Tuesday, November 28, 2006

Seller's Disclosures: EXAMPLE of the Importance

Importance, again, of Seller's Disclosures
Last week I wrote about the importance of Seller's Disclosures.
This past weekend I had a prime example. I was showing Mr. And Mrs. Buyer a really nice patio/villa home with a lake view in the 340K range. There were no seller's disclosures in the home which I knew since this was our second showing. I called the listing agent for it at 9 AM and she faxed it to me after noon. When we received the seller's disclosure each page had been X'ed through and not completed. In addition there was an engineer report because there had been heaving in the basement floor, repairs made by the owner, and of course no warranty on them. These two documents managed to totally turn my buyers against the property even though they were ready to make an offer. Not to mention the agent calling me and telling me that she just got word that another agent was sending her an offer. I can't stress the importance of Seller's Disclosures! Granted the current owner (the builders of the community) bought the property back from the owner and did the repairs on the basement.... And still didn't update the Seller's Disclosure after doing the repairs. It literally killed the deal!
This showing was Sunday. Today (Tuesday) the listing agent calls me and says, "what happened to you, you fell off the face of the earth".... She continued with, "well we're hammering out the details of this offer I got from the other agent and........" I just told her that my clients were no longer interested and why they weren't. I said it in a really nice way...... but as we hung up I had to wonder..... was she shopping offers?
Here's a taste of a home for sale in Kansas City Mo area. And it has a Seller's Disclosure.
© Fran White, REALTOR 2006

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