Home Buying in Tampa>Question Details

Koli, Home Buyer in Tampa, FL

Relo Company Complete Rider

Asked by Koli, Tampa, FL Thu Aug 11, 2011

contains waiver of (their) deceptive trade practices, and consumer protection of buyer, along with other seemingly horrible rules. my realtor says it is fine. i say it is shocking. realtor let me read this rider after he was sure i loved the house. what experience do you have with such sales?
thank you so much!

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8
You must understand that, depending on state law, you may or may not be able to even waive such issues. In most states a criminal act or fraud cannot be waived even if you agree to it. I would be surprised that any document would come right out and say if we commit deceptive trade practices or violate your rights as a consumer that you cannot do anything about it. If you really want the house, I would suggest you speak with a real estate attorney and get his opinion on what the document actually purports to do. For a few hundred dollars you have peace of mind.

Jack Gillis, M.B.A., J.D.
Jack Gillis Realty Advisors
Nathan Grace Real Estate, Broker
5619 Dyer Street | Suite 100
Dallas, TX 75206
Cell: 214.718.4910
Email: Jack@JackGillisRealty.com
2 votes Thank Flag Link Thu Aug 11, 2011
Never sign anything you are not comfortable signing. If your agent can't satisfy you with an answer then speaking with an experience Real Estate Attorney or another agent might ease your mind.
2 votes Thank Flag Link Thu Aug 11, 2011
Too many people assume that just because it is a widely used Document, that it will be no problem:

Glad you see you are astute!
I am less than satisfied with your agent's reaction.
2 votes Thank Flag Link Thu Aug 11, 2011
IF you love the home, you may want to check with a RE attorney. If the doc is part of a purchase set of docs for a particular home, I would recommend, if you do not like it, that you do not sign it when you make the offer and see what they say. You still have a choice, unless you like the home that much.

Bill Szydlowski
Web Reference: http://www.tampamyhome.com
1 vote Thank Flag Link Thu Aug 11, 2011
Hi Koli,

If your Realtor has submitted your offer, he will earn 100% of the commission paid if you close on this house.

Sorry you are not having a favorable experience.

Should you not buy this property and have not signed an exclusive buyer broker agreement with this Realtor, you should be able to part ways. Not every buyer is a good fit for every Realtor. I try to work with most clients but have to admit that I've parted ways with a few clients and was very relieved to do so.

That's fair for you to offer to find a Realtor who will agree to split the commission with your old realto. As long as you're buying at least a $200k property, you should find some realtors willing to work for half the normal commission.

Hope this helps.

All the best,
Alma
http://www.SoldOnTampa.com
0 votes Thank Flag Link Thu Aug 11, 2011
I can't add any more to what has already been said. Be sure to contact an RE Attorney, they are versed in Real Estate Law whereas we, the Realtors are not allowed to practice real estate law.
0 votes Thank Flag Link Thu Aug 11, 2011
Relocation companies use their "required" forms and if you don't want to agree to the terms then they may just wait and sell to another buyer. You probably cannot make any changes to their addendums.

This is the same for Bank owned properties, they have their customized addenda that you MUST sign or you CANNOT buy their property.

I can highly recommend attorney Lawrence Fuentes with Fuentes and Kreischer if you would like an attorney review. It may also be a good idea to have Mr. Fuentes also review your title committment to make sure you don't have any unecessary "exclusions". Realtors are not trained to give you legal advice.

Here is Lawrence Fuentes' info: http://www.FKLaw.net

Good luck and don't delay too long or you may miss out . You can write in your offer that you would like your attorney to review the contract and addenda. There is a standard attorney review addendum to include with your offer.

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
Westchase Office
http://www.SoldOnTampa.com
813.244.9898
0 votes Thank Flag Link Thu Aug 11, 2011
Guys, i thank you so very much for your replies!

my realtor, who i was not happy with before, said it was a "standard" contract.
suppose a lawyer would say it could be worked out, could i buy this property with another agent? i have had enough of this eel-realtor, and i do not want to even see him one more time.
would it be possible to engage another one and have them split the commission?
0 votes Thank Flag Link Thu Aug 11, 2011
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