Buying real estate is quite a venture. Depending on what side you are on, may depend if you are the one taken or the one doing the taking.
Most real estate transactions have both parties, the seller and the home buyer, being upfront and honest each in their own right.
The other “professionals” should also be upfront and honest in their dealings with their clients. That includes the Real estate agents and other service providers – like the lender, escrow officer, title officer, home inspector and the termite people.
Today, let’s speak about the “out of school” talk that can take place and why a home buyer should avoid it at all costs.
When buying real estate – there are items which your agent will have you find out for yourself. Of course your agent can make a call to the permit department to see if an item the real estate you are buying has been permitted.
The same applies to your agent speaking with the home seller or home seller’s agent about something that was discovered when doing the home inspection or at another time.
My question to you is how much do you trust your agent?
Of course, maybe not a lot or maybe too much. This explanation should clear the air.
In reference to questions pertaining to the “live-ability” of the home, all should be made in an official type manner.
If the “official way” is unable to be adhered to, then the buyer should at least make the calls themselves. Then following up that phone with an email recap to the person who told them such and such and so and so.
Some applications: (where buyers should do their diligence personally)
- verifying if the home being bought is in the “right” school district
- checking if the home has permits for various additions
- permits for other replaced items if necessary, i.e. water heater – a/c – heating replacement
- local law enforcement to check on the particular neighborhood – burglaries, motor vehicle break-ins, home invasions, robberies, street crime, crazy neighbors, etc.
- letting the neighbors know they are moving in personally and they sizing them up
Reference to questions for the home seller, like patches noted where repairs have been made. Conditions regarding why a part of the home is “like this” or “like that”. Those types of questions are best answered by having your real estate agent make a formal request in writing via the home seller’s agent. Then you have made the record.
Another reason is misinformation. Maybe the home seller’s agent had asked and the home seller misinformed their agent. This is their chance to come to and provide the truth.
It could also be that the seller’s agent is bending the truth a bit in their response. That changes things when the “written” explanation is different in a home buyer’s mind. That is why we want those types of inquiries by a home buyer to be official and in writing.
These inquiries should be done within contractual time frames and within the discovery period pertaining to the home. Making sure that the removal of contingencies has not been submitted, where the home buyer will forfeit their deposit if cancelling after getting a negative response to their “official” inquiry.
Real estate may not seem to make sense. It’s all about perspective. Most would trust what the home seller tells their real estate agent after the buyer’s agent asks the question. However, those “ex parte” communications cause more problems than they are worth.
Be safe – let us know when you are ready for our Professional real estate services for your Santa Clarita real estate needs. I’m Connor MacIvor with REMAX Gateway – Santa Clarita – Valencia. I’m Glad to be at your “real estate” service.