Real Estate: Dealing with Agents/Detention Ponds

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Question
Hi John - several questions for you: 1)As a real estate broker, if a house that you were showing, in the middle of a snow-covered winter, contained a detention pond easement that spanned the last 50 feet of a 90 foot back yard - would you reveal, it from the outset, to your clients? 2)In your experience in California, would the existence of such a pond have a negative impact on the home's value and marketability? 3)At what point in your transactions do you make any red flags in the title commitment letter known to the buyers?  Thanks!

Answer
Hi Homer - any type of easement needs to be disclosed to potential buyers as soon as the property goes on the market.  In my opinion, every type of easement has a negative impact on the value of land because it restricts what you can do with it.
The title commitment process begins with preparation of the Preliminary Title Report, which is usually completed prior to putting the property on the market.  The report should also list all easements and the title company (or the seller) should make available a copy of the recorded document that grants the easement.  Even though the title company usually catches any problems when they prepare the report, it's not uncommon in my area to find problems later that slipped past them.  However, the title commitment usually accompanies the title report.
I hope this helps.

Real Estate: Dealing with Agents

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John A. Souerbry

Expertise

I can answer questions pertaining to: - How to find an agent that fits your needs - How to compensate your agent (commissions, incentives, flat fees, and more) - How to communicate with your agent before and during your transaction - How to initiate dispute resolution with an agent I cannot answer questions pertaining to: - Potential litigation or other legal matters

Experience

I am a licensed California real estate broker (CalBRE 01370983) specializing in residential brokerage, property management, and estate services. I have been licensed since 2003 and am currently working as an independent broker in the San Francisco Bay area.

Organizations
Bay East Association of REALTORS(R) Silicon Valley Association of REALTORS(R) California Association of REALTORS(R) National Association of REALTORS(R)

Publications
In addition to my own web site, my blogs, articles and responses to consumer questions appear online at Trulia.com, Zillow.com, ActiveRain.com and other real estate forums. My answers also appear in several categories relating to real estate on Experts.com

Education/Credentials
BS, Business Administration MBA, Globa Management

Past/Present Clients
My clients are: - Consumers searching for a primary residence or vacation home - Investors buying and/or managing residential income property - Estates in probate requiring temporary management and property sales support

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