Fsbo

You can tell a lot about a neighborhood by driving through it. Manicured lawns and well-kept homes indicate pride of ownership. Junk cars parked on overgrown lawns and overturned mattresses at the curb are signs of decay. However, if you rely on these indications alone, you could face a rude awakening when you move in.

Not only will meeting the neighbors give you a good idea of whether you will be compatible, but neighbors will disclose material facts that a seller might conveniently forget.

When Gary and Stephen found their dream home, they were ecstatic. It had everything they wanted, location, space, vintage, updates and a quaint yard. The price was right, too. Shortly after signing the contract, the two men drove over to the vacant home to meet the neighbors on both sides. The neighbors to the west told them the basement floods on a regular basis and seemed perturbed that the sump pump drained water into their yard. The seller’s disclosures did not mention a wet basement.

The neighbors to the east were blatantly hostile. They pointed to the rose bushes that appeared to be growing on the buyer’s property and said they had planted them. Although a fence existed between the two homes, the neighbors on the east said the boundaries were in dispute. They also said, "We smoke like chimneys and plan to sit out on our front porch every night smoking," adding with a smirk, "And there’s nothing you can do about it."

It was clear that the neighbors on both sides of this home had a bone to pick with the existing seller, but Gary and Stephen did not believe they should be the recipient of that ongoing battle. The neighbors’ reaction was enough to cause Gary and Stephen to buy a different home in another neighborhood.

This entry was posted on Tuesday, July 22nd, 2008 at 8:44 am and is filed under FSBO. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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