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Agree. I once walked away from a very difficult demanding buyer offering $112K for my house & no more - because the kitchen countertops weren't granite & the roof was older. (Beautiful spotless white counters; no roof leaks - just not "new".) This when the market in my n'hood averaged $135-$140K, granite or no granite; older roof; new roof. I did accept the next offer, though, from someone else shortly thereafter at $134K. Best to walk away before accepting a troublesome offer, than after.
This. When we sold our first home and got an offer with any requests for changes to the home we just rejected their offer. If they want to repaint one room soon they'll want new carpet and so on. Really it is if you give a mouse a cookie sort of thing.
True! We were almost scammed by difficult buyers and their realtor. They were making up problems. Turned out, they were trying to drive the price down. I don't know how the appraiser was involved, but he used comps outside of our neighborhood and from homes that were way older-fortunately we had our own done beforehand and it was a $25k difference. They were so greedy, their agent sent over a signed amended contract, which voided the original agreement, this is ultimately how we were able to legally terminate it.
@@KatiSpaniak I’d love your opinion on whether it ever makes sense to walk away from a deal before closing (as a seller) when the buyers are that difficult?
Exactly!!! Con artists from the get go ... Having a family lawyer in your back pocket on contingency??? How many other people have they done this to? Bet that "family lawyer" got a piece of the pie as well.....really needs to be investigated!!!!
We had a cash offer on the table but the buyers were so nasty and difficult to work with, asking for every single item on the inspection to be done including changing a lightbulb that we just told them we wouldn’t sell them our house, to much of a hassle. It was a multiple bid situation so we just went with an offer that was slightly less money but were a pleasure to work with.
Good for you. Been there and done that. I had someone look at my house 3 separate times. They then gave me a lowball 100K below listing price offer. I then told my agent to not even respond to them and not sell to them at ANY PRICE. I eventually sold it to another person at my listing price a week later.
If I was a judge I would rule in the favor of the sellers and make the buyer not only pay their costs to defend but punitive amount on top for using the legal system as a means of extortion.
Yep! But you have to get to court first! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
for sure!! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
We were the couple this happened to. Come to find out these people had a history of doing things like that. We fired the agent who was representing us and hired Kati. She sold our house in 2 weeks for $25,000 more than our previous offer.
Why not countersue the "buyers" and demand they pay for repairs they demanded and/or lock them into the deal where they can't back out? The $5,000 earnest pay seems like chicken feed the scam buyers were more than willing to put up to get back $10,000. Instead, the new more honest buyers got stuck paying an extra $25,000 they shouldn't have.
It was painful for sure! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
The issue is how many years do you want to deal with the nonsense? How many trips from Florida to Illinois are you willing to make? I would never have provided all the documentation and I certainly never would make contact with the buyers personally.
@@KatiSpaniakOh lookie! Another random viewer that knew more (or just TOLD more) than our “expert” realtor giving advice. She was just trying to bolster the myth that realtors are useful/necessary. What load of crap this woman is selling. Why didn’t the sellers realtor know to do it. Already here, 3 realtors, not one was giving good advice. There’s my proof.
@@KatiSpaniakyeah, caught not giving good advice, yet some random Utube viewer did. Busted.! Why, pray tell, miss realty expert, why did you not offer this super obvious advice? Because realtors are know nothing leeches. They could care less. I was in banking and mortgages for 8 years, and construction for 10. Realtors are trash. Period. Out of about 100 I worked with , 2 were decent. The rest would sell their grandmother for a Beemer with leather seats. Fact.
I always believed large groups of smart people would bypass realtors and go straight to the seller. After all anyone can put up there own listing on the "homes for sale" multi list. Isn't that true.? Especially poor people like first buyers and newlyweds.
@@2Jeezuzisreal try to find out how to get on the MLS without a realtor. They make all of it as difficult as possible without flat abolishing it, and of course it is as easy as possible for realtors.
But if the sellers sued the buyers & their agent then is a vicious cycle of stress and negativity which impacts not only them but the collective ( much as snarky comments on TH-cam videos can bring down the whole collective)
Were the windows newer than the home? Meaning, was the house built in 1980 and the windows replaced in say 2000? If so, then they were "newer". Case closed.
By the time it goes to trial, it hinges on how persuasive each side's attorney is, and how much critical thinking members of the jury are capable of. "Jury of your peers" says it all.
@@joshm3342 You'd want a Lawyer smart enough to get it dismissed before trial and why are there not arbitration and/or attorney fee provisions in these contracts??
The windows were never the issue. These buyers were likely to become a problem for whatever reason they liked. My choice may have been to deny having said anything. I doubt seriously anyone can accurately recall casual statements. Things that matter are written.
I had a buyer request an unreasonable amount of work after the inspection. In addition the items were listed on the document in all caps with no line spacing, bullets, or numbers. Nearly impossible to read. Big red flag! I, the seller simply said no! My house was in great shape and I had a reasonable, realistic buyer in less than 24 hours. Heed the red flags.
It sounds like it was obvious that these were difficult buyers from day one. If it were me, as soon as the first red flag popped up, I would have told them that I would accept 100% of the asking price with the house selling "as is" (except any safety concerns). In other words, force the buyer to walk away. This sounds like a scam on the buyer's part from the start.
I think so! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
We had buyers who tried to renegotiate the price the day of closing without any just cause. They simply had cold feet. Thankfully in Texas, the law protects sellers in this situation and their agent pulled them aside and explained that we could sue them if they didn't go through with the closing. It happens. We've bought and sold a lot of houses and learned quickly that if buyers are difficult right out of the gate, it is best to move on at the first opportunity and not work with them.
The sellers considered that but were willing to re list the house and avoid attorney fees. They certainly didn't realize that the buyers could sue them. Ridiculous.
Luckily when I sold my las house my realtor identified the bad buyer quick, and we dumped them like a hot potato. So many demands, I wondered why they even made and offer. The people that actually bought it, made reasonable demands and went through with it with no problems.
This really sounds like a scam! Did anyone investigate the history of these “buyers” to see how many times they have scammed sellers in the past? This is so wrong!
My ex wife (4 year marriage, 7 year divorce) would pull this exact stunt. She sued her friend and neighbor as well as her good "friend" a real estate broker, as well as two different tenants. She loved appearing in court, looking back she loved the power that she wielded. Drop buyers that are too picky as that behavior will be a red flag. It is much more difficult to defend yourself as they enjoy their offensive tactics. These are sociopaths with zero empathy that are looking for targets. It is evil.
Thanks for the heads up, when working with a real estate agent, never use the term new or newer on something, state the year replaced or go with as-is.
This is such sage advice. We had spurious buyers who were dragging us behind the bus during escrow process and asking for money concessions at ever turn. Our home was and is well maintained and the inspection reports pristine. Finally we quit giving them credits each time they “called out an item” and asked for additional credits. We finally told our Realtor, not a penny more. He had a conniption fit. He became abusive about insisting we concede. So we blew up the time clock on the last ‘ask’ thereby vitiating the purchase contract. We were so glad to not only be rid of these grifter like buyers, but the a-hole Realtor as well. We decided to stay in our home and are still here enjoying it to this day!
I was creating a document for selling my home and I used the word newer on my major appliances. I looked up everything, removed newer, and put the exact year. Great advice, Thanks
I've learned in my many years on planet Earth that there are an awful lot of crappy people: dishonesty and bullying abounds and is too often rewarded. NEVER trust anyone you don't know unless you absolutely have to. NEVER assume the law protects you because you are right. Follow the 50-50 rule: Assume half of everyone would cheat you and assume there is a 50-50 chance the law/regulatory agency will not find in your favor. If you do these things, half the time you'll be right.
Our parents had a similar sale where the buyer’s brother was the kind of attorney who gives attorneys a bad name. (The buyer’s agent, a longtime supposed good “friend” of our mother, already knew - due to that “friendship” my parents were under pressure to sell and clearly shared and used that info with the buyer.) The buyer dragged our parents over the coals at every stage - in the initial purchase agreement, the inspection process, even after the inspection list was completely addressed, demanding a price redux, and at closing, demanding yet another price redux for no good reason. In a better situation/market, our parents would have killed the sale. The payback - it is a small town and word got around, trashing the reputation the buyer’s agent… and when the buyer went to do major renovations due to his new infirmity, all the area contractors black-listed him.
Great question. I've had a lot of the same ones. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
That’s actually funny I went through that with someone. So I stopped the sale. Told the real estate agent cancel I reject the entire offer. Turned around and change the price. Went up 20,000. Marked it as is no repairs. Sold To someone else. Comically I got 5000 more. Unreal what people will deal with. Personally you ask for too much you as a seller should immediately back out. From my experience , personal
Great story! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
Well, I'd love to share more about this story... I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
They should of gave them back the earnest money, that was the problem. I, as a seller, ran into the same thing, and the buyers were going to put a lien on my property, so I could not sell it. I just gave them their earnest money back and all was good. They got bad advise from their agents.
Why the hell do they have to give it back. They said they were $5000 in earnest in wanting to buy the home. They saw the home they made the offer. Then they broke there offer /contract. The sellers had to de list thier house to entertain someone who even after seeing the house didn't want to buy. The sellers should have kept it.
Good comment! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
That's how I felt! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
@@Cdlzzl they don't have to give it back, but keeping it can end up costing more in attorney's fees than the amount of the earnest money. Sometimes it's just not worth it to keep it.
I bought a place from an owner realtor. They claimed the carpet was a few years old. Over a decade later I did the floors and found the carpet installers business card under the pad in a bedroom that was dated 18 years before I closed.
I think it would be hard to misrepresent carpeting being a few years old versus maybe 18. This could have been a previous install. Carpet doesn't look that great after 10 years IME
This is awful. I remember difficult people a few years ago when I was selling my house. They low balled me. I reluctantly verbally accepted, and then they came back asking that I pay all of their closing costs. I finally told my agent “absolutely not” and I don’t want to deal with them anymore.
Who could have guesses that someone would really care how old the windows are. You look at them and decide if they are adequate. In an older home things are constantly getting replaced or upgraded throughout the years.
5:09 I was a realtor for 26 years. I've seen many closings where the buyers would be trying to squeeze the sellers out of money right up until the last second. I could write a book about my experiences.
If I were the seller I think I would be doing some checking to see how many times the "buyers" have done this and also look up the lawyer's cases too. Because this sounds like a scam they got going....
That's probably true! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
When the buyers of our ny house kept demanding a lower price for this idem and that idem, we told them the deal is over. We will relist the house for $50,000 more and sell it in less then a week.
Sell 'as is' and that's it. No need to mention ages of anything specifically. I would have sent their solicitor a letter saying that if they proceed past this very point in time with this frivolous claim, you will be countersuing for all costs, your solicitor costs, every single legal cost, every single minute you need to spend compiling your case and attend court hearings etc. Then do that.
As-is doesn't really prevent this. I've had lots of questions about this. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
At an open house, a realtor went down our basement steps and faked a fall while I watched her from top of the steps. She walked back up the steps and sent a letter to our insurance company suing for damages. Our insurance company paid without question. Said it was cheaper to settle than fight it. Pure scam.
You said it right. From personal experience, when you spot a difficult buyer from the beginning during showings or negotiations, it can definitely be a red flag situation. Back away from that buyer if you can. Similar situation in the past. Can't share the details, but it cost real money.
Red FLAGS!!! Don't underestimate it! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
A lot of homes being sold in the past 5 years have been quick flips. People have literally charged double the price of a home a month after buy8ng it and slapping on a coat of paint. If these buyers had enough motive and energy to taje this all the way to court, and the headache that goes with it, i guarantee you there is more to this story than is being told here.
More than happy to share more!! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
Sellers can also say, "I'm not sure". (eg how old the roof is.) Esp if the home has been bought & sold multiple times. Let the buyer's home inspector tell them what's what. In fact, isn't that the point of a home inspection? To clarify potential problems like aging windows & air leaks, before home closing? I don't know, this case, but if a buyer refuses to have an inspection done, then that's their fault - not the seller's. Regardless, this sounds scammy as heck.
Yes. Great point. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
Also….please NEVER allow your agent or the other agent to find you a home inspector! I did this the first time around and found out 6 months later that they added an outlet on the opposite side of my bedroom by running wires under the carpet, among other hazardous issues. Find your own inspector!!!!
So lemme get this straight, buyer plunks down $5k in earnest money, finds out seller misrepresented or made misleading descriptions about some minor details about the property (in writing), buyer now wants a discount (or money to remedy the misrepresentation), seller refuses to play ball or give earnest money back at closing date. Yep, sounds like the buyer actually had a valid legal claim for damages. Seller should have just returned the earnest money to the buyer and washed their hands of them.
Saying something is newer isn't fraud. Windows have a lifespan of 100 years. 8 years old windows are definitely newer than 20 year old windows. Was it the newer type of windows. Calm down people are sue happy and when you have a ambulance chaser lawer for an uncle who sees nothing but dollar signs. It's a shakedown
Why didn't the sellers just release the earnest money to the sellers? That probably would have prevented all of this. Plus, as the realtor, it was your responsibility to communicate the age of the windows. If you wrote "newer* in the description on the listing, that wasn't the sellers fault. If they flat out lie on their disctlosure then that's on them.
There's obviously a lot more to the story than this... but there were a lot of reasons that they didn't release the money. First off... because the buyers walked away from the table.
It would be the realtors fault….describing as newer and not actual age, not the sellers fault but their realtor. That’s why we pay the realtor the big bucks to represent their clients.
Wow, so the initial "buyers" had their $5,000 earnest money stolen and they sued because the sellers didn't disclose correct information. Rather than give the initial "buyes" back their earnest money held by the real estate company they had to sue. Wow
We are in a lawsuit with a buyer of a house we sold to them AFTER both sides had a certified inspector go over disclosing everything in a 50 yr old house. You would think that an inspection would be enough! Same situation….the owner has a family member as their lawyer. Still waiting on that court date.
If this couple had an umbrella policy, would they have been able to turn this “lawsuit” over to the insurance company to let them fight it out? I doubt that the “buyers” would have wanted a fight with the sellers insurance company. Just wondering about the role an umbrella policy might have played in this situation.
Good question. Pretty complicated answer because of the specific situation. Usually the insurance companies will try and settle. However if they suspect that there’s been “fraud” then they won’t. So they couldn’t make that judgment without having all the facts in the case.
From the backstory, it doesn't matter if the seller communicated clearly or not, the buyer would nitpick on something to get that $10,000. He's the villain in "Pacific Heights". He was not there to buy a house. He was there to fleece the seller.
Oh I’d spend 20 or more so they didn’t get 10 and would counter sue for my costs. Maybe write future contracts a little better to protect sellers against ambiguity like this, too.
Saw a few comments that are very negative towards realtors…all I know for sure, MY REALTOR IS AN ANGEL.. I mean that literally. We have become instant friends (she is a positive uplifting influence on my life as well as the collective vibe). She truly cares about her clients… I AM BLESSED
Seems like when writing up a contract, writing in “as is” could possibly keep the nickel and dimeing from happening. When I sold, suddenly I was asked to do this and that. I did what was asked in order to move the transaction along in a timely manner
Is this situation the issue wasn't any contingency, it was that the buyer claimed the seller misrepresented the age of the windows. If the contract says the windows were replaced in 2016, but they were actually replaced in 2009, that could be an issue for some people and it does open the door for this issue to arise. If they simply said "newer windows" as this video implies, that's up to interpretation and they likely would have lost the lawsuit if it went to trial.
I've had a lot of these questions. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
Yep! Agreed! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
I have sold many properties and always use "as is." Have not used the term newer or new. If there is a shingle over, I put the year the "new shingles" were installed, not "new roof." You are correct when a buyer sends up red flags, pay attention.
8 year old windows aren’t “newer”. I think the realtor has some liability here for advertising that. The buyer sounds like an “investor” or a member of certain ethnic groups that are known to be “difficult.” I wouldn’t sell to anyone who wasn’t going to live in the house. I’d countersue for vexatious litigation.
I think the use of "newer" is not helpful. Could mean "newer than house"? In this story, it sounded like the sellers verbally gave age of windows from memory, which the buyers took literally. I like "AS-IS, buyer may inspect, take it or leave it".
100% do a final walk through. I bought a house in Michigan while living in Washington state this in Feb 24. We did our inspection earlier, didn’t drive a hard bargain because we loved the location and the property. 3 prior to close there was a cold snap and I didn’t know the furnace broke. After we closed we found out the pipes froze and were looking at $8000 in repairs that wasn’t expected. Sellers ghosted us in our request to see if they can file a insurnace claim with their prior insurer. We might have to sue them sadly.
I am SO sorry this happened!! I hate to say it but, yes, you always need to do a final walk through right before closing for this exact situation. Literally.. this is what I tell people when they ask why they need to have a final walk through. Ugh. So sorry!!!
I am moving from New York to North Carolina and I am consumed with crippling anxiety. I have not moved in over 20 years and the house I’m buying is a new house…I should be happy but I’m freaking out!!! Since my house is paid off in New York I’m holding onto my home in New York for a few months just in case. Is it normal to be so so so anxious????
Yes. Moving is definitely traumatic. But from someone who just relocated across the country… it will all work out. Homes are meant to be. That’s the truth. And you will figure it out! Just give yourself some time to adjust. Be patient. Homes are meant to be.
Thank you I appreciate the kind words. I have a daughter who is starting college who suffers from severe anxiety so it is just adding to the stress of the move. Thank you again for your videos.@@KatiSpaniak
Why didn’t the inspector point it out to the buyers? Typically verification of ages is not something that agents do. We rely on the information we are given.
Seen this type of scam before....in Houston. If they start nitpicking ....tell them to walk. Also, as-is is the best disclaimer to put in the contract.
This reminds me of an ambulance chaser at my moms clinic. He saw someone had spilled a cup of water and mopped it up, but didn't put down the wet floor sign. Walked up to my mom, who runs the freaking place, and asked if he slipped and fell, would she testify on his behalf to how unsafe the clinic was.
People are nuts! After we sold our house the couple kept calling us and our agent wanting to know why they weren't getting their mail and that "we stole it"! How could we steal it if we didn't live there anymore! Absolutely nuts!
I learned a long time ago to not provide any paperwork I might have regarding anything in a home I'm selling. On the disclosure I am honest to the best of my ability, let the buyer do their due diligence and make their own choices.
So the first house we sold was an old 150 year old farm house with ORIGINAL windows. Second house we built, so windows were the same age as the house (sold at 15 year old). The place we bought we put windows in and were told that now life expectancy of windows are 10 years. Wow! Things have changed. Old house windows lasted 150 years, but new windows only 10? So interesting.
When I sold my house, I didn't write the details for the MLS listing, my realtor did. How is it the seller got sued rather than the realtor? Any sort of wording like that would typically have been written by the realtor, not the seller, wouldn't it?
Great question!! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
The seller is responsible for what the realtor publishes. The seller can tell the realtor to change the details of the listing, or can provide the buyer with corrections before they sign the contract. Failure to do both makes the seller liable.
Read your contracts! Never “assume” anything, in business or in life. Everything is negotiable, until desperation or ignorance kicks in. Commonsense, in today’s society, Has Left The Station .
I do not take listing agreements unless there the seller agrees to check the boxes on the forms for mediation and arbitration before litigation, and I encourage the seller not to consider ANY offer where those boxes are not checked in the purchase agreement. An offeror attempting to sue an offeree, where there is a signed arbitration agreement, without going to arbitration is likely to lose a summary judgement and have to pay fees.
@tman8939 maybe it's higher, idk but thats what it usually is, and I'm not finding out. I built houses for 26 years, no way I'm paying someone thousands of dollars to sell my house, for MAYBE 80 HOURS OF WORK.
@KatiSpaniak no...not really. I got paid 28/hr to frame in the Chicago winters...and summers. Lucky to make 55k/yr. Realtors sometimes make that on one sale, or two or three or four. Hours don't add up, or work put in. Hard pass on giving away my money
Interesting. I saw this happen once over a Pac man arcade game, another time over a plane ticket. If you got money you can do a lot of things to people. Wild.
The buyers would have found another issue to fight for the $10k. I sold a house nearly30 yrs ago and the buyers tried to get a large reduction for lots of minor cosmetic issues their inspector wrote up on a 50 yr old house. Fortunately my attorney protected my by having a clause in the contract that limited my exposure to major structural, electrical and plumbing & heating deficiencies, and in the case of structural or electrical issues a licensed engineer report would be required at the buyer’s cost. They and their attorney hadn’t disputed the clause during the 3-day attorney review period, so they got nothing off the contract price. Back then it was all too common for buyers to try to get $10k-$20k knocked off a $200k house because of lots of minor deficiencies in the inspection report. A friend had the same problem on his house sale but he fixed all the items himself, which pissed off his buyers but couldn’t do anything about it.
Two words...."As-Is" is how I will be selling my home (when I sell). I bought my home as a "Fixer Upper" and after 35 years, I still have not done everything. I plan on letting the next family that buys my home to get a great deal on it. I've done a lot but this home will not be perfect. In my older neighborhood a lot of homes get "flipped" or are sold to first time owners (like I was) and they will want to put their touch on everything...
As a prior agent I used a similar saying when emotions were getting out of control and potentially blowing up the closing. I would say ‘what’s it worth to you to move on with the rest of your life?’ They would weigh getting even against moving on with their plans.
I would always stipulate that I was selling the house “as is” because one can never know what might be discovered after the sellers move in and start tearing it apart to remodel. The other mistake to avoid would be in leaving too much documentation. The sellers in your example were trying to be helpful by leaving receipts and instruction manuals. No good deed goes unpunished.
In Illinois that's not actually what as-is means... Lots of questions about this. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
Wow that was really a bad deal! I recently moved and went through about six months of alot of serious stressful decisions and ended up coming out alot better, especially several months after I moved a large tree fell through my old house. I remember telling my agent that anything worth while is not easy, he agreed. Now I live in the country where it's alot more peaceful and have more breathing room.
When the was buying my house my inspector found a couple of minor things to fix and the seller wrote a nasty note about how he had buyers that showed up after us and he didn’t have to sell to us and he couldn’t believe the list etc. I really didn’t care about the letter as long as he showed up to settlement. Later found out he inherited the house and a couple of fixes he did weren’t finished.
I read that it’s best to get an inspection before you sell so homeowners can attend to the important things and then list the home “as is”. This is “supposed” to prevent buyers negotiating at the last minute and lets the buyers know exactly what the seller is willing to do and not do. Is this a good strategy?
Always keep all receipts on all equipment, appliances, materials for all repairs on your real estate for at least 4 years after you sell the house. The receipts always have the dates.
some sellers are asking ridiculous prices for homes at least here in cali. 600k for a 500 sq feet home on a hill thats a century year old. get your money’s worth and make them fix issues
That's why as a seller it's worth it to meet whoever is putting an offer on your house -- if you don't like them, don't accept their offer. Your real estate agent isn't going to pay the lawsuit.
My #1 rule when dealing with property exchange is if someone threatens to sue you and a deal goes bust, sue them first. Typically it's not hard to find a reason for it. It will work out better versus having to drag it out and countersue later. You can usually agree to a settlement for no exchange of money on either side, but they must agree the issue is close and sign paperwork preventing any further litigation and pay attorney fees. Also, never use terms like "newer," always use exact dates in contracts for zero chance of ambiguous interpretation. Though 8 years old in window terms is definitely newer.
Go on the offensive! I like that!! Here is a follow up video I did on this if you are interested. th-cam.com/video/pzjYsf7sWVQ/w-d-xo.htmlsi=ePqxrxoOOSQ33j5g
Never put down earnest money. It's that simple. Make an offer, explain there will be no earnest money and go from there. Standard 3-4% of selling cost towards closing costs for buyers. Just get back to normal standard home buying.
@@bettysmith4527 I call bs on that. If I make an offer on paper it's serious. That simple. Everything else is games and pandering to nonsensical practices.
Basic contract law- offer if accepted then it's a valid contract- offer then change conditions of the offer is not a valid contract- when ever you change one item of the contract it no longer is a valid contract- I'll buy your house for 500,000- fine valid contact- I'll buy your house for 500,000- fine, also deduct 10,000 for the less than new windows, NO- and no valid contact
If I were the sellers I would have responded to their proposed settlement by saying "OK, we will accept your $10,000 settlement, this is wise of you because when the judge hears about this frivolous lawsuit you have filed not only will you have to pay my countersuit for punitive and emotional damages but my attorneys fees as well and we were prepared to fight this as long as it takes, I want a check within one week or we will refuse this settlement and take it to court!"
It is called Errors and Omissions Insurance from the Real Estate agent. It sucks but that is what I pay the Real Estate agent for to ensure situations like this do not happen. So, I would have taken them to court and then regardless of win/lose, filed a claim against the agents errors and omission insurance form my attorney fees.
When I purchased my home in 2018 I was told the house had all new windows but I have later found out from the neighbor that they were purchased from a re-use it center and were definitely defective. So far 4 windows won't stay open in the up position so I have to use sticks to prop them up. I had a really good home inspector who tested every window and they worked fine at the time but the seller followed along the whole time and when I look back he was on pins and needles probably hoping the windows wouldn't crash to the sill when opened. Beware folks even with a good home inspector you can get burned.
Yes. That's true! I'll be talking about this today! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
This is a scam. The buyers were never going to buy the house, but they are doing this to various home owners. Unless this is the exact case I think it is (Restoration Home if I recall) this is at least the second time I hear about this.
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#1 Rule: Don't engage with difficult people
Red flags for sure!
Agree. I once walked away from a very difficult demanding buyer offering $112K for my house & no more - because the kitchen countertops weren't granite & the roof was older. (Beautiful spotless white counters; no roof leaks - just not "new".) This when the market in my n'hood averaged $135-$140K, granite or no granite; older roof; new roof.
I did accept the next offer, though, from someone else shortly thereafter at $134K. Best to walk away before accepting a troublesome offer, than after.
This. When we sold our first home and got an offer with any requests for changes to the home we just rejected their offer.
If they want to repaint one room soon they'll want new carpet and so on. Really it is if you give a mouse a cookie sort of thing.
True! We were almost scammed by difficult buyers and their realtor. They were making up problems. Turned out, they were trying to drive the price down. I don't know how the appraiser was involved, but he used comps outside of our neighborhood and from homes that were way older-fortunately we had our own done beforehand and it was a $25k difference. They were so greedy, their agent sent over a signed amended contract, which voided the original agreement, this is ultimately how we were able to legally terminate it.
Number one rule in life!
This almost sounds like the buyers were looking for a reason to scam the sellers.
That is what it seemed like... and they won.
That's what it seems like to me
@@KatiSpaniak I’d love your opinion on whether it ever makes sense to walk away from a deal before closing (as a seller) when the buyers are that difficult?
The amount of money they got was not worth the effort, but as the lady said, they were emotional about it, and could not let it go.
Exactly!!! Con artists from the get go ...
Having a family lawyer in your back pocket on contingency??? How many other people have they done this to? Bet that "family lawyer" got a piece of the pie as well.....really needs to be investigated!!!!
I bet the buyers were seasoned professionals at this sham.
I think they were!! I'm hosting a live Q&A today at 4:30 CST to answer all of the questions if you want to join! th-cam.com/users/livenBdRPDaAr5Y
My thoughts exactly…one must wonder how many Sellers fell victim to,these scam artists
That lawyer who brought the case should be brought up on charges of helping pull a scam
And I think could have been done
Not a scam if it goes through the legal processes
I wish!! That would have been justice!
You are naive. Litigation is often a tool of scammers.@@eile4219
@@eile4219wrong. The sellers paid to stop the money drain. Buyers had a free attorney (family) sellers had to pay their attorney. This was a scam!!!
We had a cash offer on the table but the buyers were so nasty and difficult to work with, asking for every single item on the inspection to be done including changing a lightbulb that we just told them we wouldn’t sell them our house, to much of a hassle. It was a multiple bid situation so we just went with an offer that was slightly less money but were a pleasure to work with.
So important to work with people you like!
Good for you. Been there and done that. I had someone look at my house 3 separate times. They then gave me a lowball 100K below listing price offer. I then told my agent to not even respond to them and not sell to them at ANY PRICE. I eventually sold it to another person at my listing price a week later.
@@jjman533 Good for you!!!!!
Peace of mind is priceless
Probably did your old neighbors a huge service by doing so
If I was a judge I would rule in the favor of the sellers and make the buyer not only pay their costs to defend but punitive amount on top for using the legal system as a means of extortion.
Yep! But you have to get to court first! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
That judge played a part in the scam!
The thing to learn here is to stop the deal much, much earlier in the process when dealing with people so clearly not acting in good faith.
for sure!! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
We were the couple this happened to. Come to find out these people had a history of doing things like that. We fired the agent who was representing us and hired Kati. She sold our house in 2 weeks for $25,000 more than our previous offer.
Good thing you knew me!! What comes around goes around!!
Why not countersue the "buyers" and demand they pay for repairs they demanded and/or lock them into the deal where they can't back out?
The $5,000 earnest pay seems like chicken feed the scam buyers were more than willing to put up to get back $10,000.
Instead, the new more honest buyers got stuck paying an extra $25,000 they shouldn't have.
This was a scam from the start. They didn't HAVE to pay, they CHOSE to pay to make them go away. They should have stood their ground and counter sued.
It was painful for sure! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
SO STRESSFUL!! Sorry you went through this as well! @@adambarras6566
The issue is how many years do you want to deal with the nonsense? How many trips from Florida to Illinois are you willing to make? I would never have provided all the documentation and I certainly never would make contact with the buyers personally.
@@KatiSpaniakOh lookie! Another random viewer that knew more (or just TOLD more) than our “expert” realtor giving advice. She was just trying to bolster the myth that realtors are useful/necessary. What load of crap this woman is selling. Why didn’t the sellers realtor know to do it. Already here, 3 realtors, not one was giving good advice. There’s my proof.
Unfortunately between judgement and justice is a huge difference. In fact the two are not related in the justice system whatsoever.
Counter-sue for harassment and extortion for way more than $10k. Name the “buyer” and their lawyer personally.
I like this!
@@KatiSpaniakyeah, caught not giving good advice, yet some random Utube viewer did. Busted.! Why, pray tell, miss realty expert, why did you not offer this super obvious advice? Because realtors are know nothing leeches. They could care less. I was in banking and mortgages for 8 years, and construction for 10. Realtors are trash. Period. Out of about 100 I worked with , 2 were decent. The rest would sell their grandmother for a Beemer with leather seats. Fact.
I always believed large groups of smart people would bypass realtors and go straight to the seller. After all anyone can put up there own listing on the "homes for sale" multi list. Isn't that true.? Especially poor people like first buyers and newlyweds.
@@2Jeezuzisreal try to find out how to get on the MLS without a realtor. They make all of it as difficult as possible without flat abolishing it, and of course it is as easy as possible for realtors.
But if the sellers sued the buyers & their agent then is a vicious cycle of stress and negativity which impacts not only them but the collective ( much as snarky comments on TH-cam videos can bring down the whole collective)
Were the windows newer than the home? Meaning, was the house built in 1980 and the windows replaced in say 2000? If so, then they were "newer". Case closed.
Now THIS is the answer that should have been used!!!
What were the life expectancy of those windows, that should be considered for the area.
By the time it goes to trial, it hinges on how persuasive each side's attorney is, and how much critical thinking members of the jury are capable of. "Jury of your peers" says it all.
@@joshm3342 You'd want a Lawyer smart enough to get it dismissed before trial and why are there not arbitration and/or attorney fee provisions in these contracts??
The windows were never the issue. These buyers were likely to become a problem for whatever reason they liked. My choice may have been to deny having said anything. I doubt seriously anyone can accurately recall casual statements. Things that matter are written.
I had a buyer request an unreasonable amount of work after the inspection. In addition the items were listed on the document in all caps with no line spacing, bullets, or numbers. Nearly impossible to read. Big red flag! I, the seller simply said no! My house was in great shape and I had a reasonable, realistic buyer in less than 24 hours. Heed the red flags.
For sure!!
It sounds like it was obvious that these were difficult buyers from day one. If it were me, as soon as the first red flag popped up, I would have told them that I would accept 100% of the asking price with the house selling "as is" (except any safety concerns). In other words, force the buyer to walk away. This sounds like a scam on the buyer's part from the start.
Yes!!! A set up for sure ....
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I think so! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
We had buyers who tried to renegotiate the price the day of closing without any just cause. They simply had cold feet. Thankfully in Texas, the law protects sellers in this situation and their agent pulled them aside and explained that we could sue them if they didn't go through with the closing. It happens. We've bought and sold a lot of houses and learned quickly that if buyers are difficult right out of the gate, it is best to move on at the first opportunity and not work with them.
Thank you! And it's good to know the laws of your state or have an Attorney.
The sellers considered that but were willing to re list the house and avoid attorney fees. They certainly didn't realize that the buyers could sue them. Ridiculous.
Luckily when I sold my las house my realtor identified the bad buyer quick, and we dumped them like a hot potato. So many demands, I wondered why they even made and offer. The people that actually bought it, made reasonable demands and went through with it with no problems.
This really sounds like a scam! Did anyone investigate the history of these “buyers” to see how many times they have scammed sellers in the past? This is so wrong!
They heard that they were not always on the up and up after this transaction failed.
My ex wife (4 year marriage, 7 year divorce) would pull this exact stunt. She sued her friend and neighbor as well as her good "friend" a real estate broker, as well as two different tenants. She loved appearing in court, looking back she loved the power that she wielded. Drop buyers that are too picky as that behavior will be a red flag. It is much more difficult to defend yourself as they enjoy their offensive tactics. These are sociopaths with zero empathy that are looking for targets. It is evil.
Wow! For sure there are many evil people!!
Sort of like that liberal judge that’s taking Trump’s properties. The evil is so deep.
Thanks for the heads up, when working with a real estate agent, never use the term new or newer on something, state the year replaced or go with as-is.
You are welcome!
I vote for "everything is as is not a new home"
If I was sued like this I would sue every one involved.
This is such sage advice. We had spurious buyers who were dragging us behind the bus during escrow process and asking for money concessions at ever turn. Our home was and is well maintained and the inspection reports pristine. Finally we quit giving them credits each time they “called out an item” and asked for additional credits. We finally told our Realtor, not a penny more. He had a conniption fit. He became abusive about insisting we concede. So we blew up the time clock on the last ‘ask’ thereby vitiating the purchase contract. We were so glad to not only be rid of these grifter like buyers, but the a-hole Realtor as well. We decided to stay in our home and are still here enjoying it to this day!
I always believe things are meant to be with a home!! Thanks for sharing!
I was creating a document for selling my home and I used the word newer on my major appliances. I looked up everything, removed newer, and put the exact year. Great advice, Thanks
So glad it helped!!!
I've learned in my many years on planet Earth that there are an awful lot of crappy people: dishonesty and bullying abounds and is too often rewarded. NEVER trust anyone you don't know unless you absolutely have to. NEVER assume the law protects you because you are right. Follow the 50-50 rule: Assume half of everyone would cheat you and assume there is a 50-50 chance the law/regulatory agency will not find in your favor. If you do these things, half the time you'll be right.
Interesting perspective. I'll think about this one!
Our parents had a similar sale where the buyer’s brother was the kind of attorney who gives attorneys a bad name.
(The buyer’s agent, a longtime supposed good “friend” of our mother, already knew - due to that “friendship” my parents were under pressure to sell and clearly shared and used that info with the buyer.)
The buyer dragged our parents over the coals at every stage - in the initial purchase agreement, the inspection process, even after the inspection list was completely addressed, demanding a price redux, and at closing, demanding yet another price redux for no good reason.
In a better situation/market, our parents would have killed the sale.
The payback - it is a small town and word got around, trashing the reputation the buyer’s agent… and when the buyer went to do major renovations due to his new infirmity, all the area contractors black-listed him.
I do believe what comes around goes around!!!
Why wouldn't they list the house As Is? And wouldn't that negate demands like this
Great question. I've had a lot of the same ones. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
That’s actually funny I went through that with someone. So I stopped the sale. Told the real estate agent cancel I reject the entire offer. Turned around and change the price. Went up 20,000. Marked it as is no repairs. Sold To someone else. Comically I got 5000 more. Unreal what people will deal with. Personally you ask for too much you as a seller should immediately back out. From my experience , personal
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further proof that once there is a real problem the realtors are nowhere to be seen.
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Exactly my thought. Shouldn't the agents work these things out for their clients??? Do your job, don't just count your commission.
They should of gave them back the earnest money, that was the problem. I, as a seller, ran into the same thing, and the buyers were going to put a lien on my property, so I could not sell it. I just gave them their earnest money back and all was good. They got bad advise from their agents.
Why the hell do they have to give it back. They said they were $5000 in earnest in wanting to buy the home. They saw the home they made the offer. Then they broke there offer /contract. The sellers had to de list thier house to entertain someone who even after seeing the house didn't want to buy. The sellers should have kept it.
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That's how I felt! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
@@Cdlzzl they don't have to give it back, but keeping it can end up costing more in attorney's fees than the amount of the earnest money. Sometimes it's just not worth it to keep it.
I bought a place from an owner realtor. They claimed the carpet was a few years old. Over a decade later I did the floors and found the carpet installers business card under the pad in a bedroom that was dated 18 years before I closed.
That could have been a previous installer, and the guys who put that carpet in were too lazy to get rid of it, but thats def a bad sign.
Ugh! That’s rough!
I think it would be hard to misrepresent carpeting being a few years old versus maybe 18. This could have been a previous install. Carpet doesn't look that great after 10 years IME
This is awful. I remember difficult people a few years ago when I was selling my house. They low balled me. I reluctantly verbally accepted, and then they came back asking that I pay all of their closing costs. I finally told my agent “absolutely not” and I don’t want to deal with them anymore.
What comes around goes around. Right?
Unbelievable! And such ashame...I hope the sellers hear about the karma that will come along for those lousy buyers!
YES!
Who could have guesses that someone would really care how old the windows are. You look at them and decide if they are adequate. In an older home things are constantly getting replaced or upgraded throughout the years.
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Because double-pane windows don't last and the older they are the more likely they will blow, fill with gas, and fog up.
5:09 I was a realtor for 26 years. I've seen many closings where the buyers would be trying to squeeze the sellers out of money right up until the last second.
I could write a book about my experiences.
Yep! I see this ALL THE TIME!
If I were the seller I think I would be doing some checking to see how many times the "buyers" have done this and also look up the lawyer's cases too. Because this sounds like a scam they got going....
I'm sure it was a few times!!!
As soon as the people suing came forward willing to "settle" that means their legal advice was to because they weren't going to win.
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When the buyers of our ny house kept demanding a lower price for this idem and that idem, we told them the deal is over. We will relist the house for $50,000 more and sell it in less then a week.
Sell 'as is' and that's it.
No need to mention ages of anything specifically.
I would have sent their solicitor a letter saying that if they proceed past this very point in time with this frivolous claim, you will be countersuing for all costs, your solicitor costs, every single legal cost, every single minute you need to spend compiling your case and attend court hearings etc.
Then do that.
As-is doesn't really prevent this. I've had lots of questions about this. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
At an open house, a realtor went down our basement steps and faked a fall while I watched her from top of the steps. She walked back up the steps and sent a letter to our insurance company suing for damages. Our insurance company paid without question. Said it was cheaper to settle than fight it. Pure scam.
That is a TERRIBLE story!! I am so sorry that happened to you!!
I dont know in US, but in my country a suit like this would be called BS very quickly and the buyer could receive a fine for abusing the system
Not in the US!!
Only in America, the sue country of the world!! Moronic judges!!
You said it right. From personal experience, when you spot a difficult buyer from the beginning during showings or negotiations, it can definitely be a red flag situation. Back away from that buyer if you can. Similar situation in the past. Can't share the details, but it cost real money.
Red FLAGS!!! Don't underestimate it! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
A lot of homes being sold in the past 5 years have been quick flips. People have literally charged double the price of a home a month after buy8ng it and slapping on a coat of paint. If these buyers had enough motive and energy to taje this all the way to court, and the headache that goes with it, i guarantee you there is more to this story than is being told here.
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I’m about to sell my home and this is a scary tale. With my luck I’ll probably get the same kind of buyer! Ughhh
Thank you for warning us.
Just watch for red flags!
Sellers can also say, "I'm not sure". (eg how old the roof is.) Esp if the home has been bought & sold multiple times. Let the buyer's home inspector tell them what's what. In fact, isn't that the point of a home inspection? To clarify potential problems like aging windows & air leaks, before home closing?
I don't know, this case, but if a buyer refuses to have an inspection done, then that's their fault - not the seller's. Regardless, this sounds scammy as heck.
Yes. Great point. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
Also….please NEVER allow your agent or the other agent to find you a home inspector!
I did this the first time around and found out 6 months later that they added an outlet on the opposite side of my bedroom by running wires under the carpet, among other hazardous issues.
Find your own inspector!!!!
I wonder if the sellers had released the earnest money in the beginning, would this have made a difference? IDK, just asking
I don’t think so. He changed his mind about the home and I think it was a stick up.
The seller had crap representation guiding them! They called the buyer’s bluff and “found out!” Lmao. Good job buyers!
So lemme get this straight, buyer plunks down $5k in earnest money, finds out seller misrepresented or made misleading descriptions about some minor details about the property (in writing), buyer now wants a discount (or money to remedy the misrepresentation), seller refuses to play ball or give earnest money back at closing date. Yep, sounds like the buyer actually had a valid legal claim for damages. Seller should have just returned the earnest money to the buyer and washed their hands of them.
Saying something is newer isn't fraud. Windows have a lifespan of 100 years. 8 years old windows are definitely newer than 20 year old windows. Was it the newer type of windows. Calm down people are sue happy and when you have a ambulance chaser lawer for an uncle who sees nothing but dollar signs. It's a shakedown
Hindsight is 20/20
If I was the seller, I would have sued my agent. Great video, thank you for posting.
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Why didn't the sellers just release the earnest money to the sellers? That probably would have prevented all of this. Plus, as the realtor, it was your responsibility to communicate the age of the windows. If you wrote "newer* in the description on the listing, that wasn't the sellers fault. If they flat out lie on their disctlosure then that's on them.
There's obviously a lot more to the story than this... but there were a lot of reasons that they didn't release the money. First off... because the buyers walked away from the table.
Here in East TN is is common to use the term "newer" in property listings. Buyers have responsibility to investigate any detail.
It would be the realtors fault….describing as newer and not actual age, not the sellers fault but their realtor. That’s why we pay the realtor the big bucks to represent their clients.
This story gives my heart burn as I get ready to place my home on the market next spring.
Yep!
Subscribe to this platform!!!! Good luck!! 🍀
Mine goes lon next week.
Wow, so the initial "buyers" had their $5,000 earnest money stolen and they sued because the sellers didn't disclose correct information. Rather than give the initial "buyes" back their earnest money held by the real estate company they had to sue. Wow
Excellent video. No difficult buyers. Anyone that picky is looking for trouble.
Thank you!! YEP! Agreed!
We are in a lawsuit with a buyer of a house we sold to them AFTER both sides had a certified inspector go over disclosing everything in a 50 yr old house. You would think that an inspection would be enough! Same situation….the owner has a family member as their lawyer. Still waiting on that court date.
I'm so sorry to hear that! Hope everything goes well for you
If this couple had an umbrella policy, would they have been able to turn this “lawsuit” over to the insurance company to let them fight it out? I doubt that the “buyers” would have wanted a fight with the sellers insurance company. Just wondering about the role an umbrella policy might have played in this situation.
Good question. Pretty complicated answer because of the specific situation. Usually the insurance companies will try and settle. However if they suspect that there’s been “fraud” then they won’t. So they couldn’t make that judgment without having all the facts in the case.
Dont think an umbrella policy covers personal contracts like this.
From the backstory, it doesn't matter if the seller communicated clearly or not, the buyer would nitpick on something to get that $10,000. He's the villain in "Pacific Heights". He was not there to buy a house. He was there to fleece the seller.
Totally!!
Oh I’d spend 20 or more so they didn’t get 10 and would counter sue for my costs. Maybe write future contracts a little better to protect sellers against ambiguity like this, too.
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Saw a few comments that are very negative towards realtors…all I know for sure, MY REALTOR IS AN ANGEL.. I mean that literally. We have become instant friends (she is a positive uplifting influence on my life as well as the collective vibe). She truly cares about her clients… I AM BLESSED
AWWWW... thank you for posting this! There are some really good agents out there. So glad you found one that you love!!
Seems like when writing up a contract, writing in “as is” could possibly keep the nickel and dimeing from happening. When I sold, suddenly I was asked to do this and that. I did what was asked in order to move the transaction along in a timely manner
Exactly when I sell my home I'm going to repair the bare-assed minimum to sell it
As is or nothing
Is this situation the issue wasn't any contingency, it was that the buyer claimed the seller misrepresented the age of the windows. If the contract says the windows were replaced in 2016, but they were actually replaced in 2009, that could be an issue for some people and it does open the door for this issue to arise. If they simply said "newer windows" as this video implies, that's up to interpretation and they likely would have lost the lawsuit if it went to trial.
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Ok!
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I have sold many properties and always use "as is." Have not used the term newer or new. If there is a shingle over, I put the year the "new shingles" were installed, not "new roof." You are correct when a buyer sends up red flags, pay attention.
Yep. Pay attention!
8 year old windows aren’t “newer”. I think the realtor has some liability here for advertising that. The buyer sounds like an “investor” or a member of certain ethnic groups that are known to be “difficult.” I wouldn’t sell to anyone who wasn’t going to live in the house. I’d countersue for vexatious litigation.
You are a mo ron
I think the use of "newer" is not helpful. Could mean "newer than house"? In this story, it sounded like the sellers verbally gave age of windows from memory, which the buyers took literally. I like "AS-IS, buyer may inspect, take it or leave it".
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100% do a final walk through. I bought a house in Michigan while living in Washington state this in Feb 24. We did our inspection earlier, didn’t drive a hard bargain because we loved the location and the property. 3 prior to close there was a cold snap and I didn’t know the furnace broke. After we closed we found out the pipes froze and were looking at $8000 in repairs that wasn’t expected. Sellers ghosted us in our request to see if they can file a insurnace claim with their prior insurer. We might have to sue them sadly.
I am SO sorry this happened!! I hate to say it but, yes, you always need to do a final walk through right before closing for this exact situation. Literally.. this is what I tell people when they ask why they need to have a final walk through. Ugh. So sorry!!!
I am moving from New York to North Carolina and I am consumed with crippling anxiety. I have not moved in over 20 years and the house I’m buying is a new house…I should be happy but I’m freaking out!!! Since my house is paid off in New York I’m holding onto my home in New York for a few months just in case. Is it normal to be so so so anxious????
Yes!
Yes. Moving is definitely traumatic. But from someone who just relocated across the country… it will all work out. Homes are meant to be. That’s the truth. And you will figure it out! Just give yourself some time to adjust. Be patient.
Homes are meant to be.
Thank you I appreciate the kind words. I have a daughter who is starting college who suffers from severe anxiety so it is just adding to the stress of the move. Thank you again for your videos.@@KatiSpaniak
@@amyk8188 hang in there. From a mom on five daughters… I know how hard that can be with the anxiety!!
Thank you😊@@KatiSpaniak
I learned years ago in the car business to send difficult buyers down the road, they're not worth the hassle!!!!
Truth!
Why didn't the sellers agent know that there's a date on the window?
Sounds like they might not have been a very experienced agent.
Or the buyers agent?
Why didn’t the inspector point it out to the buyers? Typically verification of ages is not something that agents do. We rely on the information we are given.
@@KatiSpaniak that sounds like passing the buck... Did the inspector write the property description?
Seen this type of scam before....in Houston. If they start nitpicking ....tell them to walk. Also, as-is is the best disclaimer to put in the contract.
It happens everywhere! Check out my video where I dive more into as-is th-cam.com/users/live2jCrZerBJqg?feature=share
This reminds me of an ambulance chaser at my moms clinic.
He saw someone had spilled a cup of water and mopped it up, but didn't put down the wet floor sign.
Walked up to my mom, who runs the freaking place, and asked if he slipped and fell, would she testify on his behalf to how unsafe the clinic was.
Yes. Some people are just like this. Unethical.
And enjoy making other people squirm ....their reason to get out of bed everyday ...
That's why honest disclosures are so important.
Absolutely!
People are nuts! After we sold our house the couple kept calling us and our agent wanting to know why they weren't getting their mail and that "we stole it"! How could we steal it if we didn't live there anymore! Absolutely nuts!
Oh my! Crazy story!
I learned a long time ago to not provide any paperwork I might have regarding anything in a home I'm selling. On the disclosure I am honest to the best of my ability, let the buyer do their due diligence and make their own choices.
Good thinking! Thanks for commenting
Sad any judge would go for this.
So the first house we sold was an old 150 year old farm house with ORIGINAL windows. Second house we built, so windows were the same age as the house (sold at 15 year old). The place we bought we put windows in and were told that now life expectancy of windows are 10 years. Wow! Things have changed. Old house windows lasted 150 years, but new windows only 10? So interesting.
When I sold my house, I didn't write the details for the MLS listing, my realtor did. How is it the seller got sued rather than the realtor? Any sort of wording like that would typically have been written by the realtor, not the seller, wouldn't it?
Great question!! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
The seller is responsible for what the realtor publishes. The seller can tell the realtor to change the details of the listing, or can provide the buyer with corrections before they sign the contract. Failure to do both makes the seller liable.
Read your contracts! Never “assume” anything, in business or in life. Everything is negotiable, until desperation or ignorance kicks in.
Commonsense, in today’s society, Has Left The Station .
I do not take listing agreements unless there the seller agrees to check the boxes on the forms for mediation and arbitration before litigation, and I encourage the seller not to consider ANY offer where those boxes are not checked in the purchase agreement.
An offeror attempting to sue an offeree, where there is a signed arbitration agreement, without going to arbitration is likely to lose a summary judgement and have to pay fees.
Thanks for your comment! I know many agents who do that for both buyer and seller ease in the sale.
Selling for more money means NOT having to pay a percentage to a realtor. 3-5% is ridiculous.
that % is low. where I am at, 6%-10% in Colorado
@tman8939 maybe it's higher, idk but thats what it usually is, and I'm not finding out. I built houses for 26 years, no way I'm paying someone thousands of dollars to sell my house, for MAYBE 80 HOURS OF WORK.
It's all relative... but the industry is definitely changing.
@KatiSpaniak no...not really. I got paid 28/hr to frame in the Chicago winters...and summers. Lucky to make 55k/yr. Realtors sometimes make that on one sale, or two or three or four. Hours don't add up, or work put in. Hard pass on giving away my money
Interesting. I saw this happen once over a Pac man arcade game, another time over a plane ticket. If you got money you can do a lot of things to people. Wild.
Yep. Or a cousin who is an attorney!
sometimes having peace is better than being right choose your hard.
It's all about choosing your battles wisely!
The buyers would have found another issue to fight for the $10k. I sold a house nearly30 yrs ago and the buyers tried to get a large reduction for lots of minor cosmetic issues their inspector wrote up on a 50 yr old house. Fortunately my attorney protected my by having a clause in the contract that limited my exposure to major structural, electrical and plumbing & heating deficiencies, and in the case of structural or electrical issues a licensed engineer report would be required at the buyer’s cost. They and their attorney hadn’t disputed the clause during the 3-day attorney review period, so they got nothing off the contract price. Back then it was all too common for buyers to try to get $10k-$20k knocked off a $200k house because of lots of minor deficiencies in the inspection report. A friend had the same problem on his house sale but he fixed all the items himself, which pissed off his buyers but couldn’t do anything about it.
Thank you for your comment. I'm glad you were able to get that worked out
Two words...."As-Is" is how I will be selling my home (when I sell). I bought my home as a "Fixer Upper" and after 35 years, I still have not done everything. I plan on letting the next family that buys my home to get a great deal on it. I've done a lot but this home will not be perfect. In my older neighborhood a lot of homes get "flipped" or are sold to first time owners (like I was) and they will want to put their touch on everything...
Thanks for your comment! I do address as-is in this video: th-cam.com/users/live2jCrZerBJqg?feature=share
As a prior agent I used a similar saying when emotions were getting out of control and potentially blowing up the closing. I would say ‘what’s it worth to you to move on with the rest of your life?’ They would weigh getting even against moving on with their plans.
Truth! Most agents know that emotions can get strong and in the way. Thanks for your comment!
I would always stipulate that I was selling the house “as is” because one can never know what might be discovered after the sellers move in and start tearing it apart to remodel. The other mistake to avoid would be in leaving too much documentation. The sellers in your example were trying to be helpful by leaving receipts and instruction manuals. No good deed goes unpunished.
I've learned to walk away from difficult people in negotiations. Also, for the buyers, life has a way of exacting it's revenge for stuff like this.
TRUTH! Thanks for your comment!
I sold my house as is. No joke my buyer wanted all kinds of stuff I just kept repeating as is get your inspector.
Thanks for your comment! I see that a lot!
What I learned from this transaction is that it's better to burn your house than sell it.
Don't say or declare anything. House is sold "as is". What you see is what you get. The buyer can do their own inspection.
In Illinois that's not actually what as-is means... Lots of questions about this. I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
Wow that was really a bad deal! I recently moved and went through about six months of alot of serious stressful decisions and ended up coming out alot better, especially several months after I moved a large tree fell through my old house. I remember telling my agent that anything worth while is not easy, he agreed. Now I live in the country where it's alot more peaceful and have more breathing room.
Good for you!!
When the was buying my house my inspector found a couple of minor things to fix and the seller wrote a nasty note about how he had buyers that showed up after us and he didn’t have to sell to us and he couldn’t believe the list etc. I really didn’t care about the letter as long as he showed up to settlement. Later found out he inherited the house and a couple of fixes he did weren’t finished.
I'm sorry you had to go through that! Thank you for commenting!
I read that it’s best to get an inspection before you sell so homeowners can attend to the important things and then list the home “as is”. This is “supposed” to prevent buyers negotiating at the last minute and lets the buyers know exactly what the seller is willing to do and not do. Is this a good strategy?
The buyers should be charged with extortion and fraud. That's what it is.
Always keep all receipts on all equipment, appliances, materials for all repairs on your real estate for at least 4 years after you sell the house. The receipts always have the dates.
Do NOT leave any receipts, brochures or anything with the house when selling.
some sellers are asking ridiculous prices for homes at least here in cali. 600k for a 500 sq feet home on a hill thats a century year old. get your money’s worth and make them fix issues
That's why as a seller it's worth it to meet whoever is putting an offer on your house -- if you don't like them, don't accept their offer. Your real estate agent isn't going to pay the lawsuit.
My #1 rule when dealing with property exchange is if someone threatens to sue you and a deal goes bust, sue them first. Typically it's not hard to find a reason for it. It will work out better versus having to drag it out and countersue later. You can usually agree to a settlement for no exchange of money on either side, but they must agree the issue is close and sign paperwork preventing any further litigation and pay attorney fees. Also, never use terms like "newer," always use exact dates in contracts for zero chance of ambiguous interpretation. Though 8 years old in window terms is definitely newer.
Go on the offensive! I like that!! Here is a follow up video I did on this if you are interested. th-cam.com/video/pzjYsf7sWVQ/w-d-xo.htmlsi=ePqxrxoOOSQ33j5g
Never put down earnest money. It's that simple. Make an offer, explain there will be no earnest money and go from there. Standard 3-4% of selling cost towards closing costs for buyers. Just get back to normal standard home buying.
What problem does this solve?
I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
No seller will take you seriously without Ernest money!!
@@bettysmith4527 I call bs on that. If I make an offer on paper it's serious. That simple. Everything else is games and pandering to nonsensical practices.
Ok, then, LOL GOOD LUCK buying a home with no Ernest money then!! @@Man_of_TheWay
Basic contract law-
offer if accepted then it's a valid contract-
offer then change conditions of the offer is not a valid contract-
when ever you change one item of the contract it no longer is a valid contract-
I'll buy your house for 500,000- fine valid contact-
I'll buy your house for 500,000- fine, also deduct 10,000 for the less than new windows, NO- and no valid contact
If I were the sellers I would have responded to their proposed settlement by saying "OK, we will accept your $10,000 settlement, this is wise of you because when the judge hears about this frivolous lawsuit you have filed not only will you have to pay my countersuit for punitive and emotional damages but my attorneys fees as well and we were prepared to fight this as long as it takes, I want a check within one week or we will refuse this settlement and take it to court!"
Well... I don't think they had the stamina to continue... It was very painful.
It is called Errors and Omissions Insurance from the Real Estate agent. It sucks but that is what I pay the Real Estate agent for to ensure situations like this do not happen. So, I would have taken them to court and then regardless of win/lose, filed a claim against the agents errors and omission insurance form my attorney fees.
When I purchased my home in 2018 I was told the house had all new windows but I have later found out from the neighbor that they were purchased from a re-use it center and were definitely defective. So far 4 windows won't stay open in the up position so I have to use sticks to prop them up. I had a really good home inspector who tested every window and they worked fine at the time but the seller followed along the whole time and when I look back he was on pins and needles probably hoping the windows wouldn't crash to the sill when opened. Beware folks even with a good home inspector you can get burned.
Yes. That's true! I'll be talking about this today! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y
I wonder if those “buyers” are busy setting some one else up?
Could have been!
This is a scam. The buyers were never going to buy the house, but they are doing this to various home owners. Unless this is the exact case I think it is (Restoration Home if I recall) this is at least the second time I hear about this.
Yes. I could see that!! I'm hosting a live Q&A today at 4:30 EST to answer all of the questions about this video if you want to join! th-cam.com/users/livenBdRPDaAr5Y