It isn't uncommon to hear comments that some people think selling real estate is an "easy" job and don't see the value in using a buyer's representative when purchasing a home. Even though the commission for a buyer's agent is paid by the seller and is free to the buyer, many people still choose to go forward with buying a home without any representation. But, my last closing is a great example of how important our skills at contract writing are, and how valuable my services are as a buyers representative are to my clients.
During the home inspection it was determined that the roof of
the home my clients wished to purchase had extensive damage and needed to be replaced. The listing agent was notified of the problem and we were willing to walk away from the deal unless the roof was replaced. After giving the seller time to contact his insurance agent and meet with an adjuster we were notified by the listing agent that the insurance company had agreed to replace the roof with a new 30 year shingle due to storm damage. My clients and I were extremely happy. This turned out to be a win-win for both sides. My clients would get to purchase the home they loved with a new roof in place, and the seller would only be out minimal expense for his deductible to have a major repair completed. I drafted the repair contingency removal document which stated the seller was to have the roof replaced with a new 30 year composition shingle.
When we went back to the home to inspect the work that had been done it was discovered that a 20 year roof had been installed and not a 30 year. When we questioned why a 20 year shingle was installed we were told that it was in fact a 30 year shingle and the 20 year shingles were only used around a ridge cap. We doubted that this was correct since a 30 year shingle in an architectural shingle and the roof installed was a 3 tab roof. We were told later that day that it was a 25 year shingle and the seller did this because it matched the brick better. The story continued to change several times over the course of the next few days and the more it changed the more concerned we became. To make matters worse, we discovered that not only was a 20 year roof installed, but the old roof was left in place and a roof-over had been done instead of taking the old roof off which was paid for by the insurance company. In case you don't know, roof-overs add extra weight to the roof which can lead to problems, shortens the life expectancy of the roof, usually voids the warranty, and more importantly only covers up any problems with the old roof and does not fix them.
The seller and his agent started out with the position that the roof was already in place and nothing could be done to change it and we would just have to accept it. It was a stressful few days, and multiple phone calls between various parties getting second opinions, additional estimates, and even legal advise took place. I was able to handle most of the stress and negotiations without dragging my buyers into every phone call, meeting and email than transpired. To make a long dramatic story short - we closed on time and the seller was made to pay the cost to have a new 30 year roof installed as well as the expense of having the 20 year double layer roof removed. What started out as a win-win for everyone turned out as a win for my clients but a big time loss for the seller. This story would not have turned out well for the buyers if they hadn't used the services of a buyers agent who was protecting their best interests and making sure that the repair agreement was written in a binding contract.
If you are searching for a new home, remember, the services of a buyers agent are free but can also be priceless to the buyer! I woud love to represent you as your buyer's agent in the purchase of your new home. You can search the entire MLS for Murfreesboro TN homes, and homes all across the Middle Tennessee area with my free home search tool. Please visit my website, SherriWellborn.com for helpful tips and information!
Comments(2)