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I guess it was just a question of time. A buyer filed a lawsuit against Hilo Brokers, claiming they represented the property as "pristine" while it is infested with coquis. Here we go, it's open season on real estate agents!
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,RB
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
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open season on what? pristine means pristine, and full disclosure means just that. noting that you are a real estate guy you should know it too! I applaud the buyers effort to get what they deserve, not accept what some underhanded real estate agent stuck them with.
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Wait until they find out about the nettle caterpillars, centipedes and little fire ants!
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there are always two sides to the story, apparently the buyers where also served the coqui disclosure but never really investigated the property during the timeframes that coqui were active in that area and still signed off on the disclosure...so i don't know if i would fault the agent.
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I actually saw this news article in a Santa Cruz, CA newspaper! They picked up an AP article:
http://www.chron.com/disp/story.mpl/ap/fn/5136090.html
ArtM
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John, is this the one against Hilo Brokers? If so, the coquis were specifically mentioned in the property disclosure form. It's a question of if "pristine" meant the way the buyers imagine the property should be absent anything since the creation of the islands or the way it is without any human development or intervention since the creation of the island. I also heard the out-of-state mainland investors that were planning to bulldoze the "pristine" acreage for a massive housing development never even visited the property before that one time. Didn't they also have to close with financing by a certain date which looks like they weren’t going to meet so they filed a lawsuit over the coquis to say the property wasn't what it was advertised so they should be able to cancel the purchase contract. Is this the same one?
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Hold the phone here.. The property may have been prestine at the time of the statement. Hmm.. since the coqui, as I've learned here, can spread by car then who's to say when the infestation occurred.
Granted there mey be a neighbor that comes forward as says they've been there forever. But, I'd like to know the timeline.
If John sells me a lot in HA and makes that statement and I leave only to return 8 mos later and find an infestation then how do I know when they came. Again, unless there's a neighbor that has input.
The statement pristine is not a warranty that the property will remain pristine.
Even my dumb #$@ is going to go out there at least one night sometime prior to closing and sit on the tailgate and burn a phatty.
With that said I try not use words like pristine and phrases like there'll never be a subdivision there etc..
Anyway, like someone said there are always two side to every story. I'll be interested in how it plays out.
Blessings,
dave
"Sometimes your the bug and sometimes your the windshield"
Edited by - Dave M on 09/20/2007 09:44:29
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
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Ok I just read that article and I really think the realors position is very defendable. As well, I think the Company that assigned it might be just, if not more, liable than the realtor.
If it had not been assigned then I would think that the first Co. was just after their ernest money or deposit and maybe their pre development cost.
Again, it will be interesting as to how it plays out.
Blessings,
dave
"Sometimes your the bug and sometimes your the windshield"
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
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Ok.. one more thing. (since I'm on my soabox) Judges hold Development companies to a higher standard than they would a Mom and Pop out buying a home site.
For instance he's going to want to know if they did an impact study did they do a feasability study. Did the do their Due Dilligence? etc..
Profesional developers are and should be held to a higher standard than the average joe out looking at lots.
Blessings,
dave
"Sometimes your the bug and sometimes your the windshield"
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
