 Posted 2/18/2008 8:12:44 PM
|
|
|
|
| A couple from Canada, looking for a California vacation house, just gave me a non-refundable $500.00 U.S. deposit with an "intent to make an offer." They had to return to Canada to confer with their financial rep and accountant before presenting the offer to me. I signed their agreement, which states that if I receive another offer before they submit theirs within three weeks, I am to notify them of the amount so that they will have three days to offer a higher amount. Here is the problem: they spent a good deal of time looking at our house and asking questions. Just before they gave me the $500.00 and their proposal to sign, they asked if we had ever had any problems with the house. I said that we had not. After the transaction, and when they were on their way home to Canada, I realized that we have had two under-the-slab-leaks which required involving our insurance company. In fact, the leak in 2005 resulted in a brand new kitchen and dining room floor. I just honestly completely forgot about the leaks, or I would have told them! I'm new at playing realtor! My question is this: should I e-mail them and explain that I forgot, or should I wait until the part that we have to make our Disclosures?
|
|
|
Posted 2/23/2008 2:44:16 PM
|
|
|
|
| This is the first time I've sold by owner, but my suggestion would be to contact them as soon as possible with the information. Especially since some money has already exchanged hands and they did ask the appropriate question before leaving to go home. I would probably contact them via email to let them know you need to discuss something with them and then do the rest in person or by phone. I would probably offer to refund the "non-refundable" deposit if they are unhappy with the new information. It's best to treat others the way you will want to be treated with any new home purchases you make in the future! Good luck.
|
|
|
Posted 4/8/2008 11:54:44 AM
|
|
|
|
Fill out the disclosures and contact them immediately to let them know you honestly forgot until now. This will save you down the road from being sued over negligence. Also, make sure that there are no other existing latent defects, or they will also come back to haunt you! Good luck!
Venus Jackson
Long & Foster Real Estate, Inc.
North East, MD 21901
(443) 907-7849
|
|
|
|