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#202726 - 02/13/08 06:08 PM Re: $20,000 loss, who is responsible [Re: super realtor]
smiling jack Offline
Member

Registered: 02/07/08
Posts: 172
Loc: georgia
Very Interesting: romazco is upset cause his favorite realtor sold his house for 20k less than he thought he was selling it for due to defects. He did not have to accept the deal; he could have said no. Instead he took the deal and now wants remedies from someone. I don't think he cares who. We all want remedies and unfortunately the system listens.
Look at my 2 fellow Ga brokers who became septic experts; like I would know a septic issue if it bit me in butt. We in Ga. are all reminded too often of super agents who are whatever they need to be. Come on folks, tell the man that agents know nothing. I never will look at an old inspection and pass judgement. I will look at each issue on the new one and find a value for the unforseen defect and ask my client to either remedy it or give a credit. Is that how it is done, or am I going to have to become a septic expert to compete for business.

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#202758 - 02/13/08 07:51 PM Re: $20,000 loss, who is responsible [Re: jstip]
OHAgent Offline
Major Contributor

Registered: 02/08/05
Posts: 2783
Loc: Ohio
Some of the responses here seem a bit harsh. I don't think the OP is out of line to ask this question. If I understand it correctly, he is upset because when he sold his house, he had to make a concession due to a problem with the septic system (obviously someone pointed this problem out to the new buyer). It seems normal to me that he would want to know why nobody pointed this problem out to him when he bought the house. I don't know the procedures in NJ, but I am not present for most of my buyer's inspections. After the inspection, I get a copy and go over it with my buyers. If your inspection showed the the septic system was not up to code, I am surprised the inspector didn't point that out to you and I am also surprised that your agent didn't notice it in the inspection report. Did you read over the inspection report when you bought the house? Were you there during the inspections? Did the inspector say anything about the system?

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#203430 - 02/16/08 02:35 AM Re: $20,000 loss, who is responsible [Re: robmazco]
shana Offline
Major Contributor

Registered: 11/06/07
Posts: 1602
Loc: Nevada
 Originally Posted By: robmazco
Unsure if this is best place to post.
House in New Jersey was put on market, 3br, 2 bath, etc. Buyer put bid and had inspection done. Turns out the septic tank inspection shows the leech field only suitable for a 2 BR, NOT a 3 BR based on NJ specs. Because of this, we had to go down $20k in price to cover costs. We also had to sell as we had to relocate, we had no choice.
We dug up septic inspection paperwork from when we bought house, found in there same info, leech field is specced for 2 BR house.
So the question is - We paid lawyers and real estate agents to ensure this kind of thing would not happen and it did..whos responsible?


just curious, where did you get the idea that RE agents and lawyers "ensure" or "insure" that these things will not happen, especially considering that you had not provided the old inspection report to them in advance? how can anyone ensure that the consequences of a historical event will not happen, short of intentionally concealing knowledge of the event?

irrespective of their duties, what difference would it have made if a RE agent or lawyer had discovered this fact before the buyer's inspector did? would it have avoided or mitigated a potential loss in value due to the code violation? would the buyer not have insisted on a lower price? the septic issue is a FACT, and there's no changing it, unless you have access to a time machine.

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#205171 - 02/22/08 09:00 AM Re: $20,000 loss, who is responsible [Re: super realtor]
Ashby Offline
Member

Registered: 02/20/08
Posts: 22
Loc: Virginia USA
Sorry for your situation. It would seem however that someone would have and possibly should have caught this error prior to your going to settlement on the property when you purchased it.

I am sure it must have been looked at by several people along the way. In the end the responsibility falls on you, despite the fee's paid to the settlement attorney and others.
Sorry you had to go through this.
_________________________
Mortgage Broker

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#205239 - 02/22/08 11:54 AM Re: $20,000 loss, who is responsible [Re: Ashby]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7685
Loc: PA
 Quote:
But it's really not my job and many people think I am foolish because I open myself to liability by dabbling in areas that I am not an expert. I am not an inspector.


Are you trying to be an inspector by saying "Hey, this issue on the inspection report may need some further investigation...?"

I feel bad that nobody said to the OP when purchasing the house "Hey, this septic needs to be addressed..."

While it's not my job to interpret an inspection report, I do think it's my job to point out something they should investigate further...

BUT THAT SAID - I think it's extremely foolish to do something like buy a house without reading everything over. When we bought our house my husband would not sign one single thing until we completely understood all the implications, conditions...

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