"Notice from governmental agencies" checked on disclusure...
Hello, all. We just put in an offer on a property and everything looks good BUT on the disclosures, under the "other" section, this was marked YES:
"Have you received any notices by any governmental or quasi-governmental agencies affecting this property?"
I asked the realtor what it was about and he hasn't answered it yet, though I've gotten an email and one message from him since asking what it was.
Inspection is scheduled, offer is written and the owner likes it, but . . . is this something to be concerned about? We have no idea at all of what it could be.
Most Popular Reply
@Constancia R. STOP.
Do not spend another dime on this property until that question is answered.
It could be something as simple as an outstanding fine for an overgrown lawn or as disastrous as environmental contamination leaching into a public water supply.
In other words, it could be a liability of $10.00 or $10M.
If the Realtor is representing the seller, tell him that unless you have a written answer within the next 6 hours, consider this as my formal withdrawal of my offer dated XX/XX/XX. If you have not yet handed over your EMD, I wouldn't do it now.
This is the reason you as a buyer should have a Realtor representing you as your buyer's broker. A sharp buyer's agent wouldn't let the seller's agent get away with this kind of malfeasance.