without our permission.Now we are told that since this buyer backed out we are responsible for listing every item found on the inspection on the disclouser. This is an 80 year old historic home while being very structural sound has the average 80 yr. old issues. Does my realtor have any liabilities for excepting this report without my knowledge?
If the buyer backed out due to your inspection then you obviously have bigger issues than your average. I can not speak for all realtors but I know I'm only interested in what is of concern for the buyer. I do not want to see the inspection as a whole. That doesn't mean that I don't recieve it at times that way. Its a toss of a coin...it can work as an advantage for you because your aware of any issues and can start working on it. Disadvantage is that if you don't know whats already on there its going to show something at a later date. I have clients that feel both ways about it...I want to know in advance....or, No, I don't want to know at all because it may not be an issue for someone else. Its a perception thing anyway, you know, what bugs me may not bug you and so on. We all have our pet peeves! Your agent, however, was not in the wrong at all. You do sound however as though your not happy with that agent. My advice would be that if there are hard feelings at this time based on that you might want to think about finding a new one and discuss with the new one upfront how things will transpire or how they personally do things. You may find they do things in a different manner than the current one and in a way that is more acceptable for you. Me personally, if your not happy and feel I've done you wrong, warranted or not, I'd rather you move on to a place your more content with.
Justin,
If and when a buyer uses the inspection report as an excuse to back out of a contract any Realtor worth a grain of salt would ask to see the report. You and they should want to know what will arise with the next buyer.
Yes it is true that now you have to report what was said, many buyers like it when you say previous report available, let them get that stuff out of the way before they make their offer and let them know that your pricing reflects your knowledge of what has to be done.
Now repair or adjust as needed and move on - the house is going to sell faster.
Good Luck
Margaret
Since undisclosed issues on a home gives the buyer cause for a lawsuit againt you the home owner, you should want to disclose EVERYTHING that you know about the house, good and bad. Every buyer should have an inspection, so chances are good they would find this out anyways, and if it's not disclosed you may have buyer after buyer pulling out. It's always best to be as honest as possible upfront, wouldn't you wish for the same on your next purchase??
The Seller's Disclosure form as required by Texas law must show whether you have a report on the condition of the property. Regardless, if you are aware of conditions of the property, whether there is a written report or not, you are required to disclose them to a buyer.
If you know of something wrong in the property and hide it from a buyer, the Texas Deceptive Trade Practices Act provides that you can be liable for up to 3 times the amount of the damages. Occasionally, sellers try to skirt the law. In one case a seller knew of foundation problems and had a quote from a repair company, but failed to disclose it to the buyer. The buyer discovered the problems after purchase, asked for a quote to repair it and the company happened to be the same one. The buyer recovered treble the cost of the foundation repair.
Your agent must treat you as a client. A client dictates what his agent will do. If you had specifically ordered your agent not to accept the report beforehand, there might be some cause of action, but the court would take a dim view of assessing liability to the agent for the client's attempt to hide the truth from a buyer. There are limits to client demands too, such as whether an order violates law (like killing someone), is not within the scope of duties (like providing meals), or whether the agent is capable of performing (holding an open house for 24 hours).
As to responsibility, your responsibility is only to disclose to the buyer. Whether the buyer asks you to fix any of the problems is negotiable between you and the buyer. Your explanation that the structure is 80 years old is a reasonable counter to a buyer who asks for repairs. However, if something is unsafe, you should consider fixing it for your own safety as well as your family's, not just for a buyer.
If you discovered defects in a house that were not disclosed, you would feel cheated. And the law says you could get back a lot more than you were cheated out of. Disclose, and when in doubt, disclose. An educated buyer cannot sue you.
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