Q: My neighbor is selling her home through a local agent. The agent inspected the home and it was listed for approx $3500.00 above property appraiser value which was suspect at best. Thinking the seller just wanted a quick sale I brushed it off. The home had not been on the market more than 3 days when a couple made an offer. I am not certain if the offer had been accept prior to or in conjunction with the couple?s request that certain electrical work be done as part of the offer, which the seller agreed to and had done. Then 4 days before the closing the couple unbeknown to the seller had a septic company come to check the septic system which should have been cleared during the inspection. The next thing I hear from the seller is that she is having the drain field replaced because the couple and the realtor are telling her it needs replacing. I believe the sellers? agent is not representing her clients? best interest. I have been a neighbor for nearly 15 yrs and I am certain the drain field is fine but cannot convince the seller to get her own estimates. I feel the seller is being scammed and the agent is allowing it to go on. Between the cost of a new drain field and the electrical work already done the seller is way below property appraiser value. The seller is in her 70s and I am not sure if she?s just desperate to sell or may not realize what is happening. What if anything should I do as it upsets me to see that not even her agent is doing anything in the sellers? interest.
?Aseyecit, Debary, FL
A: Your first response was the best one! We should never take one Inspectors opinion when it comes to a huge repair cost like a septic system. Your Neighbor should have some one she has been dealing with for the years she has owned the home, that?s been maintaining the septic tank. She would be able to get information as to their records of any prior problems with this system as well as get a second or third opinion from other Inspectors. Most Legal Real Estate contracts cover this in a chapter (13,in ours) of the contract relating to sellers responsibility or agreement of repairs and usually it has a 1% cap meaning the seller is to provide repairs up to one percent of the sales price only, anything out side this CAP must be negotiated and is not a required repair. Since the seller is in a state of panic it would also help to call the listing company?s number off the sign and speak to the Principle Broker there. They are in charge of all the contracts that go through their office and if you have a complaint they would be the one to speak to and address any concerns. In this case it would also help you to know the final outcome and sales price as this could adversely affect your homes value as well should you decide to sell your home. I commend you for being such a great neighbor!
Brenda Tokarz is a Realtor? with Rose & Womble Realty in Virginia Beach, VA.
A: Dear FL neighbor,
I don?t like the sound of it. Does the seller have adult family living nearby who might take the situation in hand? If so, you might want to contact them. . It?s difficult if you do not have the confidence of the seller, and they will not take your advice in the matter. You might have your hands tied in this situation.
Dorene Slavitz is a Realtor? with The Real Estate Group in Culver City, CA and Torrance, CA.
A: Well it?s one thing to be a nosy neighbor and another to let professionals handle the situation. Whatever the buyer and seller agree to is what is going to happen. I can?t say for sure what is really going on, however I?m am a licensed Realtor in the State of Florida and their code of ethics and guidelines are very strict. You really don?t know if the drain field needs replacing or not until you get your own estimate. If seems that your neighbor has had a reputable company come in and assess the situation. At this point, I?d leave it to the experts and start to welcome your new neighbors! Good Luck!
Rosanne Nitti is a Realtor? with RMN Investments & Realty Services in Laguna Beach, CA.
A: Unfortunately, there probably isn?t much you can do directly as a concerned neighbor. Have you had a frank discussion with your neighbor? Does she have relatives who might be able to help? You might ask your neighbor to consult with a real estate attorney. If she is not being properly represented by the Realtor, the attorney can get it straightened out.
Phil Lunnon is a Realtor? with Lunnon Realty in Lakewood, CO.
Are you interested in having a qualified REALTOR answer your questions? Click through to Ask a REALTOR? now.
Are you a REALTOR who would like to answer consumer questions? Click through to become an Ask a REALTOR? participant.
Related posts:
- The Septic System Failed Inspection, Should We Still Buy This House?
- In A Multiple Offer Situation, Should All Parties Be Given A Chance To Raise Their Offer?
- If The Listing Agent Serves As A Buyer?s Agent Will That Realtor Be More Like To Push That Client?s Offer?
- What Is The Motivation For The 2 Requests By The Seller?s Agent Below?
- Can A Buyer?s Agent Submit Competing Offers?
karen handel hangout todd haley kareem abdul jabbar karl rove miramonte elementary school mark jenkins
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.