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As much as I love semantic discussions, I will simply suggest that you look more closely into what defines an oxymoron and leave it at that (hint: it is not limited to adjective-noun combos, though it would apply equally well to "ethical real estate agent").
Actually my Father, a lawyer, had a favorite joke - Lawyer name of John Strange had his tombstone completed. Epitaph was "Here Lies an Honest Lawyer". People walking past would see it and observe "That's strange".
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So now the argument changes from "generally no one checks the location of homes" to "ok, they check them on the map, but they don't understand what the map is telling them." And throw in the new variable that the buyer is now from out of town. How about they are also illiterate and can't read the street names? Maybe they are relocating from an indigenous tribe in the Amazon rainforest and don't realize the noise that can be associated with roads? I'm sure your argument will be convincing after a few more variables are added.
Now you are getting carried away. The majority of people do not check maps. Of the minority who do few can deal with other than major highways and fewer yet would understand street traffic loadings or future changes to be make in the street configuration.
Sorry but the vast majority of my clients are from out of town. That should not surprise even a Texas lawyer when you consdier I heavily work retirees in Las Vegas. Then again Texas lawyers are easily surprised aren't they?
4. PLEASE, if you are TAKING CLIENTS to see homes that have HOAs....bring them with you!Its important that if your clients put it on their short list that they know what the rules and regulations are. ( We asked for them NUMEROUS times and our agent kept saying, "Oh this neighborhood doesn't have any. We knew it did!) After, signing the initial offer, we got a copy AFTER we had asked over and over for them!
LOL.
Raising, you have some great advice!!! I tried to rep you but I gotta spread some love first, LOL!!
Just thought I would chime in that it (at least in our area) it can be tough to get the HOA rules BEFORE an offer is put in (but you do get three days to review once you get them and can cancel the deal due to them). The seller has to pay for them, and if they do it to early... well rules and budgets, etc.... could change and you would need to keep purchasing new sets of papers to share.
does that make sense?
and you are correct, your agent should NOT have told you stories.... they should have explained it to you like I did.
Raising, you have some great advice!!! I tried to rep you but I gotta spread some love first, LOL!!
Just thought I would chime in that it (at least in our area) it can be tough to get the HOA rules BEFORE an offer is put in (but you do get three days to review once you get them and can cancel the deal due to them). The seller has to pay for them, and if they do it to early... well rules and budgets, etc.... could change and you would need to keep purchasing new sets of papers to share.
does that make sense?
and you are correct, your agent should NOT have told you stories.... they should have explained it to you like I did.
Shelly
Same is true in Las Vegas. A set of HOA docs can cost up to $300. and practically have to be current due to the way the state law reads. In fact they are sufficiently valuable that the standard contract requires they be returned if the deal is not completed.
So generally no HOA docs until you are in escrow. Then you can call off the deal if you don't like them.
Shelly and Olecapt-Thank you for the insight. Maybe, it depends on where you are. I know that when we sold in SC, we gave our Realtor the regulations to put in with our disclosures. I realize that the buyers would get their own pulled when they have to do the research through a title company or attorney,but at least it was something to start with.
In Ohio, soon as the offer was on the table, our agent gave us the sellers copy of the HOA regulations and restrictions. I realize, we got the same thing during the title search and all THAT paper work.
Thanks for educating us!
Just curious, couldn't a real estate agent explain that the set that they have might not be current? Most of the time, HOA aren't going to change that much over a short period of time. ( Like 120 days in the average market here.) Maybe, they do...
Are you saying to Ole that if requested that they would be $300 for agents?
if my seller has their's, I will request that we have them to share, if requested, by a potential purchaser. BUT usually they have no idea where they are (really). and yes, a set of HOA docs can get very expensive, up to $450 here for a set, and then if you live in a neighborhood within a neighborhood with different rules, take on another $50. I usually pay for these up front, and then get reimbursed for them at closing from the seller. so it is the seller who pays for them. and most sellers do not want to pay for them more than once.
Shelly and Olecapt-Thank you for the insight. Maybe, it depends on where you are. I know that when we sold in SC, we gave our Realtor the regulations to put in with our disclosures. I realize that the buyers would get their own pulled when they have to do the research through a title company or attorney,but at least it was something to start with.
In Ohio, soon as the offer was on the table, our agent gave us the sellers copy of the HOA regulations and restrictions. I realize, we got the same thing during the title search and all THAT paper work.
Thanks for educating us!
Just curious, couldn't a real estate agent explain that the set that they have might not be current? Most of the time, HOA aren't going to change that much over a short period of time. ( Like 120 days in the average market here.) Maybe, they do...
Are you saying to Ole that if requested that they would be $300 for agents?
HOA docs vary in their temporal instability. CC&Rs for instance never change or so rarely it is close to never. But rules and regulations may change even monthly. And some of the required things are reserve assessments and current balance sheets and minutes of the last BofD meetings. There are I think 9 documents in the required packages here though all are not used in all communities.
I always use a fresh set from the Association simply to avoid potential liability. An incorrect set of documents could provide someone with a reason to terminate the deal late in the process or even sue after closing. Why take a chance? I also get them to the buyer as soon as possible and always within 10 days.
I actually got blindsided in a complex deal early on in my career when it turned out the Asociation only allowed two dogs and the Lady had three chihuahuas. Stung...collapsed a three way deal with 25,000 in commissions. The shame of it was the Association would likely have been willing to change if asked early and politely.
Actually my Father, a lawyer, had a favorite joke - Lawyer name of John Strange had his tombstone completed. Epitaph was "Here Lies an Honest Lawyer". People walking past would see it and observe "That's strange".
Now now. No need to bring out your heavy guns just because you couldn't identify an oxymoron.
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Originally Posted by olecapt
The majority of people do not check maps.
Forgive me if I'm not convinced based on your naked statement.
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Originally Posted by olecapt
Sorry but the vast majority of my clients are from out of town. That should not surprise even a Texas lawyer when you consdier I heavily work retirees in Las Vegas. Then again Texas lawyers are easily surprised aren't they?
I suppose we may be easily surprised. But it's good to know that you aren't surprised by your clientele. For example, I have a feeling that you have an intimate knowledge of the egocentrism of Las Vegas retirees, particularly those interested in the real estate market. I'm sure that a large part of your day is spent dealing with the difficulties that accompany that characteristic. Unfortunately, the demographics of your clientele make your experience unsuited for extrapolation on this issue.
Now now. No need to bring out your heavy guns just because you couldn't identify an oxymoron.
Forgive me if I'm not convinced based on your naked statement.
I suppose we may be easily surprised. But it's good to know that you aren't surprised by your clientele. For example, I have a feeling that you have an intimate knowledge of the egocentrism of Las Vegas retirees, particularly those interested in the real estate market. I'm sure that a large part of your day is spent dealing with the difficulties that accompany that characteristic. Unfortunately, the demographics of your clientele make your experience unsuited for extrapolation on this issue.
I also do AF people and generally new arrivals to Las Vegas. Anyone in our market who specializes in move ups has long since left the business.
It is however a good point. Real Estate is local. My experience is probably quite accurate for fast growing places (or that used to be) Phoenix, parts of FL, the tri-cities in NC. Probably quite irrelevant in Detroit or Long Island.
As to your implied slur the retirees run about the same range as those less mature. Fewer flakes in the mix than the very young. But otherwise very similar.
As to your implied slur the retirees run about the same range as those less mature. Fewer flakes in the mix than the very young. But otherwise very similar.
It's very unlikely that retirees are, as a group, as computer literate as younger folk.
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