Whose Fault is It?

Nothing is more frustrating and exasperating than a closing that never occured.

First of all, whose fault is it?

And could have this been avoided? 

The answer is a resounding YES.

Aside from exercising extra due diligence as buyer’s agents, we should NEVER RELY  on the listing agent’s listing information and seller’s disclosure.

Attention Listing Agents:  

Please spare us, the buyer’s agents and buyers the agony and excruciating process if you don’t know that you are not listing a FEE SIMPLE property.

     —  Paragraph 10 of the Greater Hartford Association of Realtors Real Estate Purchase Contract clearly states that Seller will transfer TITLE to              FEE SIMPLE PROPERTY not a LEASEHOLD or Property subject to GROUND LEASE.          

         Fee Simple Property is abolute ownership. The holder is entitled to all rights to the property and is limited only by public restrictions such as              zoning and private restrictions such as convenants in the case of condominiums.

 

Attention Sellers:

Do not check out  NO on box no. 36 of the State of Connecticut Department of Consumer Protection Residential Property Condition Disclosure Form wherein it asks if the property is subject to any land restriction. Please do not lie and tell your agent when the buck was passed on that you don’t know that your property is on a GROUND LEASE when you pay $23 every month for the lease.

This early morning gusts of rambling is brought to you by the storm Sandy whose fury will be felt the until tomorrow night here in my neck of the woods.

Real estate likens a storm. It’s unpredictability is inherent in the beginning, the middle and the end. 

It does not promise verdant oasis nor smooth sailing.

But as realtors, we can send out advisory so we become more prepared and not get caught in the midst of chaotic conditions. 

Rant if you want. We are here to listen and learn.

“Be thou the rainbow in the storms of life. The evening beam that smiles the clouds away, and tints tomorrow with prophetic ray.”
 Lord Byron

 

 

 

Advertisements

About Maria Gilda Racelis

I am a full-time realtor and a no-nonsense individual when it comes to rendering services to my clients. I take my job and the responsibility it entails seriously. My clients come first. I ensure that they know and feel I am working for their best interest. However, I do not carry out tasks to compromise my principle. I conduct my business with pride, honesty and integrity. I will do whatever it takes to meet their goals while adhering to my principle. "And the connection I make with the clients throughout the process, that to me is how I define success." Buying and selling homes can be very stressful. It is my job to make the process easy and fun as can possibly be for my clients. I take personal gratification from the smile on the faces of highly satisfied clients. I have amassed 100% positive and rewarding testimonials from my clients after many years of experience in real estate business. To enhance competency in the field for my clients' benefit, I continually seek to further my knowledge and expertise. With this in mind, I hold the following designations and expect to add more as the need for them arise. If you are looking to work with a competent professional realtor who will put the best foot forward for your best interest, you have just read her profile. I am always available to listen to your concerns and questions. Please do not hesitate to contact me anytime.
This entry was posted in Real Estate. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s