Owners are also not legally obligated to tell you everything about the home, including the possibility that somebody was murdered inside or what people are noticing as to why they won’t make an offer on it.
You could be left with a huge repair bill once you own it.
Realtors have legal obligations to not hide anything from you that you want to know about the home.
That’s nice.
In a FSBO it’s very common for a buyer to get inspections.
“Owners are also not legally obligated to tell you everything about the home, including the possibility that somebody was murdered inside or what people are noticing as to why they won’t make an offer on it.
You could be left with a huge repair bill once you own it.”
They ARE required on a Disclosure Document to indicate any of over a 100 particular, listed defects and “anything else that could materially affect the value” of the home.
And anyone who buys a home without a professional inspection is a fool.
I’ve had realtors be honest with me. And a couple who worked with the seller to HIDE information.
“Owners are also not legally obligated to tell you everything about the home, including the possibility that somebody was murdered inside or what people are noticing as to why they won’t make an offer on it.”
depends upon the state law regarding those issues and varies from state to state ...
“Realtors have legal obligations to not hide anything from you that you want to know about the home”
Around 2000 we decided to move and buy a preowned home in a nicer area.....the sellers realtor of one home we looked at disclosed that the previous occupant had committed suicide in the master bedroom.
So yeah, there’s a definite benefit for both buyer and seller to use a reputable realtor.......BTW, after that intersting experience and looking at over 30 preowned homes we decided to build. 😏
In WA state, whether thru agent or FSBO, you have to fill out a Form 23 on the house disclosing things.
Realtors have legal obligations to not hide anything from you that you want to know about the home. Realtors have a legal obligation to tell you what they know OR SHOULD HAVE KNOWN. Everybody hates real estate agents when you go to court. When I got my license they told me if you are sued and are going to court the only thing you really need to bring with you is your checkbook.
Oh. Ive bought and sold a number of homes and the realtors absolutely did not divulge everything. Why my husband and I sold the last 2 FSBO and did just fine. First person that came to look at the first home bought it. Second home was purchased as a rent to own with 2 years to do so and they bought after 18 months. We saved thousands.
Also, that’s what home inspectors are for.
“Owners are also not legally obligated to tell you everything about the home, including the possibility that somebody was murdered inside”
That’s true here in TN, but that was a line item on the official documents when we sold in CA. It depends on state laws.
The average realtor...those with less than 3 years of experience and work for a broker with less than effective supervisory skills...... are generally unaware of the legal obligations of disclosure.....like the house I went to where the septic system is partially submerged in a river even after an inspection 3 months prior. Or foundation damage that was identified and a bid sent to them 1 month prior to my inspection. Or knowing about termite-caused structural damage and transferring the listing to the agent that sits next to them at the office. The list goes on an on......
Which is why my offers were contingent on the home inspection and appraisal.
The previous home I bought the seller and I negotiated over the phone, agreed on a price and went forward. It was nice to deal with an honest man. Yes there were some issues but we both easily worked it out.
Which does not always stop them. They can look the other way and claim they were unaware of problems which are as plain as daylight. You had better know what you are doing when you buy a house under any circumstances.
Caveat Emptor.
That's a real knee slapper...
“Realtors have legal obligations to not hide anything from you that you want to know about the home.”
Unenforced obligations and lots of ways to play dumb.