I’m enjoying reading the entries to the contest Debbie Reynolds is offering this month! I’m sure we all have learned a lesson or two in our careers and can pick one to share with the Active Rain community.
In our industry we like to think others are trust worthy but as we all learn sadly that isn’t always the case. Many agents promise things verbally and in writing that simply is falsehoods.
I’ve always subscribed to one of Albert Einstein’s quotes “Know where to find the information and how to use it..that’s the secret to success!” If you have a question than research it until you feel you have obtained enough data to formulate a plausible answer to a question. Make sure you are addressing the right authority for the information needed.
In my first year of selling real estate I was helping a buyer purchase a home in a gated community in a large neighborhood. The MLS (filled out by the listing agent) stated all the amenities the buyer could enjoy living there..community pool, tennis courts, parks, hike and bike trails. My buyer was thrilled! When reviewing the seller’s disclosure I notice the annual fee was lower for this property. Other homes in the community were paying a higher price for the same amenities so I called the listing agent. I was concerned, he told me this community paid lower dues but still enjoyed the amenities.
Something smelled fishy to me! I called the HOA and they were sending out the information for my buyer per the contract but told me this small part for the community had lower dues because they did not have access to the facilities! My buyer made the offer because of the services offered! What to do?
I turned to a seasoned agent in my office for guidance. Thankfully we have an addendum for everything and one includes the ability to review the Resale certificate and information on the community and if the buyer doesn’t approve they can back out within 7 days and get their earnest money back! I used that addendum when writing the offer. I immediately explained to my buyer, she could get out of the contract. She appreciated the fact I had done my due diligence and made the decision to move forward after all. I learned from Ronald Reagan’s quote “Trust but Verify” always!!
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