Hi folks. I recently read an article from Anna "Banana" Krutchen titled “Sorry I can’t Help You On That Property”. It’s basically about not representing a Buyer on a purchase due to the condition of the property and possible liability for the agent.
Here’s an excerpt:
I can imagine the potential lawsuits that could arise from this situation - even with full disclosure and an addendum stating that it is highly recommend they not purchase the home. No thanks. I can't in good conscience be a part of something that would not only be a money pit but could also have life threatening conditions such as mold and who knows what else. And then get sued - not on my watch. Read the article.
Well you need to work in my market!!! Here's my new listing....
CLICK THE PHOTO FOR ADDITIONAL PICS OF THIS BEAUTY!
Back in 2004 when we had the 3 hurricanes my market was devastated. I spent the next 18 months selling houses with no roof at all!! They were full of black mold and basically needed to be stripped down to the block and slab and rebuilt. I couldn’t list these properties fast enough they were selling so quickly!
I learned that anything will sell if the price is right. Investors love distressed properties. But they are certainly not for the faint of heart.
If folks want to buy them then I have zero issue selling them. In fact my guess is that my liability is far less on a property where the repair items are so evident. It's the hidden issues that will cause problems.
Can you just imagine a Buyer trying to sue me over the property I linked to? All I'd have to do is show the judge the pics and say "Seriously? The buyer didn't know it was in bad shape?"
I personally have a very high tolerance for risk. I’m a stickler for disclosure and documenting all aspects of a transaction. My confidence is high that I could defend my actions if needed.
The beauty of our business is that we each can decide what transaction to do and which ones to walk from. My opinion is that as long as the Buyer has been well informed of the risks and they decide to move forward then I am happy to help them. With full disclosure of course.
What say you?
Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.
Copyright © 2017 http://www.brokerbryant.com/ | All Rights Reserved