Read the video transcript below.
Hi, my name is Lance Mohr and I’m a real estate agent in Tampa and I wanted to do a video today because I had a gentleman call me, actually someone I knew in Tampa. He had one of his friends that was looking for a waterfront home in Tampa Bay. It was more of an acquaintance and the gentleman was looking at Tampa waterfront homes for sale and they decided to buy a lot so they contacted a real estate agent and they didn’t know at the time this real estate agent really didn’t have a clue in what they were doing so let me just tell you about his experience and it was really almost catastrophic for this gentleman and his wife. They almost bought a $600,000 lot that was on the wrong location.
So what happened is he was talking to the agent, they were looking for Tampa waterfront homes for sale and then they went to the lot and they decided to build something so the agent starts sending them information. They found one that was advertised on the Gulf of Mexico. It was a gorgeous lot on the Gulf so they went under contract on it, they paid $600,000 and they put $50,000 earnest money down. Well what happened is they get a little before closing to find out that this lot was not on the Gulf, it was across the street on the intercostal- big difference. On the Gulf it was probably worth $600,000 but on the intercostal when you have neighbors 50 yards across from you it was not worth anything near $600,000 so I talked to them to figure out what happened and I asked them, I said well the listing agent advertised it on the Gulf. I said well didn’t you see a survey? And he said no, they kept on giving us excuses. They were paying cash for the property. The listing agent kept on giving his selling agent, his realtor excuses about the survey and I said, “Okay but when you came to town didn’t you meet your agent and meet the listing agent at the property and look at the property and see where all the stakes were for the survey?” He said no and I said okay well didn’t your real estate agent at least call the title company and ask them for a plot map or did you see the plot map of the property and he said no. He didn’t know what to do. He was new to all of this and I completely understand that.
It's hard to ask a question or know what to do when you don’t know what to ask or what to do. He relied on his real estate agent and his real estate agent didn’t really have a clue on what the heck they were doing. On the other side the listing agent just seemed completely unethical as well as the seller so I basically told him how he could get out of it which was pretty easy and there are outs in contracts, there always is but he ended up getting out of it. He lost $50,000 but I told him first off the seller needs to provide. It is up to the seller and I’ve done waterfront listings before on the lots and I tell the sellers, look if you want me to list it, you are going to have to get a survey. I have even had sellers that have come to me and said if I have the listing I have the survey but I went out there and there were no stakes anywhere. You are going to have to pay a surveyor $100.00 to go stake the property because I need to meet the potential buyer and the realtor out there and we need to walk it or at least they need to walk it and they need to know what they are actually buying. So you have to get a real estate agent that one knows what the heck they are doing and keep in mind you as the home buyer, you as the consumer if you are buying waterfront homes in Tampa or anywhere for that matter in Florida or anywhere else you have to do your due diligence. Do not just figure all real estate agents are the same because this gentleman literally was weeks away or not even that far away from buying a $600,000 lot that was not facing the Gulf. Unbelievable! So anyhow, do your due diligence. If you have any questions on anything, don’t hesitate to give me a call. I’m doing a bunch of these video series right here so you can always look at my other videos or type in the search box as far as finding different videos and stuff. If you have any questions don’t hesitate to give me a call. I would love to help you out and I would love to answer any of your questions for you. Take care and I wish you the best of luck.
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