In real estate, the stakes are so very high. It is, as they say, the biggest investment of your life. And in some ways your new home will redefine your life. You choose a home hoping to make it your own! You plan to do what you want to do to it. You plan to live in it as you want to live.
The listing agent or seller wants to make a sale. So when he blabs on, it is easy to feel reassured. OF COURSE, you can keep a pony, run a daycare, park your work-truck in the driveway, take down that wall, rent out the in-law apartment, build a bedroom in the basement, etc, etc. You do not know if the seller or broker is careful or honest. In the end, the town fathers or the homeowner’s association might have very different ideas.
. All hands should be on deck, scurrying about verifying the needed information. If the answer to a question is central to your buying decision, then even a purchase contract may be written contingent upon the right answer being determined. By writing the issue into the offer, the buying process may be moved forward while the issues are clarified.
Your broker’s obligation, and your obligation – due diligence. The absence of diligence leaves you in a very precarious position. THAT you may safely assume.