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Ask your agent for the listing history of the home before you purchase – Tips for Macomb County MI home buyers

October 25th, 2010 · 1 Comment · macomb county mi real estate market, tips for home buyers

One of the features that I really find helpful in our MLS systems (Mirealsource™ and Realcomp II ™) is a listing history for each home on the market.   If a home has been on the market before (records going back to about 1997) there will be a history of it.

When a buyer client is interested in a home I always peek at the listing history.  Not so much looking for price reductions and previous sales, but for the “scoop” that can be discovered that may not otherwise be disclosed.

Case in point:  I took a buyer client to view a home in one of the northern Macomb County townships last week.  The home had all the tell tale signs of recently being a “fix and flip” home.  (Purchased recently cheaply, then fixed up and flipped by an investor).   In many cases this can be a good purchase for a buyer, as most of the cosmetic or mechanical issues have been addressed.

This home had all the bells & whistles that buyers would love:    Updated kitchen and bath, new carpet, freshly painted, etc.  Gorgeous home upon viewing, and not out of line in their pricing.

However, (you knew that was coming!) when I took a peek at the listing history something was revealed that wasn’t in the new listing documentation for either an agents view or a buyers view:   The previous listing of the home (less than a year ago) clearly stated to enter at your own risk, as there was severe “mold like” problems in the house as well as an unsafe bedroom floor.

Why wasn’t this disclosed to agents and their buyers in the new listing? Because it didn’t have to be disclosed.  Ah.  There’s the rub.  If I put my home on the market I would have to disclose if there were any past or present problems like this with my home.  This home however was purchased by an investor, who never lived in the home, therefore is exempt from disclosure.  Even though this investor purchased the home in the “enter at your own risk” condition, he did not have to disclose any of this.

I called the agent that has the home listed and asked if there were any documents that could be shared with me and my buyer client regarding the remediation of the mold (how it was cleaned, whether there were any air quality tests recently, who did the cleaning, etc) and I never heard back from the agent.

Needless to say my buyer client passed on purchasing this home.

A heads up to potential home buyers:   Ask your buyers agent to run a listing history of the home. It’s a simple thing to do, and even though this issue rarely comes up, you wouldn’t want to be surprised to find out something after you’ve purchased your home.

~Kris Wales~  Ask me about buyers agency in Macomb County MI
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1 response so far ↓

  • 1 Victor // Oct 28, 2010 at 2:08 pm

    You guys and gals must shake your heads at all the things you see.

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