Real Estate Matters Palo Alto Issues, posted by Editor, Palo Alto Online, on Oct 31, 2012 at 11:30 am
Most real-estate transactions go off without a hitch. Agents on both sides explain the rights and responsibilities to their clients and everyone does as required and expected. By and large, agents are competent and thorough and buyers and sellers are reasonable. But not always...
Read the full story here Web Link posted Wednesday, October 31, 2012, 10:53 AM
Posted by Jim W Hildreth, a resident of another community, on Oct 31, 2012 at 11:30 am
The article on Mediation and Real Estate when a dispute arises was outstanding if a dispute should occur between buyer seller and seller, Broker.
Mediation is also confidential, cost effective and can allow "fresh air" v arbitration or litigation. Mediation can lead to a quick resolve in the dispute.
Mediation can also be effective in landlord tenant disputes, real estate deposit disputes, probate matters, easement issues, tree disputes, or neighbor to neighbor disputes, partnership disputes.
As the article mentioned if the claim is $10,000 or less, "small claims court" can be of value. Sometimes courts will have mediation panels that are available at small claims or on issues above $10,000.
Check with the local court under ADR or Alternative Dispute Resolution.
Another source would be a private mediator, simply do research in your
browser such as Yahoo, Google ie. "Real Estate Mediator", "Real Estate Mediation"
If one has legal questions, about real estate issues, its always best to seek legal counsel in the area of the law, where you have legal questions.
Posted by Ducatigirl, a resident of the Old Palo Alto neighborhood, on Oct 31, 2012 at 3:45 pm
Wish I had known about all of this when we bought the house we are in now. Our agents did not inform us of things to avoid in location, and the seller did not disclose important things like the nearby RR or lack of insulation. The agents didn't even tell us that the lot was substandard--they told us everyone had a tiny lot in Palo Alto.
As we uncovered the truths, one by one, we were told we would have to hire a real estate lawyer for big money and sue the sellers to force them to take the house back and return our 50% down payment. The whole thing would have been so expensive, with no guarantee of a good outcome for us, that only the attorneys would come out ahead. so we decidied against it.
Now, we are finding this property to be extremely hard to sell due to its location and small lot, and we are stuck here.
what we did not know then is hurting us now. Caveat emptor!
Posted by Ducatigirl, a resident of the Old Palo Alto neighborhood, on Oct 31, 2012 at 8:12 pm
We had the house inspected...the inspector was too lazy to go into the attic and look (said it was too hard to get up there). That autumn, we did, and surprise! no insulation whatsoever.
I was unfamiliar with Palo Alto and came from the direction of Middlefield whenever I came to look at it. Never saw the tracks, because they were blocked by trees and bushes.
Agents never told us a shared driveway was a distraction that would make the house hard to sell or refinance later. I was inexperienced and did not have a clue. The driveway did not bother me, then or now, but it is most people's number onbe complaint about the house, despite $100,000 of improvements put in.
Our last agent told us no onen liked our house, and that we would have to accept an offer under 1.3 million, even though it was appraised at 1.536 million. anything less than 1.4 million will not enable us to get a low enogh payment on the next house.
Unless we want to downgrade, we are stuck where we are, at least for a few more years. Problem is, we need a bigger house soon.
Posted by there is a train in Palo alto?, a resident of the Old Palo Alto neighborhood, on Oct 31, 2012 at 8:19 pm
Yeah, don't bother taking any responsibilty for you predicament-out was the lazy inspector, the bushes, the agent etc. (not that I believe any of your story). I know a Jan h in that neighborhood that is looking to sell- maybe you can get a good deal on jet house.