North shore Brokers (Andover, Boxford: real estate, broker, house)

[capenewfs]

This past weekend we went to the Boxford, Andover area with a dead line to find a home. Our home sold and we found some very nice homes in the 700K range. We went under agreement with a home that appeared to be in good condition and the broker representing the buyer used the word “new” to describe every detail of this home. We made a full price offer that was accepted because we thought the price that was being asked was worth it considering everything had been recently upgraded. She described new siding, new trim, new windows and new kitchen. During the inspection, I called an architect to ask about the type of siding that was used and he told me that the siding could be problematic if not installed properly. I proceeded to call the town inspector to see if permits were pulled and if the work had been inspected. As it turned out, none of the work had been inspected however the permits were pulled over 20 years ago. We tried to call our broker and her assistant who were in two different locations because we wanted to stop the inspection. No one answered their phones until the inspection was over. We are out over $700.00 and I am posting this to let other buyers know that generally the brokers in the north shore of Massachusetts are very good at telling you where a bathroom is, pretty good at steering you into good schools but they are not checking to be sure the sellers are being truthful when they "win" the listing so in Massachusetts, especially the north shore, “Buyer Beware”

[MikePRU]

I hope you don't mind if I ask you a few questions and make a few comments about what happened to you . . .

Originally Posted by capenewfs

the broker representing the buyer used the word “new” to describe every detail of this home.

Why would your agent know if something was new or not in this house? Was it their house? Were they also the listing agent? Perhaps they were relying upon representations from the listing agent when they made those statements.

Originally Posted by capenewfs

During the inspection, I called an architect to ask about the type of siding that was used and he told me that the siding could be problematic if not installed properly.

It must have been cement fiber board. Some people refer to it as "Hardy" board which is a brand name kind of like how most people refer to facial tissue as Kleenex. If not installed correctly cement fiber board can be very problematic.

Originally Posted by capenewfs

As it turned out, none of the work had been inspected however the permits were pulled over 20 years ago.

I don't think that cement fiber board existed 20 years ago. Is it possible those permits were for a prior project and the installation of the new siding was done without permits?

Originally Posted by capenewfs

We tried to call our broker and her assistant who were in two different locations because we wanted to stop the inspection.

Why would you want to stop the inspection? Even if items that were supposed to be brand new were not brand spanking new, they must have been in like new condition if you believed that they were new.

Originally Posted by capenewfs

No one answered their phones until the inspection was over. We are out over $700.00

Once the inspection started, your inspector would have wanted to be paid. It's a shame that your agent didn't answer their phone so that they could answer your questions but I know I don't generally answer my phone during inspections because I want to pay attention to what's going on during the inspection.

I'm also curious why you weren't in attendance during the inspection.

Originally Posted by capenewfs

I am posting this to let other buyers know that generally the brokers in the north shore of Massachusetts are very good at telling you where a bathroom is, pretty good at steering you into good schools but they are not checking to be sure the sellers are being truthful when they "win" the listing so in Massachusetts, especially the north shore, “Buyer Beware”

So then this agent represented both you and the seller? That was your first and biggest mistake. Find your own agent to represent you as the buyer.

[gf2020]

It's hardly fair to characterize all of the Realtors of the North Shore as dishonest based on your experience with one.

[sal1181]

Did you mean the broker representing the seller said everything was new in the house? Also was your agent not with you during the home inspection or were you not there? I typically do not answer phone calls if I am at a home inspection with a buyer since I want to pay full attention to what is going on.

[Boston_Burbs]

Do you not have a buyers agent?

[NS-GR]

Originally Posted by MikePRU

So then this agent represented both you and the seller? That was your first and biggest mistake. Find your own agent to represent you as the buyer.

I hear all the time that it is a mistake to have the seller's agent represent the buyer. So, I would like to ask you whether you could elaborate on that a bit more.
We are debating a lot about whether we should ask an agent to help us with our house hunt, but I do not see why this is a good idea since:
A) A buyer's agent would make more money if the house is sold at a higher price anyway... So, why he/she does not have a conflict of interest?
B) There is more room for negotiations when one buys without an agent
C) It is much easier to understand what the seller is actually asking because the buyer is dealing directly with the seller's agent
D) With all the online real estate sites, it is very easy to perform market analyses, find what has been sold in the last months/years and basically decide what the offer should be
So, I wonder many times why a buyer should have their own agent...?

[capenewfs]

We pulled out, the broker said that all the work had just been done. The word "new" kept being repeated. After this experience, I think it really helps to do your own homework before jumping into negotiations. The seller as it turned out told the broker that everything was spanking new but the word is subjective. Next time we go out to try to find a house, I will ask the broker to have the seller complete the fact sheet with dates and ask the broker if permits were pulled and signed off on by the town inspector. I made the mistake of trusting everyone. Thanks for your responses, I know the northshore has great brokers. They are out there, we won't give up.

[gf2020]

Do you have a buyer's agent? If not, I can recommend a very good Realtor who is very familiar with Boxford and the surrounding towns.

[sal1181]

Reasons why you should have your own buyer's agent instead of using the seller's agent is because the seller's agent has to look out for the best interest of the seller not the buyer. Therefore they will not disclose anything a seller tells them . The seller's agent will not be able to advice you on an offer price because their job is to get the seller the highest price possible. Keep in mind that the seller's agent and the seller already agreed upon a commission percentage when they signed the listing agreement. All it means is that the seller's agent keeps all the commission and does not split it with anyone. When I was the buyer's agent on a recent home that had a major renovation done I was the one who went to town hall to see if the owner had pulled permits. I have met a lot of agents who don't represent both parties in the same transaction as it can become a liability and the agent can get sued. In some states it is illegal for the agent to represent both parties in the transaction. I personally will not represent both parties either. I would hate to think that anyone felt that I did not provide great service. It happens quiet frequently that the buyer uses the same agent as the seller and then has a bad experience and then decides to bash all Realtors as if we are all the same. Get your own buyer's agent it cost nothing

[sal1181]

Just an FYI it is not mandatory for a seller to fill out the seller's disclosure of the property. Some do fill it out and some don't