It amazes me that buyers and buyer’s agents don’t sit down and write their own addendum to the Seller Disclosure Form. In the hot market it likely would have scared the seller, and lost you the house in mulitple offers. But this is a Buyer’s Market! Where are the changes as we shift from seller’s market to buyer’s market?
My number one piece of advice for buyers and buyer’s agents today would be to supplement the Seller Disclosure Forms with some REAL questions you would like answered by the seller.
You know the forms at best run up the middle between seller’s interests and buyer’s interests. You know the forms are geared to “a smooth transaction” and closing for the agents and all parties. So why do you accept their questions on the form as being all you need to ask and know?
I’ve written a skazillion posts over the last three years on what buyers need to know that no one tells them. Not the seller. Not the agent. Not the home inspector. Why not put these questions in as an addendum to the things you want the seller to tell you?
Recent comments from Jerry the Seller who wants to keep the buyer’s Earnest Money, are the impetus for this post this morning. Read the comments of Jerry the Seller and weigh in…should the buyer get their Earnest Money back…or should Jerry get to keep it?
Be smart buyers!!! Write down the questions YOU want answered, and make the offer contingent on your getting and reviewing those answers. Don’t merely rely on the questions someone else deemed “enough” for you to know.