What the Listing Agent Will Not Tell You
How many times have you gone into an Open House and the listing agent asks you if you are working with a Realtor? Hopefully, every time you have gone into one. It is one of the most important questions a listing agent can ask you. If you are represented by another agent, it is your real estate agent who needs to do the 'digging' in on the home.
In the world of RI waterfront real estate, going to open houses unprepared by your agent is not a good thing. You can ask all the questions you want and you should. However, ensure you ask your agent the same questions too. Why? You are buying into very coastal communities - streams and flood plains can make all the difference to whether or not you can afford to buy.
What the listing agent will not tell you is that you may need several thousand dollars or more in flood insurance for a home. Is it their fault? Well most real estate agents look at the sales disclosures the sellers fill out and take it as gospel. Very few drill down on the current flood maps for an area. As I have shared before in my posts, flood zones have been changing in most Northeast coastal communities almost every two years (as they coincide with the hurricane damage along the coast). Even homes that appear not to be in a flood zone and have no mortgage on them may not be represented to a buyer correctly. It is the buyer's agent's responsibility to verify a flood plain issue. Do it early before you fall for the house!
Understand what the listing agent is not telling you is they don't know it, so they don't need to reveal it. Be aware and buyer beware. Ensure you have the representation you require to miss the landmines of buying along the way. Make sure you have an agent who truly represents your interests and protects them well.
Whether you are buying or selling in the RI coastal real estate market, I would love the opportunity to earn your trust and business. I know my waterfront real estate well. When you are ready to buy or sell RI real estate, call me at 401-529-7849.
Have a better idea on what the listing agent will not tell you now?
This blog © and its contents is original to Ginny Lacey Gorman
Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate
Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ... I sell dreams! Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.
Looking for a knowledgeable Rhode Island Real Estate Agent? Let me GOOGLE one for you!
cell: 401.529.7849 Ginny Lacey Gorman, Realtor