Real estate scams are on the rise. Here's how to protect your home and your wallet from the most common cons.
Question: In a recent column, you said that a buyer's broker had to disclose a gun range nearby, even though the noise from gunfire was only bad in the winter months. Thus, you recommended that a broker only sell homes in a community that the broker "farms" (i.e., a community where the broker sells homes frequently). Whether you are right or not, I understand your argument. Years ago, I showed many potential buyers a home in the West Valley. The Seller's Property Disclosure Statement said nothing about a train that ran directly behind the back fence. None of my potential buyers nor I ever heard a train. However, after one of my buyers bought the home, they woke up to the sound of a train the first night in the house! The seller said the train only comes by a "couple times a day," and the buyer never complained again. My question is, can a broker be liable to a buyer for not disclosing a train that comes by only twice a day?
Answer: Thanks for your comments. Brokers who "farm" that community probably know about the train, and that could be the standard of care for any buyer's broker who sells homes near the train. The sound of a train only twice a day, however, may not even be a material and adverse fact that would require disclosure by any buyer's broker. In the summer, we stay in a condominium complex in the San Diego area next to the railroad tracks. When the Pacific Surfliner goes by, even late at night, we all get somewhat of a pleasant feeling.