Son bought a house. Agent showed him the fabulous backyard he has "access" to. All the room he could "utilize", so nice that it was all fenced in.
Showed to him, his friends and his mother. The agent never said he would only get the middle part of the fenced in area. The agent never said, you only get this much, those other parts belong to X and X.
Son was 22 at the time. They rushed him through the close, including the person who closed him on the paperwork in less that 20% of the time it normally takes.
The ordinance person comes out and said he needed to do this and that to move in.
Neighbor asked my son what he was doing? He explained what the city wanted him to do to bring the property up to code so he can move in. They stopped him!
Explained he did not own that part of the property and the other side even though it was all fenced in as one piece of property. So turns out he bought what nobody else would buy when told the truth because the property was split up.
The agency could not sell the property with the land all split up. So since it was fenced it was sold as a property with accessible acreage all fenced in together. That's how the agent wanted it perceived and it worked. My young inexperienced son did not catch the little hints, like words "access" and "utilize". He just seen the fence in 3 acres and thought it was all his.
Now do not get me wrong, my son is smart. Had great credit at a very young age. Did it all on his own. So i think he would have got words like, "your property is in the middle" "you do not get the property on either side of the house"."this is 3 acres, you only get one".
I'm sure the rest of the people there would have got the distinction between 1 acre your, 2 acres not yours in this fenced in are. Or maybe "this fenced in three acres is not all for sale"."you get this middle part" i think someone would have got it.
They found the a young, first time buyer with a very experienced agent, who failed to sell the property in the past when other people were shown the property and told the truth.
The neighbor even had to tell a couple the land was split up, the realtor had not told them, so they left. The neighbor told my son that.
And
0 comments