Purchasing a home
 

When purchasing a home from TV and signing the contract, they refused to put pending on the listing saying they wanted b ack up offers. Taking b ack up offers is not a problem but shouldn't it say pending anyway. They just said when people phone they could tell them.

Does this sound right?

Yes. They really do sell a lot of homes and they can pretty much do It the way they want to.

They are not realtors or on the MLS so they can do what they want

Sound right? Not really. Standard practice here? Most definitely. However, I've never heard of the same home being sold twice, so I guess their system works.

Our home with mls was still listed until we closed, as our realtor said it's not done till the money changes hands.

as a Realtor, the reason why we perfer not to mark a home pending is deals don't always close, and more importantly

when a perspective buyer calls about your home, I would reply that home in already under contract, BUT, I do have many other homes that are similar. When can we meet and I can show you the other homes I have available.

Its a tactic to obtain additional clients.....

Thats why, as a Realtor, If you don't list, you don't last....

But, could you do it this way?

Somehow this is not comforting to know that the Villages salespeople are not regulated by the NAR or the state of Florida. In other words, if a buyer or seller has any problem with a real estate transaction using the Villages sales office, they have nowhere to report their complaint.

I believe that The Villages salespeople are licensed by the State of Florida.

They are just not Realtors who must abide by the associations ethics. The fact that they are not Realtors does not mean they are more or less inclined to be ethical.

In fact there are thousands of U.S. home sales people that are not licensed at all. They are employees of the builders/owners of the houses and as such do not need to be licensed. Of course, that also means they cannot solicit listings.

A year ago a neighbor's CYV sprung a water leak in their slab while they were away for three months. How long it was leaking, no one knows but their was a lot of damage. The home was a year and a half old and to the credit of the builder, they came in and repaired everything to original. They gutted the entire master bedroom and bath, jack-hammered the slab, fixed the leak, filled everything back, put in a new vanity, drywall, carpet, tile, paint, it was a 3 week job.

The owners felt very leery about keeping the home, worried about the water damage maybe causing a ground collapse in the future. They listed the home with TV realty, which made no mention of the water leak or repair. The home sold in a couple of weeks and the new owners found out about the problem from another neighbor the day they arrived. They immediately contacted a lawyer to see about getting out of the deal. TV realty told them, that since the warranty department fixed the problem, it didn't need to be reported in the listing. Those people put the home back on the market and resold it without telling the next buyer. So in the future, if you're buying a resale, it's good to ask all kinds of questions.

That's very interesting that the Villages salespeople cannot solicit listings.

Just sold our house in PA through MLS Realtor and we did not list pending until the contingency was met (buyer getting a mortgage). As the seller, I didn't want anything changed on the house, pending or sold, since I didn't want to limit drive by interest. I don't consider it sold until the check clears so why would I do anything to take it off the market.

I should clarify. The Villages sales people have real estate sales licenses. They can list houses and in fact The Villages Resales are quite strong here. Even though they can do listings, their listings do not make it in the Realtor Multiple Listings which sometimes hurts resales.