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Cree Quaker's Blog

By Cree Quaker | Agent in Woodstock, NY
  • A Seller Decides to Keep a Buyer's Life Savings

    Posted Under: Home Buying in Brooklyn  |  June 24, 2009 9:02 AM  |  1,822 views  |  No comments

    A Seller Decides To Keep A Buyer’s Life Savings

    I was just posting an answer on the need for proper representation and just saw the above
    story. 

    Interestingly enough, I have a friend who's parents were up from Florida and wanted to purchase a little co-op or condo to be near their daughter in Brooklyn Heights.  They were going to use me as a buyer's rep, but one sunny day they stopped into a listing broker's open house.  The couple loved the co-op and made an offer on the spot.  They couldn't believe at the amazing price they got.  The listing agent told them they have a list of preferred attorneys and inspectors that they should choose from if they wanted a smooth transaction.

    When we out for coffee they told me what happened and said the listing agent told them there was no need for a buyer's agent and they had a list of preferred contacts for due diligence.

    I took the information on the property, looked up the details and explained to them it was so cheap because the land was leased and the renewal was up in only a few years.  I gave a new list of impartial attorneys to choose from and he further confirmed there was a mass exodus of owners from the building for just that reason.

    Needless to say, they got out before contract and didn't lose anything.

    The value of a good buyer's broker is immeasurable.!

 
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