We’ve been looking for a home in the Commonwealth of Virginia for the last four-plus months, driven literally thousands of miles, and have been met with consistent disappointment when it comes to what is presented vice what the property actually is. The first thing any potential home buyer in Virginia should know is that you are considered a mark.
You have the money; the seller and all others involved in the transaction intend on getting their taste.
CAVEAT EMPTOR
In Virginia chances are, if you’re not careful, you will get screwed over because Virginia is a Caveat Emptor or “let the buyer beware” state and it’s even been written into state law. One constant in the state code is….
§ 55.1-703. Required disclosures for buyer to beware; buyer to exercise necessary due diligence
The owner makes no representations or warranties as to the condition of the real property or any improvements thereon … and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary.
You’ll see that phrase repeated 18 times (including in the title) in the state code. In other words if the buyer doesn’t see a problem and he or she buys a damaged home, they have no legal recourse after the purchase is made. That phrase implies there is potential of deception by the buyer; deception the realtor/broker representing the seller and buyer may know of but as they both have a financial incentive to see a deal go through no matter who may get screwed along the way.
FOLLOW THE MONEY
Not surprising, Virginia realtors successfully lobbied state politicians and apparently got them to near-eliminate disclosure requirements and buyer protection.
Nonprofits like the Northern Virginia Association of Realtors, Virginia Realtors, Richmond Asssociation of Realtors, Virginia Association of Realtors – Charlottesville Area, Roanoke Valley, Williamsburg Area, Fredericksburg Area, Dulles Area, Hampton Roads and dozens of individual realtors have donated millions of dollars to state politicians so they can sell damaged homes to the public with little to no accountability. Cars have “lemon laws” so a buyer has some redress if he or she buys a bad car. If you spend hundreds of thousands on a home investment, in Virginia you have no warranty. That alone is a huge red flag.
Code of Ethics
REALTORS® are required to complete ethics training of not less than 2 hours, 30 min. of instructional time within a three-year cycle offered by a local or state association of REALTORS® or an online course through the National Association of REALTORS®.
— Virginia Realtors
“Ethics Training” of not less than 2 hours, 30 minutes on transactions involing hundreds of thousands of dollars a pop. Do you feel reassured? And thanks to the lobbying, any home purchase transaction has to include an inspector and of course, a lawyer.
“Deception” may seem like a harsh word but let’s look at the home-buying process at the onset.
ONLINE REAL ESTATE SITES
The first thing most buyers do is go to the many online real estate websites where you can view available properties for sale.
Of course, sellers want to sell their properties. Unfortunately in a “buyer beware” state like Virginia, you’ll see pretty pictures and descriptions with an over-abundance of glowing adjectives that lure prospective buyers to make appointments to view a hideously overpriced property.
For example, we saw what appeared to be a really cool home! The description on a realtor site was quite the hook.
More than a distinctive home of southern Virginia, this is an estate influenced by the architectural vision of Thomas Jefferson. Giant Poplars derives its name from the towering trees that offer solitude & tranquility on 4.95 acres. Step inside the two-story, 4, 100 sq. ft. brick home & marvel at the white marble foyer with its circular floor design, soaring ceiling & fountain statue at the center. A winding staircase leads to the 2nd floor with 2 large bedrooms. Downstairs, one finds the primary bedroom with an en-suite, kitchen, formal dining room & a formal living room off to the side of the atrium with a
marble-trimmed fireplace. A high-ceiling living room is lined by bookshelves. The home’s brick patio is ideal for relaxing or entertaining beneath the stars. Giant Poplars has hosted weddings, parties & festive gatherings over the years. The front guest house, which needs repair but stands as one of Halifax County’s most historically significant structures, was once home to a one-room schoolhouse & library. Great potential as a guest residence or studio-like dwelling. All this is just a stroll from historic downtown Halifax, with world-class dining & a friendly small-town vibe.
— Realtor.com
The smell of mold, unseen in the pictures, was overwhelming. Stairs were bouncy, the second floor had untreated plywood floors, and termites were eating the house alive. The buyer was expected to pay the high asking price and then embrace the unknowns when it comes to the possible tens to hundreds of thousands of dollars needed just to make the home safely livable.
As of this posing, that house has been sitting for 343 days and how many people would’ve passed on this had a realtor been honest and saved perspective buyers wasted gas and time. And if this house was more appropriately priced and honestly listed “as is”, it may have sold months ago.
As we would like to have some mountain views and acreage, this house was of awesome potential for us and our large, extended family.
3br/2 bath home on 84 acres of level land. Spacious rooms, living room and family room located off the kitchen. Main level bedroom with en-suite full bathroom and walk-in closet. There is an addition built in 1988 off the living room that served as a 3rd non-conforming bedroom. Florida room with country views. Back deck overlooking large fenced in yard and woodland views. Multiple double carports, 2 car garage and workshop. Generator, tobacco barn surrounded by peaceful level and shaded countryside. Acreage includes hardwoods, old regrowth and approx 25 acres of cropland w/farmer’s lease and trails throughout. This property is secluded and sets well back the main road.
— Realtor
Upon entering the “shared driveway” to access, our vehicle was met by two aggressive German Shepherds who impeded its progress, attempted to enter the windows and actually tried to eat our tires. Needless to say, we opted not to view the property later and nowhere in the currently listed description does it mention the dogs owned by an adjacent neighbor, or the fact that while most Virginia towns and cities have leash laws, in the sticks dogs can roam freely and in this case, there’s no assurance that we’d be safe outside our home on our property.
PREPARE FOR DISAPPOINTMENT
Not to be a Debbie Downer, but the depictions offered on realtor sites very, very seldom match the reality you will encounter. Chances are you won’t fine a home that is “turn key ready” and in reality, the homes should be maked “as is” but as that would negatively affect a seller, just screw the mark for as much as you can.
Depending on where you are presently living and where you have to drive to view a house, you’re putting gas in your car and possibly driving for hours to see a home that doesn’t visually match the pictures shot with wide angle lenses so rooms are physically smaller than depicted, physical neglect and/or damage to the roof, gutters, bowing in floors due to water and/or termites, and that’s even if you’re not first met entering the home with the strong scent of mold.
The initial optimism you had getting ready to see a property can be dashed seconds after entering the front door. Obviously, honesty in a description and pictures could have saved you a long trip, but your
LOOKING AT HOMES CAN BE A HEALTH RISK
As your home search continues, you are exposing yourself to a potential health risk.
Having mold in your home won’t necessarily make you sick, but it does have the potential to cause certain health issues. Touching or inhaling mold spores can cause allergy-like symptoms such as: runny nose and congestion, eye irritation, sneezing, coughing, sore throat, skin rash, headache, lung irritation, wheezing….
— Healthline
You’d be surprised how many homes are not routinely cleaned while it’s sitting for sale. Be ready to walk into a faceful of cobwebs while meandering from room to room, not to mention how your breathing is affected after multiple home viewings because of the mold Virginia’s climate invites.
Not to mention stairs disloging from walls while you’re walking up them, loose handrails, potentially sticking your foot through a termite-damaged floor. Many realtors feign ignorance of these issues during a viewing and chances are the next person viewing that home won’t be warned.
ASKING PRICE vs. SELLING PRICE
In Virginia, it appears realtors tell buyers what their properties should be even though their homes were neglected or damaged. As it’s all about the commission, way too many homes in Virginia are priced above their obvious value.
Seeing how buyers are marks, they will be made to feel like they are almost insulting a seller with an offer that reflects the amount of money that will have to be sunk into a home to make it worth the asking price. Some homes have sat many months because the house is not worth what a realtor told a seller to hold out for. Realtors don’t have to pay for utilities, insurance or property tax for an unsold property and they don’t have to reimburse potential buyers for the wasted gas and time used to view a property that isn’t all it’s advertised to be.
It shouldn’t be hard to find ONE house in a state the size of Virginia that matches visual and written description. It’s almost like being Indiana Jones trying to find a lost relic hidden for hundreds, if not thousands of years.
That’s not to say there are not sellers trying to get you to pay for their refinances or hit the lottery with a home they neglected to “meticulously maintain”. That’s not to say you should doubt the honesty and integrity of realtors who lure you to view damaged homes while insisting you prove your honesty in providing “proof of funds”.
Our search continues and while it should be an exercise with enjoyable optimism, in Virginia it really sucks.
Leave a Reply