Quote:
Originally Posted by Bagor
Can you elaborate on that please?
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Plenty of examples but I will use a common one -
Your advertised square footage. If your buying a condo at 500 a sq ft and you market it at 1000 sq ft and it is really 950, the buyer of your place may have a case to come after you for 500x50. A realtor assumes this risk which is why I have my listings professionally measured.
A recent example came where a parking spot was assumed to be assigned. It is in fact titled and the courts missed it years ago when foreclosing on the unit. The purchaser of this condo is the only one not at fault as he hired a realtor & lawyer to ensure these things were in order. It is now up to the industry professionals to resolve the issue.
In a way, part of hiring a realtor is almost like a insurance policy - not the best analogy but I am sure you see what I am getting at.