It is my understanding that when an agent represents a seller, it is his or her legal and moral obligation to explain all terms and conditions of an offer, so that the seller can make an informed decision about the offer. It is not appropriate or ethical that the listing agent impede the sale in any way, either by creating an acrimonious atmosphere, or more importantly, by not explaining to the seller critical financial issues.
Following is the chronology of my very unpleasant situation:
Ms Adams did not disclose to the seller all of the details of my offer. I offered $4,500 over the asking price to cover the cost of the Nehemiah Program. I asked the seller pay $4,000 in closing costs, provide a 2-10 Home Buyers Warranty and provide a copy of the seller's disclosure statement. There are also several repairs that need to be made to the property.
Ms. Adams faxed my agent and myself a signed contract, accepting all of these stipulations. But when the addendum with the final contract was delivered it stated that the seller would not make any repairs.
During the contract review there were numerous discrepancies on half of the six contract copies. There were two totally different versions of the same contract.
I asked on numerous occasions for the Covenants of the HOA. I received approximately 150 pages of information, but two pages where missing, specifically the ones highlighting repairs covered by the HOA. Upon receiving the missing pages I became aware that the required FHA repairs were not covered by the HOA as Ms. Adams had previously stated were covered.
Additionally, upon speaking with the HOA Management Company a Mr. R.C. Shanks informed me that for the last year the HOA has been in discussions over a special assessment to cover a retaining wall deficiency on the South end of the property. Ms. Adams could have contacted Mr. Shanks and he would have explained this situation to her.
Finally, the closing had to be postponed due to the lack of communication on Ms. Adams part. The Seller, Mary Beth Murphy had explained to Ms. Adams that there was a Security Deed on the title and that the Seller had lost contact with that person that owned it. If Ms. Adams had of informed the Closing Attorney ahead of time we would have closed on time and not caused more undue stress.
I believe that had the seller correctly understood the terms of the offer to begin with, the seller would have understood the financial consequences and agreed to make the necessary repairs. As a result of Ms. Adams actions, I purchased a home in need of repairs with perhaps an additional monthly assessment. The terms of the original contract that were initially agreed upon changed because of Ms. Adams lack of communication, lack of disclosure and unethical behavior.
Tracy
Atlanta, Georgia
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