Sure to raise quite a hullabaloo in the real estate community, this article that ran on the Examiner about a woman who unknowingly purchased a below market rate unit at market rate prices, and would now like to sell it at market rate, but can’t, should be a wake up call to our little real estate machine. In the heat of the frenzied market we experienced, so many of the small details were over-looked. Not good. You absolutely must read the disclosures, and the preliminary title report. Read it all! We know first-hand how many buyers and sellers over-look so many documents in an effort to just be done with the whole process, or be the winner in a multiple offer situation, but this is a striking example of why you shouldn’t do that.
Who’s to blame? Realtors? Buyer? Seller? Everyone?
“The restriction, according to the lawsuit, was indicated on the title report…” Ouch!
-S.F. condo rules snarl FBI agent’s plans [SF Examiner]