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... It was just a waste of my and my agents time, and evidently a lot of others...
OP, I'm going to go against the grain of many of our RE friends here and ask this question of you:
Did your agent discuss this listing with you prior to visiting this property? It seems, from your comments, that he/she did not.
While most folks outside the RE industry do not know what Homepath means, your agent surely should and should have discussed with you the possible state of this property prior to your visit there.
If you were not in the market for a foreclosed home, you're agent should have warned you about this property. You should not be expected to interpret photos and MLS information on your own. That is why you have retained an agent -- to help you navigate these somewhat murky waters.
Strike one on your agent.
Last edited by TexasDillo; 02-09-2015 at 01:12 PM..
Love the comment in the advertisement about great natural light. It probably had holes in the roof and ceiling. I am not normally a complainer but the brokerage needs to know that potential clients do not appreciate the deception and waste of time.
I would agree that Homepath is always a clue that you should expect more than the usual problems. But that write-up was egregious in its misrepresentation. The price they're asking also seem sketchy unless it's a neighborhood where the lot is worth $100,000. I agree with luv that a complaint call to the brokerage is justified. They need to know that level of fibbing isn't acceptable to buyers.
If you decide you want to buy the house THEY MUST GIVE YOU A DISCLOSURE form of the good the bad and the ugly, of the house EVERYTHING...make sure you get a signature......on this disclosure form.
Suppose MASS does not require this(which they probably do) YOU can stipulate anything you want in a contract.
IE: "I want the whole history of the house from scratch"......the worst they can say is NO.....and you walk. Or because they are dying foe you to buy the house, they will scramble to get you a history of the house. YOU CAN ASK. YOU are the buyer you set the standards and terms. YOU set the tone of the transaction. NOT the seller. It is YOUR money you are going to pay for the next 30+ years. Set the terms of what you want, what you don't want.
I don't do HOA. But I liked the house I was looking at. So I asked for an itemized breakdown of what I get for the HOA and how many times have they raised the rates. I get a humma, humma and evasive answers. Bye. The house is not that big of a deal for me to compromise my wants, needs and desires. I am going to be paying the freight in the long haul. I count. Not them.
If you decide you want to buy the house THEY MUST GIVE YOU A DISCLOSURE form of the good the bad and the ugly, of the house EVERYTHING...make sure you get a signature......on this disclosure form.
Suppose MASS does not require this(which they probably do) YOU can stipulate anything you want in a contract.
IE: "I want the whole history of the house from scratch"......the worst they can say is NO.....and you walk. Or because they are dying foe you to buy the house, they will scramble to get you a history of the house. YOU CAN ASK. YOU are the buyer you set the standards and terms. YOU set the tone of the transaction. NOT the seller. It is YOUR money you are going to pay for the next 30+ years. Set the terms of what you want, what you don't want.
I don't do HOA. But I liked the house I was looking at. So I asked for an itemized breakdown of what I get for the HOA and how many times have they raised the rates. I get a humma, humma and evasive answers. Bye. The house is not that big of a deal for me to compromise my wants, needs and desires. I am going to be paying the freight in the long haul. I count. Not them.
I doubt the forms can be filled out properly if it's a foreclosure and the owners walked away from it. Only thing a potential buyer can do is get an in depth inspection and a walkthrough estimate with a licensed contractor.
If you decide you want to buy the house THEY MUST GIVE YOU A DISCLOSURE form of the good the bad and the ugly, of the house EVERYTHING...make sure you get a signature......on this disclosure form.
Highly unlikely. Many--probably most--states exempt foreclosed properties from disclosure requirements. If a lender never lived in the property, what do you think they'd be able to disclose anyway? Most have no knowledge of the house's condition.
If you decide you want to buy the house THEY MUST GIVE YOU A DISCLOSURE form of the good the bad and the ugly, of the house EVERYTHING...make sure you get a signature......on this disclosure form.
Suppose MASS does not require this(which they probably do) YOU can stipulate anything you want in a contract.
IE: "I want the whole history of the house from scratch"......the worst they can say is NO
Evidently you have never looked at a foreclosed home's disclosure form.......
Every line says:
"UNKNOWN. Seller is a bank and has never lived at the property."
Which is the truth. The bank has no history, nor record of anything the prior owner did while living there. Foreclosures are really only for people who can fix stuff themselves, or have the money to hire someone to fix stuff.
If you say I will walk if I dont get this info, the bank could care less. They will sell it to someone someday.
I have sold homepath properties that only needed a few cosmetics, so that does not necessarily mean it is a real fixer-upper. But I agree that you should have been informed that it was a foreclosure so you would know what to expect. The other thing you would need to be prepared for is the fact that the good foreclosure homes get multiple offers and often sell for above list price.
If you decide you want to buy the house THEY MUST GIVE YOU A DISCLOSURE form of the good the bad and the ugly, of the house EVERYTHING...make sure you get a signature......on this disclosure form.
Suppose MASS does not require this(which they probably do) YOU can stipulate anything you want in a contract.
IE: "I want the whole history of the house from scratch"......the worst they can say is NO.....and you walk. Or because they are dying foe you to buy the house, they will scramble to get you a history of the house. YOU CAN ASK. YOU are the buyer you set the standards and terms. YOU set the tone of the transaction. NOT the seller. It is YOUR money you are going to pay for the next 30+ years. Set the terms of what you want, what you don't want.
I don't do HOA. But I liked the house I was looking at. So I asked for an itemized breakdown of what I get for the HOA and how many times have they raised the rates. I get a humma, humma and evasive answers. Bye. The house is not that big of a deal for me to compromise my wants, needs and desires. I am going to be paying the freight in the long haul. I count. Not them.
HomePath has a separate addendum specifically telling you that they acquired the property and that there are many unknown. It's your responsibility to get the house inspected with qualified professional.
I knew someone who had some great listings but also did not mind at all having some dumps. Some thought his ads for those dumps were hilarious. Some thought they allowed for a good opportunity. They were honest.
They'd say things like "This place is a dump. I can't even buy it myself. If I were younger and stronger I could make it a dream house but it will take a lot of work" "Come and look at the holes in the walls. I think there was a fight and someone punched a wall" "this is one ugly place right now. When you drive up you'll want to leave. Don't. " and go on to explain just what the house needs.
The thing is the homes usually looked ugly but could be made up beautifully. They had things that could reasonably be repaired. When a house was truly worthy of being razed, he sold the land.
But he sold those homes quickly and was completely honest.
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