I intended to name this blog ‘house buyer oh no’s’ when buying a house in London Ontario, but these issues were not directly caused by the buyers
1. We listed a client’s house and received and accepted an offer on it in two days. Financing and home inspection were fine but when the Buyer’s lawyer searched the title, it was discovered the builder and the City did not sign off on the final inspection and there was still an outstanding work permit.
My seller client called her lawyer who did her home purchase 9 years ago and his reply? “Not my fault!” Really! Yes, he blamed the City and her and would not take responsibility and blah, blah this and that.
My client and I contacted the City and after many run arounds, got everything settled. This is not unusual, I have seen it happen many times so that is why, we, the so called lowly unwashed Realtor, research the city for any outstanding work orders or efficiencies before we list a house and not depend on the lawyer to do so.
2. We sold our clients house in a newer neighbourhood, they had lived in it for two years and wanted to move to Old North London. When the buyer’s home inspector found two serious issues with the home, the new buyers wanted a price reduction. My seller client’s had a home inspection when they had bought the home and the two deficiencies were not exposed or found.
I asked the sellers who their home inspector was and how they chose him and he was gave the lowest quote over the phone. Did they ask for references? Did they ask for experience etc.?
No, they did not. Upon cooperation with the new buyers and my seller client, we worked out a compromise to the deficiencies, my seller paid for the correction and the sale went through, but at a cost to them of $3300!
The 3rd example is real common and very sad. I was asked to come and list a house that these folks had bought 5 years ago. When I suggested the house price to them, they said “But, that is the price we paid 5 years ago!”Well, I explained to them that they paid $21,000 too much for it when they bought it!
You can imagine what they said to me. They decided to go with another Realtor. At this writing, 5 months later, after two other Realtors, they have gone to a 3rd Realtor and still trying to sell!
How sad because these sellers were very nice and hadn’t taken the time to pick the best Realtor for them when they bought the house in the first place. Oh, by the way, the Realtor they bought the house with is no longer in business! Wonder why?
So in summary, the above 3 errors are more common than not and as a professional Realtor, I find it callous and unnecessary.