Do You Need To Disclose Known Projects Of A Neighbor?? - Ep 199
On this episode of the Real Estate Fight Club, Jenn, and Jim Camarata are addressing the topic of, “Do You Need To Disclose Known Projects Of A Neighbor?” Is it an ethics violation when you don't? And what kind of questions can help you identify if this directly involves the transaction?
Tune in and find out!
Episode Highlights:
- Jenn addresses the scenario of which it's about disclosure projects from neighbors.
- Jim talks about Article Two and what it says
- Jim now explains the situation. The seller notified the listing agent that the neighbor was putting up a fence in the property line. The question is: Is there a moral, ethical, or legal obligation to notify the property buyer that a fence is going up on the property line?
- Jennifer says that it is a courtesy to tell the buyers that the fence is going up the neighbor's property.
- Jim gives us probing questions that can help with a situation like this.
- Jim agrees that it is more of a courtesy issue rather than an ethics issue.
- When the buyer disagrees with the fence and asks to get out of the contract because of it, your response would be to ask for legal advice since it’s a legal issue.
3 Key Points:
- There are appropriate questions that need to be answered when you come across a situation like this.
- It is common courtesy to notify the buyer about certain changes but until it directly involves the subject property, it is not violating anything.
- When there is new information, over-sharing the information is not a bad thing.
Tweetable Quotes:
- “I think it's a courtesy to tell to notify the other agent because it does change something changes, right?” - Jennifer Murtland
- “Personally, I think over sharing the information is not a bad thing. I think you should do that.” - Jennifer Murtland
- “I said it's more of a courtesy issue than anything else. Is it really ethics? No. Is it violating anything about disclosing? No, it's on the neighbor's property, not the subject.” - Jim Camarata
Resources Mentioned:
- Jenn Murtland LinkedIn | Facebook | (513) 400-1691 | Website | Instagram
- https://jennifermurtland.com/Vault/
- Monica Weakley website | LinkedIn | Facebook
- Real Estate Fight Club Podcast Facebook page | Instagram | YouTube
- Jimcamarata@kw.com / Jim Camarata 612-562-7461
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