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Real Estate News And Advice
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November 26, 2009
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Response To: |
Is This Upset Buyer Naive or Cunning?
(Blanche Evans - 11/21/2000)
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Aldana was poorly handled!
Posted By: d_garza@remax.net - 11/21/2000 03:26 PM
Being a Texas license agent, Mr. Ugwa when he began talking and showing Mrs Aldana about property and the cost of it should have handed out form TAR 043 which explains about broker/agency relationships and services and it has a place at the bottom of the form for the buyer to sign acknowledging that they have recieved this information. This is Texas law period! Just handing out this form I feel is not enough, he should have made it clear that any property that he or his brokerage had listed for sale, that he was representing the seller. Even to act as a intermediary in the transaction requires written consent by both parties, and in the best case senario the broker should have appointed two license agents to carry out the instructions of the two parties.
As for the Sellers Disclosure, once again Texas law requires it and any inpection reports to be disclosed to the buyer. The Disclosure has a place for the buyer to sign acknowledging that they have recieved it, the Texas Purchase Contract has a place acknowledging that the buyer has recieved a copy of it.
Mr. Ugwa should have explain the importance of getting the home inspected again even if it had been previously inspected just to see if the repairs had been done properly. If Mrs Aldana had decline having an inspection done, Mr. Ugwa should have had Mrs. Aldana sign a notice stating so.
I wonder if Mr Ugwa was the listing agent for the seller and also representing the seller in the purchase of his new home? Could bad old fashion greed be involved here?
90% of my business is with first time home buyers and it requires alot of hand holding and education of the buyer of the processes involved. I incorporate alot of paper work into each transaction to make sure I communicate and educate my clients to these processes and to cover my butt. I call this paper work TP "toilet paper" and it seems you can never have enough.
I think if the Miller's Agency is having to consult with their attorneys, then Mrs. Aldana should find her a real good attorney who specializes in real estate law.
This is the stuff that give us all a bad image and rap. If Mr. Ugwa has done everything right he should have the paper work to back him up.
Thank you for your time and attention to this letter.
Yours, d_garza@remax.net
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