estate agents horror stories

A major theme is miscommunication. Agents may not pass on offers or messages between buyers and sellers accurately. I know of a situation where an agent told the seller a much lower offer than what the buyer actually made. This led to a lot of confusion and the deal almost fell through. Also, there can be issues with unethical behavior like pressuring clients into making quick decisions without giving them enough time to think.

Sure. One horror story is when an estate agent lied about the condition of a property. They said there was no water damage, but after the buyer moved in, they found a huge mold problem in the basement that cost a fortune to fix.

I had an agent who was clearly more interested in making a quick sale than in my needs. He kept pushing me to buy a property that had obvious structural problems. When I pointed them out, he downplayed them and said it was a 'great deal' that I shouldn't pass up. He also didn't disclose all the fees involved until I was about to sign the contract.

Ask for references from the agent. A good agent will be able to provide a list of past clients who can vouch for their honesty and professionalism. And don't be afraid to call those references and ask detailed questions.

I've heard of agents who pressure clients into signing contracts right away without giving them enough time to read and understand all the terms. This can lead to clients getting stuck in unfavorable deals. Also, there are agents who don't do proper market research. They list a property at a price that's either way too high or too low, which can be a big problem for the seller or buyer respectively.

Some real estate agents might offer special Christmas - themed open houses. They decorate the properties with Christmas lights and ornaments to make them more inviting. This can attract more potential buyers during the holiday season.

There was an estate sale where the house was said to be in good condition. However, when buyers started exploring, they found that the attic was full of rats. Some of the furniture in the attic had been chewed up badly. It was really a nightmare for those who were interested in buying the furniture or the house itself. They had to deal with potential pest problems and the damaged goods.

In some life estate situations, there can be disputes over who pays for major repairs. The life tenant may not want to spend money as they won't benefit from the long - term value of the property, and the remainderman can't force them easily. It often leads to a deteriorating property and lots of arguments between the parties involved. This is a common and quite a 'horror story' in the context of life estates.

A common horror story is issues with the title. For example, there were unexpected liens on the property. The closing couldn't happen until these were sorted out. It involved a lot of legal wrangling between the parties and the title company. The buyer was left in limbo, not knowing if they would actually get the property they had been planning to buy.

One horror story is when an appraiser underestimated the value of a house due to a simple mistake in measuring the square footage. The owners were trying to sell and based on the low appraisal, they had to lower their asking price significantly, losing out on a lot of potential profit.