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urbanrealtor
ParticipantDude thats just not fair.
We need some kind of anecdote.
Something.
Okay I have one. Its pretty vanilla though.
My best friend is house hunting. I am his agent and he likes to free-range it at open houses.
He went to one the other day at a place we had looked at 2 weeks ago.
The agent hosting asked him if he was brokered up.
When he said that he was, the hosting agent kept saying “well I could represent you on this property”. I means seriously, this is not illegal and I am not sure that this is even something that rises to the level of board violation but Jesus that is rude. I mean aside from the ethical situation, it just makes our industry look more like Cal Worthington than we already do.
BTW. As I write this I am sitting at my wife’s bedside in the hospital. She had our first kid last night. Addiction is a terrible thing.
ParticipantI am with Dr. Smith on this.
Dr. Smith was my favorite “lost in space” character.
ParticipantI am with Dr. Smith on this.
Dr. Smith was my favorite “lost in space” character.
ParticipantI am with Dr. Smith on this.
Dr. Smith was my favorite “lost in space” character.
ParticipantI am with Dr. Smith on this.
Dr. Smith was my favorite “lost in space” character.
ParticipantI am with Dr. Smith on this.
Dr. Smith was my favorite “lost in space” character.
ParticipantThis happens a lot. There is a disclosure called a CLUE report (comprehensive loss underwriting exchange) which looks for insurance damage.
The problem is that in older buildings, often this is just unfortunate timing on the part of the buyers (both the developers and the owners). I had a sewer inspection done on a 20’s era property recently. This was a camera inspection where they actually send the cam with a light down the sewer main. This is the most exhaustive inspection you can get short of actually digging up the lines (which is prohibitively damaging and costly). It passed with flying colors but the entire line (with its 83 years of wear collapsed a month later. While inspection and information are good things to have, in the end, some amount of purchasing is a crapshoot. While we try to minimize this, it is a necessary evil.Out of curiosity, is this the place on west Penn?
ParticipantThis happens a lot. There is a disclosure called a CLUE report (comprehensive loss underwriting exchange) which looks for insurance damage.
The problem is that in older buildings, often this is just unfortunate timing on the part of the buyers (both the developers and the owners). I had a sewer inspection done on a 20’s era property recently. This was a camera inspection where they actually send the cam with a light down the sewer main. This is the most exhaustive inspection you can get short of actually digging up the lines (which is prohibitively damaging and costly). It passed with flying colors but the entire line (with its 83 years of wear collapsed a month later. While inspection and information are good things to have, in the end, some amount of purchasing is a crapshoot. While we try to minimize this, it is a necessary evil.Out of curiosity, is this the place on west Penn?
ParticipantThis happens a lot. There is a disclosure called a CLUE report (comprehensive loss underwriting exchange) which looks for insurance damage.
The problem is that in older buildings, often this is just unfortunate timing on the part of the buyers (both the developers and the owners). I had a sewer inspection done on a 20’s era property recently. This was a camera inspection where they actually send the cam with a light down the sewer main. This is the most exhaustive inspection you can get short of actually digging up the lines (which is prohibitively damaging and costly). It passed with flying colors but the entire line (with its 83 years of wear collapsed a month later. While inspection and information are good things to have, in the end, some amount of purchasing is a crapshoot. While we try to minimize this, it is a necessary evil.Out of curiosity, is this the place on west Penn?
ParticipantThis happens a lot. There is a disclosure called a CLUE report (comprehensive loss underwriting exchange) which looks for insurance damage.
The problem is that in older buildings, often this is just unfortunate timing on the part of the buyers (both the developers and the owners). I had a sewer inspection done on a 20’s era property recently. This was a camera inspection where they actually send the cam with a light down the sewer main. This is the most exhaustive inspection you can get short of actually digging up the lines (which is prohibitively damaging and costly). It passed with flying colors but the entire line (with its 83 years of wear collapsed a month later. While inspection and information are good things to have, in the end, some amount of purchasing is a crapshoot. While we try to minimize this, it is a necessary evil.Out of curiosity, is this the place on west Penn?
ParticipantThis happens a lot. There is a disclosure called a CLUE report (comprehensive loss underwriting exchange) which looks for insurance damage.
The problem is that in older buildings, often this is just unfortunate timing on the part of the buyers (both the developers and the owners). I had a sewer inspection done on a 20’s era property recently. This was a camera inspection where they actually send the cam with a light down the sewer main. This is the most exhaustive inspection you can get short of actually digging up the lines (which is prohibitively damaging and costly). It passed with flying colors but the entire line (with its 83 years of wear collapsed a month later. While inspection and information are good things to have, in the end, some amount of purchasing is a crapshoot. While we try to minimize this, it is a necessary evil.Out of curiosity, is this the place on west Penn?
ParticipantI am really glad to see this getting more airtime.
I have threatened to cancel escrow several times recently when a bank or the overtaxed escrow firm they contract with have failed to order or deliver hoa docs in a timely manner.
It really is important. This is especially true during the abbreviated inspection period that most bank-sellers want buyers to abide by.
EG: If you have a 7-day inspection contingency that is removed passively (like it ceases to exist when the appropriate date passes) and the seller bank delivers hoa docs on day 8 showing 2 special assessments of 10,000 each, you might be in a shitty situation where you have to give up either on the deposit or eat the assessment cost. If this happens, you can fight it but succeeding might involve attorneys or courts.
Point is, really make sure you get this as a buyer and that your agent knows how to read it.
Good luck.ParticipantI am really glad to see this getting more airtime.
I have threatened to cancel escrow several times recently when a bank or the overtaxed escrow firm they contract with have failed to order or deliver hoa docs in a timely manner.
It really is important. This is especially true during the abbreviated inspection period that most bank-sellers want buyers to abide by.
EG: If you have a 7-day inspection contingency that is removed passively (like it ceases to exist when the appropriate date passes) and the seller bank delivers hoa docs on day 8 showing 2 special assessments of 10,000 each, you might be in a shitty situation where you have to give up either on the deposit or eat the assessment cost. If this happens, you can fight it but succeeding might involve attorneys or courts.
Point is, really make sure you get this as a buyer and that your agent knows how to read it.
Good luck.ParticipantI am really glad to see this getting more airtime.
I have threatened to cancel escrow several times recently when a bank or the overtaxed escrow firm they contract with have failed to order or deliver hoa docs in a timely manner.
It really is important. This is especially true during the abbreviated inspection period that most bank-sellers want buyers to abide by.
EG: If you have a 7-day inspection contingency that is removed passively (like it ceases to exist when the appropriate date passes) and the seller bank delivers hoa docs on day 8 showing 2 special assessments of 10,000 each, you might be in a shitty situation where you have to give up either on the deposit or eat the assessment cost. If this happens, you can fight it but succeeding might involve attorneys or courts.
Point is, really make sure you get this as a buyer and that your agent knows how to read it.
Good luck. -
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