About Morrow County, OH

Yesterday I once again had a conversation with a buyer who called about seeing one of my listings and once we had the appointment set, she very hesitantly asked "I don't know if this is appropriate or not, but can you show me other homes too?"

I assured her that her question was absolutely appropriate and I appreciated her asking. We then had a short conversation about our MLS memberships, how we Realtors "co-op" with each other and how we receive compensation.

It still surprises me that buyers often (maybe even usually) think that they have to find a listing they like and then work with the listing agent by "default". I believe that, as an industry, we haven't done a good enough job of educating the public on how our business works.

I thought this video might be another way of trying to reach out to the public to explain our business and how we work with buyers. I know it's certainly not a "glamour shot" video but I think it gets the point across.

Bloggers note: I have cut this text below from a larger email I received from Inman’s Daily Real Estate News dated February 23, 2012. The reason I cut and pasted this is that as I read the question, it reminded me of how letigious a society we have become. This buyer (Carrie) for some reason thinks that the bank that used to own a foreclosed home that she bought (for a sizeable discount most probably) should somehow be held responsible for hidden defects to the property. Let’s remember people … as with all things in life … “You Get What You Pay For”.

Those that take advantage of other’s misfortune and “get a steal of a deal” often end up with more than they bargained for. And I’m not just talking about real estate. I just came from a Grand Jury Indictment proceeding where a young man paid far below fair market value for some firearms. Guess what? That person is now to be prosecuted for receiving stolen property. He got more than he bargained for didn’t he?

If it seems like it might be too good to be true, it probably is. Too many Americans need to wake up and accept responsibility for their actions. Don’t be so quick to blame others for your greed, laziness, or stupidity.

OK, I’ve jumped back down off my soapbox.

DEAR BARRY: We bought a foreclosed home, as is, from a bank. When we removed the old carpet, we found large cracks in the slab, leading to costly foundation problems. The contractor who repaired the foundation found evidence of previous foundation repairs that were done incorrectly.

We searched the county records and found that this older work had been done without a permit. Is the bank that sold us the properly liable for not disclosing this problem? –Carrie

DEAR CARRIE: Banks are exempt from disclosure laws because, in most cases, they are unfamiliar with the homes they acquire through foreclosure.

If you had bought the home from a private party, that person might have had knowledge of the substandard foundation repairs and would have been required to provide disclosure. In your case, the bank was probably unaware of the problem and could not have provided disclosure.

Unfortunately, some banks take advantage of the disclosure loophole by avoiding information that they might have to disclose. For example, if you had hired a home inspector and had then decided not to buy the property, the bank would probably not have requested a copy of the report.

Without having seen the report, the bank could maintain plausible deniability with other buyers.

In search of an honest man

Similar to Diogenes’ search for an honest man, homeowners want someone to do quality repairs at a fair price. The task appears reasonably easy but if you’ve ever tried to locate someone to fix something, you know just how difficult it is.

Finding a list of companies from a phone book doesn’t mean they’ll be reasonable and reliable, it just means they have a phone and are willing to pay for an ad. Searching on the Internet may direct you to a website that appears to be a local company but really is a marketing company who will sell the lead to a repairman or company who will pay a referral fee.

There are consumer organizations like Angie’s list who rate repairmen and contractors but they usually require an annual membership fee to be able to access the information. There are also services like Renovation Experts or Service Magic that are registries for contractors but they may not be the most competitively priced.

Your best recommendations are going to come from friends, family and neighbors you trust who have actually used the repairmen before and would use them again. The problem here is that you might have to make multiple calls before you can find a friend who can recommend the type contractor you need.

Repairs are a normal part of selling homes and we certainly come in contact with lots of contractors. This experience leads us to understand who is reputable and reasonable as well as who to avoid. As part of our commitment to helping you be a better homeowner from the time you buy your home until you sell it, we’re more than happy to make a recommendation of good repairmen or other professionals you might need. Give us a call…we want to help.

What's the VALUE of my home in Morrow County? What is VALUE anyway? How do we judge VALUE?