Tuesday, September 11, 2007

Shhhh - It's a Secret

I was curious about whether there had been any flooding of a pretty well-known and recently renovated house in Woodstock. Which one really doesn't matter, and I have no interest in harming the reputation of the house or its owner, who has moved out-of-state.

I called the listing agent and left a message, asking if there had been flooding or sewer back-up. Now, this is a pretty simple question, and it is definitely one to which a listing agent should know the answer. Every real estate agent in the area, before showing any house, is going to ask (or had better ask) whether there was flooding.

Imagine my surprise, when the listing agent did not even extend the courtesy of returning my call. I had identified myself fully and also indicated that I was not a prospective buyer. Maybe this agent is just too busy with all the many back-to-back showings that every real estate agent is experiencing in Woodstock's red-hot housing market. Yeah, sure.....

Then I called that listing agent's managing broker. Think she would admit to knowing the answer? Absolutely not. In fact, she would not even agree to finding out. She said there was nothing in the listing file to indicate the answer. When I asked if that meant there had been no flooding in the house, she said it did not mean that. I was reminded of the not-so-popular "Don't ask. Don't Tell" policy. She said there was nothing in the file to indicate whether or not there had been flooding at that address. Then she (in the Crystal Lake office) had the gall to tell me to call a couple of Woodstock real estate agents and ask them. Well, who would they call to find out? The very same real estate office of the manager to whom I was speaking!!!

Then I called a in Woodstock. When he called me back, I asked if he knew about any flooding at the property in question and he didn't. When I asked whether a listing agent was obligated to find out whether there had been any flooding or resulting damage, he said the requirement to find out was really loose in the real estate code.

Apparently, once a listing is written, an agent isn't required to keep it up-to-date. If the property is damaged after it is listed, the Seller will eventually have to disclose it and the agent doesn't have any liability to inquire about it. I find that really hard to believe.

It is, however, one more very good reminder of Caveat Emptor - buyer beware!

Oh, yes; the answer about the property in question? I asked a neighbor about that property on September 11. She said there had been some very serious pumping of water out of the basement of that house. So, yes; there was flooding. And the house is not on the City of Woodstock report.

No comments: