Remember "time is of the essence" when dealing in real estate. To ensure a valid contract, make sure all parties have signed! Return phone calls promptly, to clients and other agents.
DOCUMENT, DOCUMENT, DOCUMENT! This is the most important thing you can do. Keep that paper trail, especially if you feel something is not right.
Today, I had an agent in my office ask what to do if you are worried about drug manufacturing in a home. I gave her a pamphlet with a number to call, and told her what I would do. She is a fairly new agent and will do well in real estate, she never hesitates to ask questions.
I had a house listed that I knew the occupants did drugs, he had been on tv court. My buyers had a small child, I suggested an inspection of the home for drug manufacturing. I got the information needed and told them it would be $500.00 for the test. They declined. I typed up a letter and had them sign off that I offered an inspection to them. Did I over react? I don't think so. You never know what will come back to haunt you. I hope the home is safe, and it probally is, but you can never be too careful.
The same goes for the Lead Base Paint Addendum, MAKE SURE YOU GET IT SIGNED! Anything we can do to lower our liability is a plus! Use the FHA Home Inspection on all transactions, even cash! That is the one document buyers sign before I write the contract.
There are all sorts of ways to leave a paper trail, keep copies of everything you fax, write on the front of your file folders things that were said. A year later it is hard to remember, but if you write it down you have it!
Taking care of business is a must in our professtion!
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All of these things need to be done for sure, Mary. Good advice for all.
Mary, I've never dealt with a drug factory, but I'd be concerned about the current occupant's old customers coming back wanting to buy! Also, it would give me pause about the neighborhood in general. Often, it's not just one bad house. Food for thought!
Great advice. A paper trail and proper documentation is a must today.
Good Post!
Mary,
Thanks so much for the pamphlet you gave me today! I went over it with my client today and she was greatful.
You are always helping me I owe you one or maybe ten!!!
Barbara,
Thanks for the response.
Patricia,
There is a drug problem in the United States, it knows no boundaries, it affects all classes of people. I didn't say the home was a drug factory, only that I had knowledge (he was in court on tv) that they did drugs. The home was in a great neighborhood, there are meth labs in million dollar homes. Meth is a problem, everywhere. We need to be informed, unless we live under a rock.
Michael,
Thanks for the response. We do need to be informed and we need to document when needed. Have a great week.
Jennifer,
Glad I could help, you owe me nothing, just pass it on! Thanks!