Selling Poinciana One Property at a Time.: Give It To Broker Bryant. He'll Sell Anything!!!

Give It To Broker Bryant. He'll Sell Anything!!!

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....

 

florida short sale

 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?

 

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 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.

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Comment balloon 10 commentsBryant Tutas • November 09 2012 04:31AM

Comments

I agree disclosure and documentation are important. This post reminds me of some prescription medicines that have warnings about all bad things that can happen  to our health and to weigh the risks and benefits.

. We should have similar dislcosure to go with the property similar to one shown in the picture.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 6 years ago

I say.... you are right.. the beauty of our business is that we get to say no thank you if we want! I can see situations where I would be very, very concerned for my butt...

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 6 years ago

I agree, Disclose, Disclose, Disclose! I always advise our clients they need to disclose EVERYTHING.

Posted by Frank Laisch, "The Insurance Guy" over 6 years ago

Yes, disclose and document with pictures and notes and the market will dictate the subsequent price.

Posted by Liz Hill (YOUR CHOICE REALTY CORP BROKERAGE) over 6 years ago

I say, if you are up for it, go for it :)!  You are right though, that is definitley not for the faint of heart and the more disclosures the better...it's the people that would actually sue you (even though it's obvious that the home is in horrible shape) and take up your valuable time on worthless lawsuits just to do it that stops me.  

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) over 6 years ago

Everything is curable with the right price and the proper disclosures.  Have a great weekend!

 

Posted by Kathryn Maguire, Serving Chesapeake, Norfolk, VA Beach (GreatNorfolkHomes.com (757) 560-0881) over 6 years ago

Your right - disclose - but there are no shortage of buyers for these types of homes. Someone looking to renovate is delighted that the floor is already half demo'd. Regards Dave

Posted by David Grbich, Orange County Real Estate - 949-500-0484 (Realty One Group - www.FindCARealEstate.com) over 6 years ago

Hey BB thanks for the link love!  And you know it most sitations I agree with you. With proper disclosure it's all good.  But with my particular client I knew their budget and knew what would and world not work for the 1st time buyers.  Investors/flippers and others that know what they're doing and have a bank roll - it's up tot them to make their choices.

Have a great weekend and say hi to your lovely wife!

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) over 6 years ago

Sellers disclose, we disclose.  Buyers have inspections, buyers make decision with full knowledge.  I don't see my liability for a buyer's poor judgment. Even if I will not buy it, maybe they have a greater vision!

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) over 6 years ago

There's a buyer for every property.  Not all of them are mansions,

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 6 years ago

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