Skip to content

Learn with Lawson Your Buisness News

Learn with Lawson Your Buisness News

  • Home
  • Privacy Policy
  • DMCA Policy
  • Terms and Conditions 
  • Contact Us
  1. Home
  2. /Markets
  3. /Homes were flooded in February, but real estate agents are under no obligation to tell buyers

Homes were flooded in February, but real estate agents are under no obligation to tell buyers

Markets / May 27, 2022 / DRPhillF / 0

Desperate homeowners are selling their property months after it was damaged in a flood disaster in southeast Queensland – but the risk of flooding is not always made clear to home hunters.

the main points:

  • A real estate institute says there are no laws covering the subject and encourages people to research before buying
  • Green State MP says some homes for sale online have not been reported to have been flooded recently
  • Brisbane flood maps haven’t been updated since recent events, house hunters urged to ask

While the damage is evident in many homes, it is not so in other homes and sometimes there is no mention of the listings.

ABC spoke with several real estate agents who said their clients made the decision to sell because they couldn’t bear the grief of enduring another flood.

Many said sellers were listing their damaged homes at a discount, hoping that insurance payments would cover any loss they incur.

Indoubili real estate agent Jessica King details a list of flood-damaged properties for weeks.

Her clients bought their “forever home” in Grassville on the west side of Brisbane last year hoping to move in when their two young children are ready to go to school.

They believed that they were decades away from another disaster.

“We were going to temporarily rent it out for 12 months, but then the floods hit,” King said.

“The havoc seeing her firsthand… It basically shattered them. They were honestly just shell-shocked.”

Jessica King, the real estate agent at Indobelli, said she has been working with families who have been hit by floods.(supplied)

The pair have now decided to sell and move to an area very far from the flood zone, but Ms King said buyers need to be realistic.

“The majority of Brisbane is on a flood plain,” she said.

“People need to be realistic with insurance and put a cat aside in case of a flood.

“This flood was very different from 2011. Some areas that had not previously been flooded were affected, and in some cases homes that were flooded in 2011 were not affected by this flood.

“Buyers need to understand that now it’s not about buying in a flood zone, and more about building flood-proof homes.”

Amy McMahon lifts a chest full of flood-damaged merchandise.
Greens MP Amy McMahon says people should make potential buyers aware of flooding when selling a property.(supplied)

Amy McMahon, Member of Parliament for Southern Brisbane Greens, said many of her local constituents claimed they had not been told their homes had been flooded when they bought them or started renting them in the area.

In the days following the February flood, she was helping clean up a batch of units in eastern Brisbane.

Weeks later, she said, four of the five units were listed for sale online.

“The list did not mention that just a few weeks ago, those apartments had really serious flooding,” she said.

“It is the responsibility of sellers and landlords to notify people if a property is flooded so that people do not have to go through this again.

Otherwise, you are putting people’s homes, lives and property at risk.

Agents are not required to inform potential buyers

Antonia Mercurella, chief executive of the Real Estate Institute of Queensland (REIQ), said there was no legal requirement for agents to tell buyers that a home had previously been flooded.

“We do not have a uniform legal disclosure system,” she said.

“The Queensland government has engaged a group of stakeholders to review this issue and possibly consider a new and more modern form of legal disclosure when it comes to the sale, but at this point this group is not recommending flood disclosure.”

Woman looking pensive while standing outside a building
Antonia Mercurella, CEO of REIQ, said there is no legal requirement for real estate agents to tell buyers that a home has been flooded before.(ABC News: Lexi Hamilton Smith)

She said this is largely because buyers can get the information elsewhere, either by talking to neighbors or an agent, or through flood mapping.

“If an agent or seller of a property is asked if the property has been affected by the flooding, it is clear that an accurate answer is needed,” Mercurella said.

“if [they] She would have given a wrong answer about it, that would definitely constitute illegal behavior.”

Ms. Mercurella urged buyers and renters to do their research before making an offer.

“A lot of these events are now unpredictable.”

Judna resident Julianar Hellwig can appreciate flood-damaged property owners desperate to leave.

Jessica and Juliannar stood side by side in an abstract back room.
Jessica and Julianar Hellwig say they now want to leave our Judd. (ABC News: Laura Lavell)

She was away on a trip in Melbourne when her daughter Jessica called, saying that the house they had only occupied for three months and had just finished renovating the day before, was running out of water.

“It was just sleepless nights,” Jessica said. “Like, it’s awful to live through that.”

Hellwig didn’t believe her daughter until she saw pictures of her home in the news.

Three months later, signs on the window show evidence of rising water. Plaster was ripped off the walls and donated furniture filled the lower levels of their home.

Hellwig said she knew the area was in a flood zone, but thought it would be decades before the last “one in 100-year flood” hit.

The basement of a two-story house completely submerged in flood waters.
The lower level of the Hellwigs house was flooded. (supplied)

They have now applied for the Queensland Government’s buyback scheme.

When asked what it means for her and her mother to get out of the zone, Jessica said, “Everything.”

“It is not sustainable to live in fear of floods all the time.

“It’s one of those unforgettable things.”

Dilapidated kitchen.
Hellwigs had only finished renovating the day before when floodwaters entered their home.(Supplied: Jessica Hellwig)

Hellwigs said that if they could go back in time, they would never buy the property.

“I feel like a lot of these events are now unpredictable and you just can’t look at that and make an informed decision about whether or not to buy a property,” Jessica said.

Brisbane City Council said its flood maps were last updated on May 28, 2021.

“We continue to use the latest technologies and innovations in mapping to provide residents with the latest and best flood information available,” a company spokesperson said in a statement.

“The Council will use the new data obtained as a result of the 2022 weather event to update the existing knowledge base for flood studies.

“Data from the recent weather event will be used to inform future updates as soon as possible.”

Related

Brisbane floods, Flood damage, Flood disaster assistance, house for sale brisbane, house for sale ipswich, Ipswich Floods, Real estate

DRPhillF

Shortage of infant formula: Out of stock rates rise to 70% The US economy may be heading for a recession, the economist warns: "100% odds" of a global slowdown

Related posts

4 Negotiation Points Startup Founders Should Focus on in a Bear Market – TechCrunch

4 Negotiation Points Startup Founders Should Focus on in a Bear Market – TechCrunch

Why Roblox Stock Was Higher During a Bearish Day for the Markets

Why Roblox Stock Was Higher During a Bearish Day for the Markets

Farmers markets make the world go round!  – WISH-TV |  Indianapolis News |  Indiana weather

Farmers markets make the world go round! – WISH-TV | Indianapolis News | Indiana weather

Fund selling takes grain prices below midday chart support |  Tuesday 5 July 2022

Fund selling takes grain prices below midday chart support | Tuesday 5 July 2022

Are markets underestimating how far the Fed should go to tame inflation?

Are markets underestimating how far the Fed should go to tame inflation?

The global crop micronutrient market size is expected to reach US.7 billion by 2028, growing at a compound annual growth rate of 7.5% over the forecast period.

The global crop micronutrient market size is expected to reach US$8.7 billion by 2028, growing at a compound annual growth rate of 7.5% over the forecast period.

Latest posts

Dmitry Medvedev says oil could exceed 0 if Japan imposes a price cap

Dmitry Medvedev says oil could exceed $300 if Japan imposes a price cap

4 Negotiation Points Startup Founders Should Focus on in a Bear Market – TechCrunch

4 Negotiation Points Startup Founders Should Focus on in a Bear Market – TechCrunch

US gas prices fall for 21 days in a row

US gas prices fall for 21 days in a row

Why a recession could hit San Francisco more than other cities

Why a recession could hit San Francisco more than other cities

Why Roblox Stock Was Higher During a Bearish Day for the Markets

Why Roblox Stock Was Higher During a Bearish Day for the Markets

Standard & Poor’s 500, Dow down as recession fears mount

Standard & Poor’s 500, Dow down as recession fears mount

Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • Latest
  • Economy
  • Personal Finance
  • Markets
  • Entrepreneurship

Copyright © 2022 Learn with Lawson

Search

Contact us