Real Estate

I purchased an older home a few years ago and now am having mold issues due to excess water damage, this is obviously a problem that date’s back to before I owned the home. Is the realtor legally binded to tell the buyer before purchase of any kind of water damage/mold issues?
Thank You Thank You!!!!

The seller would have to fill out a disclosure statement that should list any items that *they* are aware of. Unless you could prove that the agent was in cohoots to hide something, your beef *would have been* with the seller. But, then, comes your next problem: Proving the seller *knew* there was a water issue. This is going to cost you money to prove… and add to that the court costs of suing the former owner… Another problem you may have is the fact you state you bought this home *a few years ago*. Did you have an inspection at the time of sale?

In my opinion, a *few* years means more than 2, and I would say you may be dead on arrival proving that this former owner knew and prevailing in court.

Speaks for itself. What are some important agencies or clubs that its important or beneficial to be a part of, if your a Realtor or real estate agent?

Other than the standard associations that come with being a Realtor (NAR/your local and state associations), I recommend joining networking groups. Some agents are members of country clubs and chambers of commerce, which help circulate their name. Being a Realtor is about promoting yourself – not your business – so any way you can find to get your name out there, the better off you’ll be.

My mother received a certified letter from the buyer of her home requesting money because he put in a French drain due to water coming in the basement after he purchased it. In case we go to court or mediation I would like the seller’s disclosure, inspection report and sales agreement. I have asked her realtor for it but she does not answer my emails or return my phone calls. Is there another way I can obtain these papers since my mother can not find her copies?

A nice email to the Broker on record should get you copies of the sales agreement and seller’s disclosure sheet but at this point highly unlikely you are going to get the buyers inspection report

If you where to go to trial then in discovery phase you would be legally entitled to any and all documents relevant to the suit

If the buyer is seeking serious cash, or seems on the verge of filing suit then best bet is to at least consult an experienced real estate lawyer

In general for the buyer to prevail they must not only produce admissible “proof” that you mother knew of the flooding basement, she took steps to hide this material defect , the fact the sellers disclosure sheet does not address flooding in the basement does not mean your mother knew and attempted to hide the fact

If the buyer files suit in small claims court it may be in your best interest to hire a lawyer, to move the suit to real civil, in that case unless the buyer is an experienced contractor his lay opinion on what is the problem with the basement would not be admissible “proof” in a court of law

If a bank seizes a house and gives a title of bank owned, how does it get assigned to a realtor?
Does has to ask the bank to get the listing or bank picks a realtor or?

I am guessing you are a RE agent. And you seek listings. Waste of time. If I am correct
re your query. I suggest you become a buyer’s agent and never ever do dual agency.

I can guide you

tons of buyers if you look in the "right places."

Is it easy for a first time homebuyer to buy a house without a realtor? Or is this completely risky and stupid? What kind of problems could occur? And also, how much would this save for a house around $250-300k ? What are typical realtor fees? And do people ever just go without a realtor but then get a lawyer to overlook the paperwork prior to signing? If so, how much does that cost and is it cheaper or more expensive?
by the way – I’m mainly referring to For Sale By Owner places … so the seller would NOT have an agent.

I had a great answer, but then you added the details about for sale by owner. That changes things.

This is not like buying a car for sale by owner – there are a lot more rules, things you have to pay for to make sure you’re not getting scammed. What kind of problems could occur? Some guy could take your money, pretend to transfer the title to you, let you move in, and then sell the house again (this time legally) and you would have no legal right to the house.

I have no idea whether going with a lawyer would be cheaper/better. You could always call one and ask what the fees would be or if they charge a percentage of the sale. That might make up your mind for you. The thing with a lawyer – they’ll probably take their fee up front, while a realtor will build it into the cost of your mortgage so you won’t need as much money up front.

I am planning to sell my home, but really can’t afford a Realtor without cutting in to my down payment for my new home, so I am thinking of selling it myself. Has anyone had luck selling on their own and if so, do you have any helpful tips for selling fast. Thanks in advance!

Yes it can be done. You would advertise your property as FSBO (for sale by owner). Call one of your local Title Co.’s and they’ll help you out alot. They have to handle the stuff in the end anyways. There’s lot’s of free advertising online, and you may be surprised but you can get some really great leads, sometimes from someone that will be moving to your area. Just be sure to write really good ads to grab attention to the special features of your home. Good luck

I really really want to become a realtor, but I don’t know which college major would help make that dream come true. Help?
I know I need to take business, but there are different branches of that major and I don’t know which is best for becoming a real estate agent. Maybe Marketing?
So, I could major in Business Marketing and be able to be a realtor? I want to work for a well known agency and be successful.

definitley marketing. perhaps with a minor in communication. that way you know how to market the house, yourself, and you know how to communicate well with people.

Any one know how to find forecloser listing with out contacting a realtor or paying some one for the listings?

Paying for lists is BS. All banks use realtors—getting your own Realtor is important as they can access the Multiple Listing Service that you cant. I have a realtor that E-mails me new listings that she thinks may interest me at no-charge.

Im moving in the New york area, and Im not sure if I rent from a realtor do I or does the owner pay the broker fee? Im confused. I know I have to pay the security deposit and that months rent. I just need to know about the brokers fee or realtor fee? Basically who pays the realtor?

In New York State you pay the Realtor’s Fee.

I am planning to take my realtor (buyer’s agent) to court over misrepresenting a house that I purchased a little over a year ago? Unfortunately, here in NC, the realtor belongs to a very large real estate company. Any caveats or precautions? Aside from simply finding an attorney willing to take the case without a conflict of interest, it seems the real estate industry has the advantage of creating and knowing every aspect of manipulating the process.

You can’t take the agent to court, it is the agents broker that you take, that "very large real estate company". They will likely win, most misrepresentation is the fault of the seller.