent and attorney would have been the way to go. Did you look at any document provided by the property management team for the townhouse complex prior to closing? Next question what sort of representation did you have? Seller's agent or buyer's agent?
1 vote Thank Flag Link Thu Jul 22, 2010
Jeff -

I'm not sure abotu NY, but in CA and TX where I am licensed the Seller, Buyer and the Agents get a Preliminary Title Report just after the contract is signed - that's the policy of insurance that covers the sale of the property and any issues such as parking. In that Preliminary Title Report and ultimately in the FINAL Title Policy, the details of what is included in your Deeded property is fully outlined.

Believe it or not I had this EXACT situation in California. One of my agents represented a BUyer on a Condo. Our Agent had been told by the Listing Agent (and it was in the MLS), the property had ONE parking space (this is in Los Angeles where parking is a huge premium). Our agent didn't fully understand the Preliminary Title Report and worse he didn't ask anyone about it. The transaction closed, the new owner started parking in the space he was told by the seller (and our agent). The seller didn't own a car so he never actually used the space while he owned the Condo.

A few days after the new owner moved in and parked in his space, a neighbor broke down the door to his condo and told him to move his car out of the space. (come to find out she was renting a unit in the buidling with that space)

Long story short, when we looked deeper into the Title Policy, NO space was deeded to that unit. The space did belong to another unit.

The new owner (our client) sued the Seller, the Listing Agent, the Listing Broker, the Selling Agent, and our Broker. It took a full year to get it resolved and this was in the midst of the housing meltdown - so not only did he not have a parking space, but the value of the property had also decreased by more than 50%.

The resolution through Mediation and Arbitration, was a cash settlement shared by the Listing Brokerage, Selling Brokerage,and their Errors and Omissions Insurance Carriers.

I am NOT suggesting a lawsuit. But, you need to contact YOUR agent and Broker (hopefully it's not the same agent / broker on both sides) and let them know you are unhappy, the number of spaces was misrepresented in the MLS and they need to contact teh Listing Broker to work something out. Brokerages have insurance for Errors, Omissions & mistakes.

Finally, NEVER depend on the MLS for anything - your contract probably said that in many places. The buyer must verify everything at their own cost prior to closing.

Best of luck and let us know how it turns out.

Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage. It is never beneficial to the Seller or to the Buyer and it is only beneficial to the Agent.
888-391-5245 Direct Cell
thom@thomcolby.com
http://www.thomcolbyproperties.com
0 votes Thank Flag Link Thu Jul 22, 2010
My agent and I looked over the MLS when we were initally looking at the townhouse, and I mentioned the extra parking spot was a big factor in my buying decision. I assume she took the MLS listing as accurate, as did I. I didn't find out about the single parking space until after the closing when I was reviewing the documents in my car. I never bothered to bring it up until now because I am interested in purchasing a second vehicle. It has been one year since the closing.
0 votes Thank Flag Link Thu Jul 22, 2010
Your best source of information at this point is your attorney, consider a consultation and see exactly what options you may have--he/she can best advise.
0 votes Thank Flag Link Thu Jul 22, 2010
My MLS has a disclaimer that says "Information Deemed Reliable but not Warrantable". Did your agent write in that 2 designated parking spaces were included? Were the two parking spaces deeded to you at closing? I suggest you ask your buyer's agent and the closing attorney.
0 votes Thank Flag Link Thu Jul 22, 2010
Did you ask your real estate agent or attorney about the parking spaces before the closing?
0 votes Thank Flag Link Thu Jul 22, 2010
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