Do You Need To Disclose Known Projects Of A Neighbor?? - Ep 199

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:

1. There are appropriate questions that need to be answered when you come across a situation like this.
2. It is common courtesy to notify the buyer about certain changes but until it directly involves the subject property, it is not violating anything. 
3. 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 | [phone] | Website | Instagram
• https://jennifermurtland.com/Vault/
• Monica Weakley website | LinkedIn | Facebook
• Real Estate Fight Club Podcast  Facebook page | Instagram | YouTube
• [e-mail] / Jim Camarata  612-562-7461

 

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