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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Foreclosure disclosure not required of agents. Posted by Ward-CA- on December 31, 2001 at 7:56 PM In Reply to: Disclosure posted by Troy on December 31, 2001 at 3:20 PM : Ward, I trust you had a great Christmas celebration, and I wish you a Happy and Safe New Year. : I've got a question for you. If a real estate agent has listed a pre-foreclosure home for sale, do they have to disclose that the home is in default? Obvioulsy I know they would not want to, but somewhere along the line I heard that an agent had to disclose this. The reason why they had to escapes me now, but I remember I read that most agents don't want to list homes in default b/c of the disclosure accountabilities that came with it. =•=•=•=•=•=•=•=•=•=•=•= Troy, we had a very nice Christmas and New Year Holiday, thanks for your wishes. I don’t think an agent is required to disclose that a property she has listed is in default. Such information doesn’t go to the issue of the physical condition of the property. An ongoing foreclosure doesn’t interfere with any of the normal safeguards regarding a property’s inspection and the disclosure of any known negative property conditions and shortcomings. The agents I know who prefer not to work with properties in foreclosure do so because of their concerns that such a condition brings with it a higher chance for possible litigation, and many agents just don’t want to work in such a problematic atmosphere. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, I trust you had a great Christmas celebration, and I wish you a Happy and Safe New Year. : : I've got a question for you. If a real estate agent has listed a pre-foreclosure home for sale, do they have to disclose that the home is in default? Obvioulsy I know they would not want to, but somewhere along the line I heard that an agent had to disclose this. The reason why they had to escapes me now, but I remember I read that most agents don't want to list homes in default b/c of the disclosure accountabilities that came with it. : =•=•=•=•=•=•=•=•=•=•=•= : Troy, we had a very nice Christmas and New Year Holiday, thanks for your wishes. : I don’t think an agent is required to disclose that a property she has listed is in default. Such information doesn’t go to the issue of the physical condition of the property. An ongoing foreclosure doesn’t interfere with any of the normal safeguards regarding a property’s inspection and the disclosure of any known negative property conditions and shortcomings. : The agents I know who prefer not to work with properties in foreclosure do so because of their concerns that such a condition brings with it a higher chance for possible litigation, and many agents just don’t want to work in such a problematic atmosphere. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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