When you think of a REALTOR, what do you think of? Lately We are hearing overpaid, a rip off-- this saddens us as there is a Very Big Difference from a REALTOR and anyone who is licensed to sell real estate in my eyes. There is so much talk about value and what we do or don't do for the public. It is hard to see the differences or what is the benefits of using a Full Time- Full- Service REALTOR. WE think of negotiating and building relationship, protection for our clients, working hard, educated to what is happening around a specific area and the pitfalls to know about, helping people every way WE can. We think of helping you get to your Whooo hooo!!!! moment, quickly, efficiently and navigating all the obstacles that can be in your path!
Yes, you can sell your home yourself, use a discount brokerage, or hire a agent/a broker not associated with NAR with the designation of a REALTOR. So why does it matter? What difference does it make? REALTORS have taken an oath and are held to the code of ethics from NAR(National Association or Realtors); they give you a Protection from what you do not know and will guide you to make educated decisions. They have tools to help you stay on track and focused on what is important. We have a Fiduciary responsibility to our clients, to act in their best interest. An I-buyer like Open Door, Zillow, etc., etc., ARE the buyer, their goal and driving force is to buy the home as cheap as possible, so they can resell it back on the open market. They have no duty to the owner of the property or the the Buyer of Open Door's home.... In a nutshell there are your differences. Now, in the litigious world we live in- you can be sued for anything, mix in the most expensive item most people buy in their lifetime and that puts the general public at risk. As many lawyers, NAR, ADRE and AAR have all said.
Today I am listing the top 5 reasons why a buyer will sue a seller.
#1. Not disclosing important details about the property to potential buyers, in writing. What may seem a small detail to you- could be a very big thing to someone else. One of the only documents that is still valid after the closing is the Seller Disclosure Statement. so just because you closed on the home, does not mean the buyers can't come back and sue if they feel wronged.
#2. Not disclosing material facts on the seller disclosure paperwork, sellers are asked a myriad of questions regarding their home including items like any roof or water leaks, termites, or pest issues, plumbing or air conditioning issues, zoning ordinance violations, building code violations, and more. It is vital that a seller makes every effort to disclose past and present issues, even if they have been resolved and even if they happened before they owned the house. If it is a known defect, it needs to be disclosed. Failure to disclose a material fact can certainly lead to a lawsuit. And it can be simple for a buyer to learn a seller knew of a defect. It’s not uncommon for a neighbor to provide a statement outlining a previously known issue.
#3. Concealing a defect Another way a seller can be sued? By concealing a defect through fraudulent misrepresentation. Or repairing an item in the home without disclosing it. An example of this would be a seller who freshly painted over a ceiling leak just in time for an inspection or who, on the extreme end of the spectrum, collaborated with a home inspector to create a fictitious report.
#4. Making a disclosure mistake It should be mentioned that not understanding a question on the seller disclosure paperwork or making a mistake when filling out the documents does not negate a seller from their responsibility to disclose what they know. That small mistake could lead to multiple thousands of dollars in a lawsuit.
#5. Not filling out paperwork correctly, disclosing other parties on title, having work done on the property and not paying the trades or making incorrect statements to the title company, or errors on the paperwork to the title company
As We see it that is a big value, So if you want a great team behind you- contact us to buy or sell a home throughout the East Valley of Phoenix, including: Phoenix, Mesa, Gilbert, Chandler, Tempe, Scottsdale, Queen Creek, Apache Junction, San Tan Valley, Gold Canyon! 602-644-1416.