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down. There isn't a chance in heck I'm going to represent anybody on this property. None. I mentioned to the clients over and over that the home most likely has roof issues, mold issues, sinking floors and the list could go on and on. The folks kept talking about how it could be fixed and that was just crazy talk. It would be cheaper to tear it down and start all over and then they'd at least know it was a good solid home.
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75 Comments on Sorry I can't represent you on 'that' property
Thank goodness you were honest with them and gave full disclosure about the potential or lack thereof for this home.
Nan I'm known for telling like it is......it is the best way to operate in my opinion. I can't imagine pretending that piece of junk had value other than the land. OMG the cost to 'fix' this home would far exceed any potential gain and you'd end up with an old crappy home with mold and who knows what other issues that are underneath the mess. As I've said - not a chance in heck.
What was motivating them? The price?? Sometimes people get so fixated and there's no way that you can reason with them. You have BananaTude for a reason Anna B!! And if a savvy real estate professional, such as yourself, can see no redeeming qualiites or beneftis to a property, why aren't they listening?!?
Glad you got out of there alive. Sounds like it's totally not worth it, glad you stuck to your guns!
I've got to give you the 'Tude award Anna just for knowing when to walk (run) away.
Anna, I had just this situation recently. A home that had suffered burst pipes and a leaking roof x 3 years. There was "mold-like substance" growing on the walls, floors, ceilings. And yet the buyer was in love and insisted everything could be fixed. I will not participate in a health hazard.
Carla they are now and have moved on to other possibilities. They liked the price - but we all know the price they'd really pay would be far higher than they could possible imagine.
Shane - no kidding - I had bug bites to boot! I am still alive this afternoon. Life is good!!
Charita - that's funny. It's exactly what I told them Run don't walk away.
Kathryn - most likely buyers who have no earthly idea of what it all means. After an inspection and some hard factc on costs to repair they'd get the light.
Anna, I know what you mean. I recently was asked to list a house and there are Major foundation issues. I'm gonna pass.
Eric - it can be a can of worms if it's not disclosed properly.
I've turned down a few that I didn't feel were safe....
Anna, that sounds like a conversation I had with a lender in the Spring. They asked that I sell an REO for them, and when I saw it I said no. They begged, and I said I would if they gave me 100% of their REOs from now on. They said, "Yes," and the house sold in 20 mintues for full price. Go figure. I requested that my assistants wear resperators whenever they were in that property. Nasty, nasty.
Anna - I haven't run into many of those homes, thankfully, though I've seen few and feel crawly just thinking of them.
Anna in Phoenix: Congrats on your Featured Post. The post is making me itch thinking of some of the homes I have been through. Hope your buyers take your advice and MOVE on to the next property!
Different strokes for different folks. I actually have clients that would like to know about this kind of dump. Even if it is a tear down if it can be bought right we have a deal. Some of my smaller builders love these lots because if you tear them down to a certain point and rebuild up from there you can avoid $27,000 or more worth of fees versus building on a vacant lot. It might apply in your area.
Ms. Anna Banana, what is the buyers level of expertise. First-time buyer versus experienced contractor? If your disclosure says: "This home may make you sick and may even kill you" and "The agent has recommended against buying this house" and if you still feel that doesn't protect you, then you're doing the right thing. Some first-time home buyers underestimate the amount of repairs needed and your expertise is vital.
I had some first time buyers who wanted to buy a dump. Fortunately, I was able to find them a much nicer home for their budget. The nice home was smaller and on a busier street, but they saw the value of that home over the one they were originally looking at.
Judi sometimes we need to do what we need to do.
Mike to each their own. My guess is you priced it right.
Christine this one was the worst ever.
Brian yes our investors may like this type of situation. But not over priced as this one is.
Michelle - they did.
Lloyd - I've got it covered. They don't know much of anything - yet.
Lynn - compromise for 1st timers can make more sense in the long run. Good for you for finding a good home for your buyers.
I had a customer put in an offer on a home like this recently. I have to admit that it didn't occur to me to say NO, I won't represent you, though I did make it clear that they needed to have some serious inspections and that the only value of the home was probably in the land. I will say that it was a sigh of relief when the offer was not accepted.
Anna, sometimes you can make money by losing a sale.
Anna...Glenn is so right. Other words would be that you save money by losing the sale..
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