We explore the consequences of purchasing off the plan, especially in areas with new subdivisions, where the history of the land is often obscured. The land might have been leveled from farmland, hills, or filled-in dams—but without proper transparency, the buyer is left in the dark. Could something similar happen to you?
Our discussion also covers the challenges homeowners faced after the damage was discovered, including compensation complexities, demolition, and the bitter reality of living next to a demolition site. We highlight the critical importance of due diligence, particularly when buying in new estates, and how to protect yourself from similar risks.
Tune in to understand the key lessons from this case of unstable land and sinking homes, and learn how to avoid falling into a similar trap when buying property. Your dream home shouldn't become your worst nightmare.
➼ Owners fear more damage to homes over bulldozing fix at 'sinking' Western Sydney suburb - ABC News https://ab.co/3WUl9OH
➼ Mystery over Sydney's sinking houses deepens as desperate homeowners seek answers in Glenmore Park, Box Hill and Jordan Springs https://bit.ly/3MbQoQc
➼ Your First Home Buyer Guide Podcast Episode 186 Buying New or Off-Plan? Your Guide to Managing the Risks https://homebuyeracademy.com.au/podcasts/186
Veronica Morgan & Meighan Wells
Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.
Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!
Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.