Selling House and Failed Septic Inspection

[NorTracNY]

I get that. But typically the commission is 6% on a real estate deal. The agent splits that with the other agent and other two brokers, so he gets about 1.5%, more or less. On a $500,000 sale that is $7500. So, for that much money, one would expect that the agent would be looking out for your best interest.

Sorry for your experience, but you have to realize the ethics in realistate is poor at best. I had a family member advise me a little before buying my first house. He used to be in the business, but actually got out because he couldn't stand the lack of ethics. Our first agent actually got us into a horrible situation with a deal that went bad. After WE, not the agent, got through with that, she called us up to tell us about another place. She was selling it, but she was telling us how she knew she could get the price down. She was supposed to be representing the sellers, but was telling us how she knew she could talk them down!

We then went it alone and had the next place's selling agent not accept our legal contract, because we weren't agents! She rewrote the contract in her handwriting to present to her client. Of course she screwed up some parts of it. You know things are bad when the BEST people we delt with were the attorneys!

 

[Travelover]

Sorry for your experience, but you have to realize the ethics in real estate is poor at best. ....

Sigh, I knew this going it, but I guess hope lives eternal.

 

[KYErik]

I agree that many real estate agents are shady- but my biggest issue is with the power of the home inspector. A few years ago, I sold my house in KY. A buyer made an offer and I accepted. The buyer had a home inspection and the house "failed" and the buyer pulled out. I was shocked, so the real estate agent gave me a copy of the inspection report (which was marked confidential- for buyers eyes only). The home inspector stated in the report that the floor joists were 24" on center and thus the home was structurally unsound. None of the floor joists were over 16" apart!! So word got around to all of the real estate agents that my home was "structurally unsound" . After a few months with no bites, I ended up changing to an "as is" listing and selling at a big discount to a different buyer (and for about 20% less than the original accepted offer).

I wanted to turn the inspector in to some sort of licensing agency for incompetence, but since the inspection report was confidential, I didn't have the right to view the report in the first place- and by that time, my home was already on the "black list".

 

[Travelover]

I agree that many real estate agents are shady- but my biggest issue is with the power of the home inspector. A few years ago, I sold my house in KY. A buyer made an offer and I accepted. The buyer had a home inspection and the house "failed" and the buyer pulled out. I was shocked, so the real estate agent gave me a copy of the inspection report (which was marked confidential- for buyers eyes only). The home inspector stated in the report that the floor joists were 24" on center and thus the home was structurally unsound. None of the floor joists were over 16" apart!! So word got around to all of the real estate agents that my home was "structurally unsound" . After a few months with no bites, I ended up changing to an "as is" listing and selling at a big discount to a different buyer (and for about 20% less than the original accepted offer).

I wanted to turn the inspector in to some sort of licensing agency for incompetence, but since the inspection report was confidential, I didn't have the right to view the report in the first place- and by that time, my home was already on the "black list".

Wow, that would make me furious. I kind of felt this way with the septic inspector - he has zero skin in the game on my side and while I'd concede that the septic field ain't what it was when new, we've never had any trouble with it. And with no meddling from the county, I'd have the lines extended and use another lower cost alternative. I'm still holding my breath to see what the county soil engineer decides I need to spend to make him happy.

 

[teejk]

I agree that many real estate agents are shady- but my biggest issue is with the power of the home inspector. A few years ago, I sold my house in KY. A buyer made an offer and I accepted. The buyer had a home inspection and the house "failed" and the buyer pulled out. I was shocked, so the real estate agent gave me a copy of the inspection report (which was marked confidential- for buyers eyes only). The home inspector stated in the report that the floor joists were 24" on center and thus the home was structurally unsound. None of the floor joists were over 16" apart!! So word got around to all of the real estate agents that my home was "structurally unsound" . After a few months with no bites, I ended up changing to an "as is" listing and selling at a big discount to a different buyer (and for about 20% less than the original accepted offer).

I wanted to turn the inspector in to some sort of licensing agency for incompetence, but since the inspection report was confidential, I didn't have the right to view the report in the first place- and by that time, my home was already on the "black list".

When you look at that entire corrupt industry you will find a network of real estate agents, lawyers and home inspectors that "collude". A not so funny story goes back to when I bought that NY house. We came back after an overseas assignment and the relocation company referred us to the agent. Being totally strangers to the area we had no choice. She in turn hooked us up with a "buddy" lawyer. As it turned out the lawyer should not have had a law license at all but that was only apparent when we tried to sell it 9 years later and learned that neither one bothered to look at the town records for house size/septic size/proper permits for improvements, etc.). Fuel oil still holds a strong-hold in that area and the convention was to bury the tank to save room in the basement. The lawyer fixated on that buried tank and ordered leak tests before we closed. He found a "buddy" testing company that concluded that the tank was leaking. Seller had to pay for the tank removal and "soil remediation". I was there when the tank got pulled and recall seeing a perfectly sound steel tank with one exception...it was a perfect hole that could only come from a .22 long-rifle that I'm sure was not there until he got involved.

 

[hawkeye08]

When we sold our first home, the agents tried everything, my wife was a former real estate agent and knew the tactics. We held our ground on many items, such as the buyer wanting to move in early before actual closing, to covering additional closing (agents screwed up). Agents had to cover several hundred $$ that they made mistake on.

 

[coffeeman]

The county might approve or disapprove but the state might be able to over rule the county's decision. Find out the rules and the process. The two Soil Scientists involved with our situation could only do so much regarding the county inspector since said inspector could cause them lots of problems. The Soil Scientists could not come right out and say that the inspector was incompetent and ignorant. I could say it, but chose not too, and let the state inspector tell the county inspector, in a polite way, that the county inspector did not know what he was doing.

Later,
Dan

My township inspector says, "Some question me and go to higher authority. They find out I was easier and it's too late." I think if deciding to sell
it might make sense to run dye test yourself before listing and pumping tank just in case. If something wrong you have a shot of fixing without
government BS.

Cheers....Coffeeman

 

[Travelover]

My township inspector says, "Some question me and go to higher authority. They find out I was easier and it's too late." I think if deciding to sell
it might make sense to run dye test yourself before listing and pumping tank just in case. If something wrong you have a shot of fixing without
government BS.

Cheers....Coffeeman

Ironically, when I initially talked to my RE agent before listing with him, I asked point blank if I should have a well and septic inspection before I listed. He advised against it, which in hindsight was poor advise. That was in April. Here I am in December scrambling to try to get a perk test done with 8" of snow falling and a January 6 closing date.

 

[Opti-Mist]

I would add appraisers to the list. Our last sale lost a bunch of money due to an appraisal that ignored differences between our home and his comps which lacked many of the things we had added to the property. Needless to say the buyer did not want to pay the agreed price when the appraisal came in thousands less. Like the lousy home inspector, above, you are stuck with both as they become part of the history of the property. Oh, yeah, the comps were sold by an agent who was hurrying to get her upcoming wedding paid for by lowballing the listings. She's not had another listing in that neighborhood.

 

[Deere Dude]

Ironically, when I initially talked to my RE agent before listing with him, I asked point blank if I should have a well and septic inspection before I listed. He advised against it, which in hindsight was poor advise. That was in April. Here I am in December scrambling to try to get a perk test done with 8" of snow falling and a January 6 closing date.

Where we lived in WI a septic system test had to be done as part of the buyers offer, in other words, very current. I could have done a septic test then 3 months later turn around and do another one. I think you did it in the right sequence, it just bit you in the rear.

If I was a buyer and was paying close to asking price, I wouldn't split any cost for a septic system. But, he will get as you will, the best deal to be had for both parties. PS, realtors suck.