Special offer

Spank you very much...Hey I was covering your ass too!

By
Managing Real Estate Broker with Alpine Lakes Real Estate Inc., NHRE# 02863

Ever been accused of being the master of the obvious? I wrote a purchase agreement, where I pointed out that my buyer will assume the upcoming special assessment of $10,000 for a new roof (in a condo development).

The seller's agent accused me of  "negative selling" to get a better price for my buyer...DAH! But no it's not that easy, sure I want the best deal for my buyer that is my job. I also don't want either side to feel as though we glossed over this expense. AND>>> it wasn't disclosed in the seller disclosure. Why you may ask? Because the "required property disclosure" given to the buyer is 20 months old. July of 2009, was the signature date. I think a $10,000 special assessment should be acknowledged somewhere...and I think I just covered your ass too -Mr. Seller's agent (oh and BTW -we are required to update the disclosure so it's never more than one year old).

If your seller thinks we're beating him up, Have him pay for the new roof...and find someone else to buy the place after he doles out 10K. There are plenty of fish in the sea...and not all of them need dental work.

    Need all of the pieces to your buying puzzle...you've come to the right place.

Use the MLS search button at the bottom of this post to view all area properties - no matter who has it listed and then hire the right agent to advise you on purchasing.

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                                                                                                                                                                              Your-White Mountain New Hampshire real Estate Expert

                    steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898

                        MLS search and Realtor web site: www.alpinelakes.com

                         My outside Blog: www.steveswhitemountainblog.com

                    Lincoln NH &  Local interest site: www.localism.com/nh/lincoln

    Grafton County NH MLS search

Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Kristi, I disclosed it to the buyer, and the seller's agent knew all about it. The issue was it wasn't disclosed in writing and I know from past experiences these things can come back to haunt you if it's not written somewhere - that both parties sign (acknowledged in writing). CYA!!

Feb 19, 2011 04:45 AM
Sheila Newton Team Anderson & Greenville SC
Berkshire Hathaway HomeServices - C. Dan Joyner - Anderson, SC
Selling the Upstate since 1989

I am continually amazed at sellers and agents and what they are willing to "hide".. You certainly did the right thing.. and I agree, you covered the seller and his agents ass!!

Feb 19, 2011 04:52 AM
Brian Rugg
Rugg Realty LLC Sun City Texas 512-818-6700 - Georgetown, TX
Sun City TX Real Estate - Georgetown, TX Real Est

Hello Steve:

This sounds like a "badge of honor" story.  Sellers complaining that you were looking out for your client ought to be the headline of your next marketing campaign.

Feb 19, 2011 04:53 AM
Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

Okay, how do they think they are getting away with a July 2009 disclosure. Thats ridiculous. I really like the puzzle marketing idea Steve, nice work

Feb 19, 2011 04:55 AM
Kaera Mims
Liz Moore & Associates - Fort Monroe, VA
Associate Broker, e-PRO, REALTOR; Hampton, Newport News, York Co.

I am surprised it was okay to move forward with an outdated disclosure. What if there were other "issues" that were not put in writing? 

Feb 19, 2011 05:02 AM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Brian, It really is kind of funny, I thought about posting this as a members only post but then I decided this is the type of thing we "protect our clients" from all the time. And buyers and sellers reading this may take away a new perspective from the blog.

Feb 19, 2011 05:03 AM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Gerry, Let me tell you when it comes to condos there are plenty of fish in the sea and as I said they don't all need dental work.

This one needs a little cosmetic work.

Feb 19, 2011 05:06 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Steve...I know this is one area agents don't upgrade.  Many times I ask for an updated form.

Feb 19, 2011 05:11 AM
Cynthia Larsen
Cotati, CA
Independent Broker In Sonoma County, CA

There are plenty of fish in the sea...and not all of them need dental work. LOL at that one! Shame on that agent for not disclosing the assessment ... is he trying to get sued?

Feb 19, 2011 07:56 AM
Laraine Shape
Comey & Shepherd Realtors - Glendale, OH
Selling Cincinnati...one kitchen at a time

You wrote a purchase contract?  Cool!  As for the stale disclosure...makes you wonder if the property was listed previously by a different agent and the douche bag agent you're dealing with now just lifted it off the MLS.  Not that that would ever happen, of course.  I'm just sayin'

Feb 19, 2011 08:05 AM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Cynthia, this is the theme of the post...why would you risk your living on one deal?

Feb 19, 2011 08:17 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

Love the title!  Love the puzzle picture and clever marketing phrase!

Feb 19, 2011 01:12 PM
Elyse Berman, PA
LoKation Real Estate - Boca Raton, FL
Boca Raton FL (561) 716-7824

Steve,  I think the seller's agent ought to thank you.  In Florida if there is a pending assesement, it has to be disclosed either in writing or verbally.  Normally, if it's in place by the effective date, the seller has to pay. 

Feb 19, 2011 01:28 PM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Sharon, thanks I did the photo with a program called bighugelab.com ...I'll use that phrase again!!

Feb 19, 2011 01:30 PM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Elyse, We would normally have the seller pay the assessment if it was voted in, and ratified as a homeowners requirement...once approved by the board the current owner would be on the hook.

Feb 19, 2011 01:34 PM
Nick T Pappas
Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Steve, first of all that's a terrific piece of marketing "the puzzle".  Just one thought...whatever is wrong with that other agent is no little thing!

Feb 19, 2011 03:31 PM
Ted Tyrrell
RE/MAXCamosun (Chatterton) - Victoria, BC
Selling Homes in Beautiful Victoria

Hey Steve, love your jigsaw puzzle photo. How can someone have a disclosure be 20 months old?

Feb 19, 2011 05:24 PM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Nick. It is hard to call someone out "too" publicly if you have to work together on this and other deals...and still make your point. thanks I hear you!

Feb 19, 2011 11:51 PM
Scott Warga
ACSI American Construction Specialists & Investigations - Gilbert, AZ

Steve, I hear about agents pulling that type of stuff all the time. You did it right.

 

Thanks for the tip on the bighugelab.com. Great site.

Feb 20, 2011 08:34 AM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Scott, yes that is a cool photo editing site I love to play with my favorite pictures.

Feb 20, 2011 09:04 AM