The night before closing of escrow, I got a call from my real estate agent. She informed me the seller, the seller’s agent, and the property manager of the building had failed to disclose that the designated parking space and storage unit for the condo were not included in the sale ratification. These were deeded easements, and separate, additional yearly fees were charged by the commercial owner.
Utterly befuddled and unaware of this type of provision, I inquired further about the ramifications. My agent’s response was a repeat of the word easements combined with a statement I could get out of the deal with a full refund of my escrow deposit. When I then asked what she would do if she was in my situation, she gave a noncommittal answer. I told her this was not happy news, I would sleep on it, and give her my answer in the morning.
I felt furious to find out my ratified offer, which was way over the asking price, did not include these essential components and more fees were to be added on top of the HOA dues. At the height of the real estate market, my bid was one of 5. Surely, the other bidders were assuming and including ownership of the garage space and storage unit too. Even though I stated a limit, true to form, my realtor insisted I present a specific, higher offer to get the condo. In an unsustainable living situation and trusting her, I acquiesced.
Then, months later with various movers scheduled and packing nearly complete, I get this call at the last minute. As I had given notice to my rental landlord and needed to move, I felt desperate and really did not know what to do. Was this a sign from the invisible world and my Guidance of trouble brewing? Should I bow out of the deal? Having been relegated to two rentals since the divorce and selling my house, the thought of going through the arduous process of finding and moving to yet another rental was far from appealing. I felt terrified, unsure, and confused with home insecurity looming large once again. I had a horrible night’s sleep.
The next morning, I spoke to my realtor and, as a compromise, negotiated a small cash back from the seller and realtors to help offset the additional garage and storage charges. Then I showed up at the title company and signed the escrow documents. I had convinced myself that this condo was to be only a 2 year deal because, surely, my life would change dramatically and positively; thus, I could handle any fallout.
It turned out to be one of the biggest mistakes/miscalculations of my independent life (sans husband). For starters, it’s been 9 years, not 2, and, for the duration, the easement arrangements have presented daily problems. In addition to garage spaces and storage units, the garage owner owns the gate to the driveway, the driveway, and garage doors. They have been in such poor condition consistently malfunctioning and continually allowing for breaches in safety and security for the building. A major part of infrastructure that we residents have no control over. To add to this unfavorable arrangement, the owner is an absentee, disinterested landlord, leaving us to fend for ourselves time and time again.
Compounding matters further, I found out early last year that the Grant Deed issued to me by the title company was incorrect. It stipulated easement document numbers that were for a different unit. For months, I worked and pushed Fidelity National Title Company to reissue and rerecord a revised deed and, accordingly, provide supporting easement documents. I got it done. So, when I sell, all the documents are now in order and correct.
In essence, this condo purchase was the sum total of serious mistakes made by many people involved in the sale. They got paid for their incompetence, lack of care, and oversight. The whole experience of transacting business with an untruthful seller, an inadequate property manager, inattentive realtors, and an established escrow company negligent in providing accurate documentation has been shocking. To my chagrin, quite eye opening too!
Ultimately, I hold myself accountable for choosing my cavalier realtor and making the decision to go through with the sale not fully understanding that getting a call right before escrow closed was indeed a tip to get out no matter how challenging. Ah, the movie Get Out!
And, yay, for the housing market lawsuit and elimination of the 6% fee.
