Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: fatty who wrote (18826)	3/23/2004 9:12:54 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<Since the agent has no obligation to volunteer any information>> No obligation to volunteer certain information which might properly be deemed confidential about the owner, but certainly an obligation to be honest about ownership, debt status of the property, and legal issues when asked. I see no reason why the agent wouldn't be honest if he/she has an ownership stake in the house--it's the law in Virginia to disclose this upfront. Doesn't even sound to me like the agent is the owner, but so far I guess you don't know. Just ask point-blank who the current owner is (this would be transparent and easily researched under our local MLS system but don't know about yours) and why the owner needs or wants to sell so soon after buying. And whether the former owner/contractor still has any stake in the property, such as owing money on it. What you're trying to determine is whether the current owner/seller actually has clear title to the property, free of any mechanic liens or other debts which haven't been disclosed. You could present these questions in a very sincere way, stating that you are concerned about the fast turnover of the property and would really like to make an offer on the home once you're sure the deal could work smoothly without settlement delays or problems. Part of your "sincerity" approach would be to let the agent know you have a home to sell to make this deal work, so naturally you don't have time to get involved in someone else's problems, because you have enough of your own. <<gg>> good luck!

To: fatty who wrote (18826)	3/28/2004 7:01:35 PM
From: TH	Respond to of 306849

A very good friend bought a home in West Seattle two years ago. I was a bit concerned when he told me that a drug dealer had been killed there. He estimated this fact knocked about 50K off the asking price. Recently I got to see his new home for the first time, and with his unrestricted view of the city and port, I think he made the deal of the century. He is preparing to sell the air above his home to five neighbors for about 75K more than he paid for the property. His agent was very clear that someone had died a violent death there. So far no ghosts or returning bad guys looking for cash under the hardwood floors -g- TH