When buying or selling a home, it’s easy to get caught up in the excitement — especially in a market with low inventory. However, this is not the time to rush. As you’ll see, attention to detail can prevent significant problems.
Here’s the backstory: I recently helped my buyer clients secure a home they loved after a competitive bidding process. We reviewed the property’s sales disclosures, and everything seemed to be in order. The sellers had purchased the house in 2020, waiving all inspections due to the market frenzy. Their disclosures indicated an aged septic system.
Since due diligence is critical, I decided to verify the septic system information with the Rhode Island Department of Environmental Management (DEM). That’s when a major issue came to light — the property didn’t have a septic system at all; it had a cesspool. This meant the original sellers had incorrectly listed the property on their disclosures.
Why does this matter? Cesspools are outlawed and must be replaced within a year of purchasing a home. My clients had signed disclosures stating a septic system was in place. Because the error was on the sellers, they were responsible for either installing a new septic system or terminating the sale and refunding the deposit. In the end, the sellers paid $35,000 for a new septic system. All of this could have been avoided if the original agent had conducted proper due diligence in 2020.
Unfortunately, many buyers and sellers make the mistake of choosing an agent based on convenience — perhaps a family friend or someone with the lowest fees. But in real estate, cutting corners can be costly. Hiring a skilled, experienced agent who understands the complexities is an investment worth making. I know this may sound self-serving, but I’ve seen more mistakes than you can imagine — having a great agent truly makes a difference.
So, if you’re considering buying or selling a home, take the time to interview agents. Check reviews, ask tough questions, and don’t just go with the cheapest option unless you’re very experienced. When it comes to something as significant as your financial future, choosing the right agent isn’t just a “nice-to-have” — it can be the difference between a smooth transaction and a costly mistake.