Purchased a home and land at auction. Advertised and sold at 'approximately 3 acres' and 'over 2 acres' when in actuality property was 1.2 acres. Strongly advise trusting any of advertised values.

On 10 April 2010, we purchased a home and land at 4448 Indian River Road in Virginia Beach, VA 23456. This property was advertised, auctioned and sold at 2.78 acres in size by Stephen Zedd Auctioneer. A subsequent survey and appraisal showed the size of the property as 1.2 acres. Because the home and property is of considerable less value due to the being less than 1/2 the size as represented by Mr. Zedd, we have suffered financial loss as result. We paid Mr. Zedd a buyer's premium of $21, 500.00 the day of the auction, before we knew the property was not as advertised. The difference in value between the appraised value and purchase price is approximately $40, 000.00.