READ THE DISCLOSURES and PRELIMINARY TITLE REPORT!
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]