The (GREC) website also states occasionally, a seller asks a real estate licensee to offer a property for sale in “As Is” condition. Sometimes that request simply reflects the seller’s desire not to have to repaint a structure or to accomplish other basically cosmetic repairs. However, sometimes that request reflects the seller’s desire not to be responsible for known material defects in the property. Using such language as “This property is sold as is” in a sales contract will probably not relieve the seller and the licensee from responsibility for material defects. If such language relieves liability at all, it is likely to be only for those defects which the buyer already knows about or which are so obvious that a quick visual inspection of the property would make them apparent to the buyer. Do not expect such “As Is” language to cover less obvious material defects or those which the seller or licensee have not specifically identified for the buyer. If litigation later arises over unknown defects, the courts are not likely to allow such “As Is” language to relieve the seller and/or the agent of liability.
How about the agents disclosing information to their clients? Most sellers and buyers usually rely and depend on their Realtor’s or their brokerage for referrals and guidance on lenders, home inspectors, contractors, insurance providers, appraisers, home warranties, closing attorney’s, just among the few resources needed from contract to close on a home. Clients depend on us to provide them with good, honest and quality leads. We call them our “Preferred Vendors”. However, business relationships are formed and sometimes people profit from the referrals and leads of the preferred vendors. Is this a good thing? Is it a bad thing? All depends on how you look at it and if it was disclosed by your Realtor.
Business relationships are developed every day and that is how work is accomplished. Sometimes these business arrangements work because of just the relationship & accountability alone. Other times “Preferred Vendors” pay to be part of a company’s success or potential success. Preferred vendors can pay office space to be in the proximity of all the agents in the group for easy access to the agents. Preferred vendors also help offset advertising and support the marketing efforts of many successful agents. The most important thing for an agent to do is discuss this with both the seller and buyer they are representing during a transaction if that buyer or seller chooses to work with your preferred vendor. This gives them the option to determine if they want to do further research on other vendors they need from contract to close instead of just relying on the agent alone. If an agent doesn’t disclose this information it can be perceived that the agent was referring the preferred vendor just to pad his/her own wallet or the company’s wallet. You are never required to use any of the preferred vendors and always welcomed to look for other resources to facilitate the transaction on your home. However, you will be presented with an “Affiliated Business Disclosure” to sign in most cases, regardless if you use the preferred vendors or not.
Usually an agent or well named real estate company has weeded through the people (both agents & preferred vendors) who take advantage of the system or just don’t do a good job with our clients. Realtors are not only in the business of marketing to sell your home or assist in the purchase of a home but we are in the service industry. Over the years we have found out who does the best in each field that supports a real estate transaction from contract to close. We are the know all’s and the end all’s of this business. You need a loan, we know a lender! You need a roofer, there is this girl I know she is the best! Everything from Lawn service to burglar alarms & termites, from moving companies and temporary housing to pressure washing just call your Realtor. As a professional Realtor we have done a lot of the homework for you and are here to provide you with the professional services you need from start to finish not only from us but we have a team of “preferred vendors” standing by as well to make this the easiest and best real estate transaction you will ever go through.
To reeach Rodney Camren please call (404) 375-1496 or email rodney@starteamatlanta.com.
Visit http://www.starteamatlanta.com for more information. Facebook: https://www.facebook.com/StarTeamAtlanta?fref=ts
