Agent

Relying on listing agent is mistake #1

Home Sale Hindsight
Published on Jul 7, 2009

Q: I've lived on the West Coast my whole life, but in 2006 decided to buy a place on the East Coast to move into. I found a place on the Web, called the listing agent and bought it (I did get an inspection from a contractor she knew, but he didn't find any big problems.) I moved there for one month before I had to move right back out because I was constantly sick. After extensive testing, I learned that the house was riddled with mold from a leaky, unsafe addition that the previous sellers had put on the house without permits. When we went to get the permits for all the mold repairs, the city actually ordered me to tear the addition off -- the problem was, the addition was about a third of the house's square footage! I decided to stay where I was and just sell the East Coast house, but in order to even put it on the market, I had to tear down the addition and do all the mold work, which cost me over $50,000. It is on the market now, but now I owe so much more than it is...

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