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C Y A for the agent. The listing was posted from information obtained by the seller. If the seller said the property had never flooded but the potential buyers questioned the neighbors and got a different position, the agent does not want to be held responsible. And therefore, the agent's company. This is a C Y A world.
But what if the information is presented in good faith, verified by best/accepted practices, etc? Square footage is one thing for a residential real estate listing, but think about a listing for acreage. 240 acres, of 163 of plantation pine, 40 acres of crop land, and 37 acres of hardwoods, with claims about the age structure of the trees, and the soil types of the land, and the perk test for a homesite...and property taxes that reflect 200 of that being enrolled in a property tax deferral program for forestry that the new owner may not qualify for.
In a society of often frivolous litigation, it would seem that its an added layer that states "caveat emptor" and perhaps a small barrier to those quick to lawyer up and blame others for their own shortsightedness.
Verified by best/accepted practices?
Good enough for just about all situations.
Issues I see seem to arise when verification is not performed using "best/accepted practices."
Of course, we can synthesize myriad potential situations where spurious lawsuits are contemplated.
The disclaimer... I will ask the same question I asked Brandon:
"Do you have legal counsel or case law citation confirming the adequacy of such a disclaimer?"
Some disclaimers are known to be insufficient but they're put in primarily to dissuade someone from filing a lawsuit. They're used not just for real estate but for innumerable situations (for volunteers, school field trips, etc., etc.).
Do you have legal counsel or case law citation confirming the adequacy of such a disclaimer?
I doubt it would cover me for ineptitude, or for negligence.
There was an attorney teaching real estate classes that recommended it. While it doesn't resolve the agent of responsibility, especially with intent, it could help in some situations.
Quote:
Originally Posted by MikeJaquish
Our Commission specifically states that an old appraisal is not acceptable for SF measurements.
Interesting. Ours does not have any such restrictions. Our MLS allows for a =/- 10% margin of error for SF. IMO, the appraisal measurements tend to be the most accurate source when available, along with original builder blueprints which we almost never have.
Quote:
Originally Posted by MikeJaquish
I almost never give lot dimensions, which are not mandatory, but I post plats or prior surveys without reservation. I have no fear of a lawsuit for posting a registered plat map or previous survey.
Our MLS does require acreage and lot dimensions, which I usually pull from the tax records.
I have no fear of a lawsuit over any the above info, but that doesn't mean someone can't try. Some folks will sue over next to nothing.
Verified by best/accepted practices?
Good enough for just about all situations.
Issues I see seem to arise when verification is not performed using "best/accepted practices."
Of course, we can synthesize myriad potential situations where spurious lawsuits are contemplated.
The disclaimer... I will ask the same question I asked Brandon:
"Do you have legal counsel or case law citation confirming the adequacy of such a disclaimer?"
A "beware of dog sign" unlikely to protect me much if my dog bites anyone or anything and is to blame. I'm not concerned about my dogs behavior either, they're mostly friendly beasts. The sign is there mostly to give would-be trespassers/thieves pause. But, when a cat was inside my 6 ft privacy fence and a neighbor got their dander up after my dog gave merry chase, I said, "hey, he was in his yard contained, your pet was at large. I also have a sign indicating his presence." The fact that a) my dog was in my yard and b) was contained by a fence were what would have stopped any action against us in their tracks.
Is my "Beware of Dog" sign silly? I don't think so. Hopefully it reminds someone "there's a dog here."
If someone falls and wrecks their back, the little yellow "caution, wet floors" you see in a supermarket are unlikely to help much.
But they both help prevent/avoid situations. Maybe they'll take an extra precaution so as not to get bit or fall.
So it is (in my mind) with that little note. I see it as especially true with a land sale, where the buyer is possibly more likely to come in unrepresented, or find the property before securing her own agent, etc...
A "beware of dog sign" unlikely to protect me much if my dog bites anyone or anything and is to blame. I'm not concerned about my dogs behavior either, they're mostly friendly beasts. The sign is there mostly to give would-be trespassers/thieves pause. But, when a cat was inside my 6 ft privacy fence and a neighbor got their dander up after my dog gave merry chase, I said, "hey, he was in his yard contained, your pet was at large. I also have a sign indicating his presence." The fact that a) my dog was in my yard and b) was contained by a fence were what would have stopped any action against us in their tracks.
Is my "Beware of Dog" sign silly? I don't think so. Hopefully it reminds someone "there's a dog here."
If someone falls and wrecks their back, the little yellow "caution, wet floors" you see in a supermarket are unlikely to help much.
But they both help prevent/avoid situations. Maybe they'll take an extra precaution so as not to get bit or fall.
So it is (in my mind) with that little note. I see it as especially true with a land sale, where the buyer is possibly more likely to come in unrepresented, or find the property before securing her own agent, etc...
You have taken precautions. Great.
The old, "WE DON'T KNOW IF WE ARE LYING OR INEPT OR BOTH, SO YOU NEED TO CONFIRM ALL THAT IS IMPORTANT TO YOU," is little protection for the failure of a listing firm to meet the bona fide expectations a licensee embraces.
Obviously, that is not true in all markets, as state and MLS rules vary. But, where I work, it is a brand of ineptitude.
The old, "WE DON'T KNOW IF WE ARE LYING OR INEPT OR BOTH, SO YOU NEED TO CONFIRM ALL THAT IS IMPORTANT TO YOU," is little protection for the failure of a listing firm to meet the bona fide expectations a licensee embraces.
Obviously, that is not true in all markets, as state and MLS rules vary. But, where I work, it is a brand of ineptitude.
Not sure why you're taking so much umbrage on this one. I'm putting in information that I believe to be correct and notifying the buyer that if it's important to them, verify the information is correct before closing on the property. That's not exclusive to real estate. As stated by a previous poster, many industries and businesses use similar approaches.
Not sure why you're taking so much umbrage on this one. I'm putting in information that I believe to be correct and notifying the buyer that if it's important to them, verify the information is correct before closing on the property. That's not exclusive to real estate. As stated by a previous poster, many industries and businesses use similar approaches.
"Umbrage" is a bit of overkill for what I am thinking. But, if it wasn't important, it would be "funny."
Maybe your MLS membership is more skilled or more honest than mine. I hope so.
I do recognize that your local rules and regs are different, as evidenced in many posts and threads here.
I don't care what other industries do. I am licensed to practice in one industry, and I wish there were higher standards in it.
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