Posted on 08/21/2024 3:12:08 PM PDT by where's_the_Outrage?
You’re touching on a real big reason to sell your home through a real estate brokerage. A huge amount of the legal liabilities associated with selling your home will be carried by the brokerage.
Buyers remorse is a real thing, and I’ll wager FSBO sellers are sued a lot more frequently.
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.
Your old saying is only believed by a fool. Read my other post. We had zero problems selling two ourselves.
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In some states you can disclose tainted or notorious property information IF the seller consents. Otherwise…not.
As a buyer agent representing buyers, I did ensure they knew the property history as I knew it. Just go talk to the neighbors, mostly.
For buyers from some cultures buying a house where a death occurred would just be absolutely a nonstarter,
“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.
I don’t understand how there can be four bedrooms in 1600 sq. ft.
https://moghullaw.com/blog/2020/07/buyer-beware-buying-real-estate-in-virginia/
It’s an apartment. From looking at it, the bedrooms take up about 550sqft and then you have the main room with the dining room and living room and kitchen as one main unit, for probably about 960sqft and the rest the bathrooms.
Unprofessional inspector.
A slacker.
Write that review.
“There is no penalty for a seller not disclosing defects. None.”
There is legal recourse. And if the agent was in cahoots, they could loose their license.
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......
I’ve done it both ways. Either way, buyer (or seller) beware.
Lol…my first house was a 30 ft x 30 ft box with a one-car garage in that footprint. It had three bedrooms, a tiny bath, a tiny kitchen. A dining area next to the living room and the living room.
After five years, we moved up to 1,600 sq ft with four bedrooms.
Californians are used to small unless you strike it rich. And there are plenty of rich here in Silicon Valley. We see lots of couples in their early 30s with a couple of toddlers buying $4 million homes…and tearing them down!
I have sold three houses “FSBO.” A piece of cake.
I have bought and sold many homes. All but one was without a realtor.
Tautologically, if the neighbor didn't price his house to sell, he didn't really want to sell it. When he wants to sell it, he will.
For buyers or sellers, there are costs and risks involved with using an agent, different ones with doing it yourself.
“And if the agent was in cahoots, they could loose their license.”
Name one. Never happens.
The excuse is, “Finding defects is what an inspection is for”, even though inspectors usually report nothing of significance.
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