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Playing Dumb Shouldn't Be A Strategy When Selling Your Home...

By
Real Estate Agent with RE/MAX Compass 0524642

The other day I showed a home that looked as if it had been built on the San Andreas fault line. You don't have to be an engineer or seasoned industry professional to know when the slab of the home is cracked in 72 different places. The property had huge gaps around the windows and there were about dozen huge cracks throughout the interior of the home. The damage was incredibly obvious and very extensive. I think if I drop kicked the door going to the master I probably still wouldn't have been able to shut it correctly.

Inside the home there were two college degrees prominently displayed on the wall of the study. And neither of them were from fake colleges. Clearly the sellers were educated. Even still, any person with a nose on their face could have easily identified that something with the foundation was incredibly wrong.


So why am I venting?


Other than the obvious foundation issues, the home was gorgeous. It was in a pristine neighborhood and with a working foundation, it would be awesome.


While at the home I called the listing agent and asked what the sellers plan of action was for the slab. Her response was to simply play naive. She told me that her and her seller were not qualified to ascertain that their was a foundation issue and if "we thought there was a problem" to order inspections for further findings. It's as if she had said this a dozen times already.

Her answer was technically correct, but it wasn't a good one.  It basically says, "We're playing stupid and the seller is hell bent on not spending money."


I would never list a home with slab in this condition. If I did, there's no question I would demand that the seller look into a professional quote and overall determination. No buyer pay to fix a slab/foundation. It is just about always a seller expense. The seller should obtain a quote and put a plan "into action" when listing their home. If you're sitting on the couch and all the contents of your home are leaning to the left by 20 degrees, odds are something is very, very wrong. You should NEVER assume a buyer will split the cost of the cost of foundation work, especially when your home is listed for "fair" mkt value. Don't waste agents and buyers time by playing dumb. Nobody will "get under contract" to point out the very obvious.

Get it done right the first time.

Posted by
Greg Nino
Realtor
RE/MAX Compass 
Direct & Text 7 days a wk: 832-298-8555 
 
 
Realtor since 2004
Mediator & Arbitrator for the TX Assoc. of Realtors
Member of the Professional Standards Committee for the TX Assoc. of Realtors
Arbitrator for the Comptroller's office for the State of TX for Arbitration of Property Tax Values

 Member of the RE/MAX Hall of Fame & Platinum Club

 

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

Comments(8)

Michele Connors
The Overton Group, LLC Pitt & Carteret County - Greenville, NC
Your Eastern North Carolina Realtor

Hey there Greg, Material Fact comes to mind..??  If you do inspections the seller knows your findings will be evidence of MF and why beat around the bush..the list agent is either stupid or enjoys working for free and putting license on the line.  If a seller is being difficult, I decline the listing. 

Jul 29, 2015 06:28 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Greg - I have found lately that many sellers (or listing agents) are taking that approach. They are requiring the buyer to pay for and conduct any inspections for things they may consider needing repair. Then, if something needs to be fixed or repaired, the seller may pay for that.

Jul 29, 2015 07:21 AM
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I'd say playing dumb will cost them offers.  Why take on the expense for the inspections and miss other opportunities negotiating this "known defect" when the seller, who is aware can get a quote or two to at least provide an idea of what the buyer may be looking at.   

Your call should have been answered, "yes, we have that disclosed and have one bid in hand and another coming up tomorrow.  Would you like me to keep you informed of that they come in at?"  

This doesn't obligate the seller should an over anxious buyer just want the house but keeps others interested.  

Jul 29, 2015 07:49 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

We rarely have foundation issues here.  I can think of once in my 23 years.  But I totally agree with the principle.  We just had a case where a seller and their agent knew of a serious issue and didn't disclose.  It's one of those things that is legally okay because it was a "recorded" easement.  But the fact remains it is NOT the right thing to do because our buyers would have NEVER offered had they known.

Jul 29, 2015 08:31 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Greg, have a home under contract with my buyer right now with the same situation.  The LA said they had no idea, and had no reports.  The buyer ordered the structural report.    I would think it would be wise for the seller to have these reports done upfront! 

Jul 29, 2015 08:36 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Homes are sold "As Is" all the time.  If the seller has it priced to sell, it may be that they can only get a cash buyer since a lender might not to loan on the conditional issues.  YIKES!  The listing agent and the sellers have a duty to disclose known material defects.  How do you prove knowledge, despite the degrees on the wall?  If there's nothing in writing from a licensed contractor, while she may be an idiot, she's still correct in saying "I don't know."  The fine lines aren't just in the foundation . . . 

Jul 29, 2015 08:38 AM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

I've seen one where the seller had gotten an estimate for the foundation repair, but they still wanted to sell it with a bad foundation.  Finally, a buyer took the bait and bought without getting their own estimate.  That $17,000 estimate turned into a $23,000 bill.  

Jul 29, 2015 11:26 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Greg, It's a pet peeve of mine, when something is obvious to us after we've gotten to the home and you've TOTALLY wasted our time because it wasn't disclosed.  Oh, you mean THAT basement was flooded???  Yeah, the one with water marks and dried grass stuck to the wall four feet up the basement wall, THAT basement.

Jul 30, 2015 05:39 AM