5 days after Closing found about about future assesment from neighbor!!

What is the name of your state? Minnesota

I recently purchased my first house in May. My realtor was also the listing agent and I agreed to a dual representation. After closing I found out that my realtor was selling his home to the seller and had a personal interest in the transaction which makes me wonder how he could have been looking out for my best interest. Further more a week after purchasing the home a neighbor stopped over to inform me of an assesment hearing in June for some road improvements. My portion will total aprx $5,000. after further research I found the street 1 block down was done the previous year which leaves me to believe the seller was aware of this however did not disclose it to me. What recourse if any do I have and what steps should I take. I talked with the realtor who denies any wrong doing.

[HomeGuru]

Originally posted by Trevorhaasch
What is the name of your state? Minnesota

I recently purchased my first house in May. My realtor was also the listing agent and I agreed to a dual representation.

**A: strike one.
******

After closing I found out that my realtor was selling his home to the seller and had a personal interest in the transaction which makes me wonder how he could have been looking out for my best interest.

**A: wonder no more. You are correct. Did you also know that "your" Realtor really represents the Seller?
**********

Further more a week after purchasing the home a neighbor stopped over to inform me of an assesment hearing in June for some road improvements. My portion will total aprx $5,000. after further research I found the street 1 block down was done the previous year which leaves me to believe the seller was aware of this however did not disclose it to me. What recourse if any do I have and what steps should I take. I talked with the realtor who denies any wrong doing.

**A: was the Seller and Realtor aware of the assessment?

The Realtor and seller both claim to have no knowlege of the assesmenet or one in the works. However the niegbors tell me the road work was suppose to happen a year earlier, but was post poned. I find it hard for the sellers not to know as the road leadign to theirs one block down on the same street was torn up last sumer.. I think it takes longer then a couple fo months for the city to decide to tear up a city street. the work was done in august thats only 3 months after closing. I have not received the final assesment.

[HomeGuru]

Originally posted by Trevorhaasch
The Realtor and seller both claim to have no knowlege of the assesmenet or one in the works. However the niegbors tell me the road work was suppose to happen a year earlier, but was post poned. I find it hard for the sellers not to know as the road leadign to theirs one block down on the same street was torn up last sumer.. I think it takes longer then a couple fo months for the city to decide to tear up a city street. the work was done in august thats only 3 months after closing. I have not received the final assesment.

**A: do more research. Find out the exact date that the assessment became real and compare to the contract dates.

I signed my purchase agreement in march now if the assesment came to play after that does the seller still have a legal obligation to disclose any knowlege of upcoming road work..?

[HomeGuru]

Originally posted by Trevorhaasch
I signed my purchase agreement in march now if the assesment came to play after that does the seller still have a legal obligation to disclose any knowlege of upcoming road work..?

**A: stop asking questions, complete your research and then come back to us.
We need to know when the city/county first talked about the issue publically, when the assessment was passed etc. Get the entire history first. We are not here to play "what if" scenarios. We base on our advice on complete facts.

[nextwife]

And dig into your closing papers and find whatever copies of the "special assessment letters" the municipality provided to the closer. Typically, at least around here, the title company or closer obtains municipal letters that show:

tax status, current and past years
water and sewer bills for the prior quarter and payment status
any special assessments for work completed but not yet billed AND Contemplated Special Assessments approved by municipalty

Work discussed but not approved would not yet be a contemplated special. Anyway, typically, the title reflects any special assessments being billed as reflected by muni letters. The lender wants those addressed. Anyway, look and see if the municipality disclosed on their "specials letters" that there was a contemplated assessment. Dates are important in relation to the offer.

[HomeGuru]

Dig it.