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I have a Co-op listing, problems with the sellers, need your thoughts

Discussion in 'Real Estate Brokers' started by kick88, May 4, 2012.

  1. kick88 New Member

    I got a listing of a Co-op. Is a 1/1 facing a canal front totally renovated. Everybody loves this place and even people love the furniture and want to buy it furnished. But the thing is, this is not a regular condo, is a co-op. And I'm the listing agent, the agreement was for limited service as transaction broker so I can bring potential buyers too.

    I brought a potential buyer 2 weeks ago to view the property. He liked it a lot but he asked for all the information about the co-op: the whole structure, the shares, the financials, everything about the co-op. I asked the owners for this and they didn't have this information. I asked them if the property manager can give this information and they said no, that the potential buyer should make an offer first before getting all this information. They say, that the person that makes an offer has a time period for inspection and this inspection period includes any type of inspection including the information my buyer wants to know.
    I told them that to my knowledge, the inspection is for the physical property and the title company will check any liens that the title might have (and that's why buyer's by title insurance). But I haven't heard any other type of "inspection" other than the physical inspection of the property.

    So I think they didn't like that the potential buyer I brought was asking for all of this information in order to make an offer. They said that even the property manager doesn't have this information but that she can "make an exception" with my buyer to attend his call and answer all his questions about the co-op and explain to him that she doesn't have that information.
    _______________________
    portland condos
  2. real_buzz Moderator

    well any buyer will prefer to get all the information before making an offer.

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