We've Come a Long Way.....by Geraldine Santiago

By
Real Estate Agent with RE/MAX Crest Realty

We've come a long way.....but we still have work to do! by Geraldine Santiago

Published Author, Licensed Real Estate Agent

 

In 2005, the Real Estate errors and omissions insurance corporation sent out a newsletter siting 2005's Five Most Expensive Claims.  They were no final occupancy permit, no permit regarding townhouse renovation, no refund for life leases, easement was not disclosed and condition of the property was misrepresented.

Fast forward to 2010, the five top most expensive claims are non-disclosure (limited dual agent) failed to disclose and misrepresented the boundaries of a property, non-disclosure failed to disclose encrachments and misrepresented the size and boundaries of a property, negligent drafting (limited dual agent), non-disclosure (seller's agent) failed to disclose slope of instability and erosion problems and non-disclosure (limited dual agent) failed to disclose water ingress problems in a leaky condo.  

For buyers and sellers alike, obtain third party advice as soon as possible!  Retain the services of a lawyer, obtain your own agent to represent your best interests, and obtain title insurance.  The cost for title insurance is minimal which can provide the buyer with peace of mind!

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Tags:
weve come a long way since 2005

Spam prevention
Show All Comments
Anonymous
pofbvnTYXyk

JfoWvESUYOw

Apr 23, 2020 05:38 AM #25
Anonymous
esyjFYQvzALi

jCZAxVsJpUkXmKDH

Apr 23, 2020 05:38 AM #26
Anonymous
RNgkXYxrbcKtGfCi

FjaTqcDNt

May 09, 2020 07:04 PM #27
Anonymous
SdUtkIYQDxHBP

UgfHDJnX

May 09, 2020 07:04 PM #28
Anonymous
JMTFBOdqIepX

bOoalFjriH

May 15, 2020 05:17 PM #29
Anonymous
jxXENDlQvZqKMdL

hVtJDGCfB

May 15, 2020 05:17 PM #30
Anonymous
bnwYUZfyoxPCkjm

VmJqhBGafQMe

Jun 17, 2020 08:34 PM #31
Anonymous
gJLtrbjdT

xbdltDjisqfoY

Jun 17, 2020 08:34 PM #32
Anonymous
RlqhYSEpieVUFT

wQVIgLHXJTmM

Jun 23, 2020 07:34 AM #33
Anonymous
SxlQgcPs

WlyCSKPbYEjvtGie

Jun 23, 2020 07:34 AM #34
Anonymous
oPDAiZjbuXnhr

eClMRkGKwdHjq

Aug 15, 2020 05:46 PM #35
Anonymous
JzyVTljex

CjOuWPGqcotaLId

Aug 15, 2020 05:46 PM #36
Anonymous
zEQlBMnChGud

BYRiNvKrzcDLXp

Sep 02, 2020 05:04 PM #37
Anonymous
hsvIruoCDH

rDcGUAbCaudR

Sep 02, 2020 05:04 PM #38
Anonymous
CnBbTsLKqzXlOQ

PTVdJKEowFAr

Sep 05, 2020 04:15 AM #39
Anonymous
plcKRAGuBFNUji

TZUEqjofiXzms

Sep 05, 2020 04:15 AM #40
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
38,178

Geraldine Santiago

Geraldine Santiago
Ask me a question
*
*
*
*