BUYER or SELLER, ARE YOU NAIVELY entering this DEAL?

Buying or selling a piece of property and/or a home is a ‘big deal’ and nothing to take lightly. We all know that, but you would be amazed how many people enter the purchase or selling process in a some what nonchalant manner by allowing a realtor to handle the whole process. This occurs either because the realtor is aggressive and wants to be in control of the whole process, or, as a result of ‘default’ because the client is trusting and/or feels intimidated or has little understanding of how the process actually works. The ‘mountain’ of paper work that ensues at the time of listing a property or making an offer to purchase a property that requires multiple signatures and initials just enforces any feeling of intimidation or uneasiness. This is very unfortunate as the client, buyer or seller, should be fully involved in the process from beginning to end so that they understand completely what they are doing and are happy with the final outcome.

One thing a client should never relinquish control of to a realtor is the process of finding and hiring the inspectors desired to determine the actual condition of the property and it’s systems. If the realtor engages the various inspectors on your behalf, the inspectors are actually beholden to the realtor who sends inspection after inspection to these inspectors while you are just a person involved in the one ‘deal’. If you find and hire your own inspectors, you are the one setting up a personal relationship with those inspectors after having become aware of exactly what you can expect of that inspector and you have expressed what you expect of that inspector. This relationship is essential if you want that inspector to be fully involved and concerned for your well being both during the inspection but afterwards as well.

Another area of big concern is all that paperwork that I spoke about above. Don’t even begin to think that the paperwork is there for your protection, because it most certainly is not! In fact, much of it ‘boxes you in’ and creates limiting factors or obligations on you. Lets call it what it really is. All of that paperwork is actually a huge binding contract on you. One sneaky thing that has appeared in the paperwork is the requirement that you have to supply your realtor with copies of all reports of inspections made on the property even if you arranged for, paid for and had no intention of providing/sharing that information with anyone else. What a farce! Why should you ever be required to share that information with the realtor when they didn’t pay a cent for it – you paid for it! What happens is, if your deal falls apart, they use those inspections to put together a new deal with another person. Nice, huh? However, if you decide you want the property owner (seller) to fix some things or make a dollar concession to you because of things in the inspection report, then you must provide a copy so that they know exactly what the issue is that you are talking and negotiating about.