This week I experienced an local agent that had withheld information on a property a asset management company.
After all terms had been in the accepted offer the agent neglected to state that there was a water leak in the property.
After arriving with the home inspector preparing for the inspection the agent's spouse arrives unannounced and stated that he was there to repair a water leak so that the water could be turned on from the meter for the inspector to perform his task. The spouse almost immediately produces a saw and starts to cut into the drywall to expose a pipe that appear to had frozen and burst from freezing. Of course the showing, the offer, and the acceptance was all completed in the dead heat of August. I contacted the agent and inquired as to why this issue was not disclosed or even repaired prior to the time of the inspection whereas the agent was informed of the time well in advance.
The agent was very defensive stating that they had no knowledge of the leak and the property was being sold as is and my buyer's could take of leave.
I escorted the buyers for the final inspection the day prior to closing and the wall was still cut open, the plumbing had not been repaired and the agents spouse had been storing personal property in the garage. My buyer's were furious as the had demanded some answers as to why this was happening. I can the agent and was yelled at, screamed at, and curse at because I questioned as to why this situation was present. I was accused of trying to get my buyer's out of the contract and many things.
Well my buyer's were determined to find out who was going to pay to finish the repairs and decided to photo the unfinished repair and the personal property in the garage.
By doing their homework, they were able to make contact with the asset management company and voice there concerns about the listing agent and the issues at hand including, the unfinished repairs, the agent's attitude and that they felt that the agent was hiding something.
I was contacted by the agent and was accused of instructing my clients to to contact her client.
I have no idea what was said to the agent by the asset manager but, I know it wasn't good.
A bit of advice: It is the listing agent's responsibility to handle known issues in a timely manner to protect the client's interest.
All known defects should be disclosed or at least have them repaired if you know of the problem.
It is not wise to send your family member, friend, or plain ole bowling buddy to due repairs on a property when they can't get the job done or have insurance to back them.
Never think that you are untouchable because your client does not reside in the property.
Last but not least, respect your fellow agent. No one appreciates an unprofessional attitude, yelling and screaming, and being curse at because you did not do your job.
I really tried hard to explain to the agent how it appears for your spouse to show up not announced and begin making repairs while the issue was never disclosed. It can really make anyone suspicious as to what else has been hidden and there goes the trust out the window.
By the way, the agent was boasting about being a specialist in foreclosure. A big laugh out really loud.