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CONSULTATION INFORMATION |
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So, who needs help from a professional?
Since you haven't yet read my book (yet) there is no way you can comprehend the wealth of information available to you. Sell It By Owner and Save is the ultimate resource guide, answering hundreds of questions, many of which you've probably asked yourself. It is, in and by itself, a consulting book laced with sarcasm and humor. Here is one example what a consultant can do for you. My neighbor stopped me the other day and asked if the couple who previewed my two spec homes had purchased one of them. This same couple had seen their home on three separate occasions. I proceeded to ask her about their pending deal and wondered why their real estate agent did not place a SOLD sign on their property yet chose to continue marketing and to show their home. She claimed that the buyer who had acknowledged the Sellers Disclosure statement was voluntarily backing out of the transaction because of some snafu, or oversight on the Disclosure statement. I questioned her further to better learn about the snafu. It appears that their buyer signed the Disclosure Statement without reading it and it was my guess that the buyer's agent probably shoved the paper under their nose and said sign here. Since there was water in the basement at one time the buyer claims they weren't told, although the Disclosure Statement was clear concerning this issue. Furthermore, to compound problems, it appears that the Sales Contract indicates that the buyer has placed a deposit of $3,000 in the broker's trust account. Because the buyer has voluntarily decided to back out of the transaction the seller's asked their agent for the buyer's deposit as liquidated damages. According to the wording in the Sales Contract they have the right to keep those monies. Upon contacting their agent the seller quickly discovered that the buyer did in fact place money in trust with the broker but the amount was $500, not $3,000. Although the agent may clearly be at fault for not amending the Sales Contract to reflect the actual deposit given the seller, in order to recoup lost market time, may be forced to file suit against their agent and the buyer. This, of course, will cost the seller thousands of dollars in legal fees and perhaps time off the market since they may not be able to legally sell their home to a subsequent buyer until the first transaction is officially declared null and void. My advice to them was three-fold. Contact an attorney and go after the broker/agent for the $2,500 deposit that is not in the trust account as so indicated in the Sales Contract; take the home off the market and obtain a release from the broker (in other words fire the idiot who listed it); re-market the home at a higher price with a different company since, in my opinion, the agent underpriced the home in the first place. How much was this information worth? I don't know - you tell me! Michael M. Kloian Author/Broker 31 years experience
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