I sat in on some CE today and heard some horror stories about realtors missing things like:
"There's hardwood under the carpet" - Don't be fooled! Builders sometimes only put hardwood around the perimeter of the room and not in the middle. If this is the case, you will not be able to tell by checking around the HVAC vents or pulling up the carpet in a corner.
"This house has granite countertops" - Now, many remodelers are putting in granite overlays for a savings.
"Brick Veneer and Hardieboard Plank Siding" - Without taking a closer look, you might miss that the bricks are actually a new product that looks like brick veneer but are really pretend bricks on a board and nailed to the floor joists.
Since your job as a Realtor is to discover and disclose, you are responsible for things that you say to promote so you must disclose them right or you could end up in a lawsuit. Scarey huh?
The best thing is to never ASSUME anything and get inspectors in to make the call on things you cannot tell and use this information to help your sellers and buyers understand the issues that could come up.
Sellers and buyers need professional realtors or it's "buyer beware!"
Sam,
Thanks for the post and helping to keep errors & omissions insurance premiums down.