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Problem with neighbors preventing sale of lot?
I have an unimproved lot that was for sale. Had an offer, but the day before closing the neighbors got into an altercation with the buyer and the buyer withdrew his contract. My agent said I have to disclose this and it is preventing any potential buyers. Is there a timeframe on disclosing problems with neighbors? I really need to sale this lot.
Asked By Connie | Havelock, NC | 336 views | Tips Advice | 4 months ago
Answer(3)
Ashelynn Burt-Jones,
eXp Realty of the Triangle
I’m sorry to hear about the situation with your lot. While your agent is guiding you through this, it’s important to remember that disclosure laws vary by state, and you’re generally required to disclose any material facts that could affect a buyer’s decision or the property’s value. A neighbor altercation could be considered a material fact since it may impact the buyer’s enjoyment or safety.
There typically isn’t a specific timeframe for disclosing neighbor-related issues, they should be disclosed as soon as they’re known or relevant. Because these situations can be legally complex, I strongly recommend seeking legal advice to ensure you’re fully compliant without discouraging potential buyers unnecessarily.
Working closely with your agent and an attorney can help you create clear, honest disclosures and potentially provide context or solutions that ease buyer concerns. If you need, I can assist in connecting you with a trusted real estate attorney.
There typically isn’t a specific timeframe for disclosing neighbor-related issues, they should be disclosed as soon as they’re known or relevant. Because these situations can be legally complex, I strongly recommend seeking legal advice to ensure you’re fully compliant without discouraging potential buyers unnecessarily.
Working closely with your agent and an attorney can help you create clear, honest disclosures and potentially provide context or solutions that ease buyer concerns. If you need, I can assist in connecting you with a trusted real estate attorney.
- 2 months ago
Helpful (1)
Unhelpful (0)
Steven Strauss
Coldwell Banker Realty, Denver Central
Seek legal advice.
- 4 months ago
- Helpful (0)
- Unhelpful (1)
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