I just had a friend backout of an offer on a foreclosure property. He found out that he was the 3rd buyer to backout for the same reason major structural issue. The major structural issue was never disclosed. In fact, the structural issues were covered up. I just read the following post on Zillow about another disgruntled Kansas City home buyer

Question: I just had a friend backout of an offer on a foreclosure property. He found out that he was the 3rd buyer to backout for the same reason major structural issue. The major structural issue was never disclosed. In fact, the structural issues were covered up. I just read the following post on Zillow about another disgruntled Kansas City home buyer:

I had a contract on a house located at 211 E 67th St Kansas City, MO 64131 in Kansas City. Apparently prior to my offer she had a termite inspection done and found the house had major termite damage. This was not disclosed to me (the buyer) whatsoever. In fact, the "Sellers Disclosure" says N/A. When we asked her why she did not disclose the damage she said "the damage was obvious". I guess it is obvious if your in the basement, looking up at the rafters along the front sill plate of the home with a flash light...

Had I of known the house had termites and the damage was disclosed prior to writing an offer, I NEVER would have even offered on the home. Instead, I wasted a 375.00 inspection fee, the chance at another house and a week of time. When I called Tim Sweeney THE BROKER he condoned this behavior!!!! I guess our only recourse is to file a complaint with the MREC? Are there any other websites that post about bad realtors? If not, someone needs to start one.

Funny thing...she said sale flipped "NO FAULT OF SELLER" in her new MLS ad. HAHA...No fault of seller? I guess she reasons it out to be the fault of the termites?

Unreal.

My wife and I have been getting our home ready to sell in Olathe so we can buy a great foreclosure deal while interest rates are low. Are listing agents and brokers covering up problems? How can we protect ourselves when we buy a foreclosure home?
Andy L. from Olathe, Kansas


Answer: Sorry that you feel that all listings agents are being dishonest and covering up structural and mechanical issues. Although it might seem like all real estate agents are not properly disclosing, I think it is only a handful agents. 


To protect yourself, hire a buyer's agent who will look out for your best interest. After looking at the 2 real estate transactions you emailed me privately, I noticed both buyers did not have a buyer's agent. In addition, before you write an offer on a foreclosure property, inspect the property personally. Look for visible signs of structural problems.


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