4 ms·

I agree they should be available, but it may not have made a difference. Most people don't read any records when purchasing a home or base such a decision on th

I agree they should be available, but it may not have made a difference. Most people don't read any records when purchasing a home or base such a decision on things like this. I've had flood plain maps included in my mortgage paperwork, but I've also had the other parties sit their being verbally impatient while I actually look through everything instead of just signing where they show me.

jordanb 9y ago
Of course those other parties, at your closing, bear no risk themselves if you sign (regardless the contents of the papers) and stand to lose their commission if you don't.
- TallGuyShort 9y ago
  Which is extra screwed up even from the respective employers' perspective. They're loaning me more than 10 times more money than I've ever borrowed. Several times my salary. My ability to take care of the house and honor the terms of my homeowners' insurance is the only thing protecting their investment. Don't they WANT me to take it really seriously and know what I'm committing to?
bonniemuffin 9y ago
When I bought a house, my agent got me all the documentation a day or two ahead of time so I could read through it before the closing day. I can't imagine trying to read and sign that giant stack of papers while people are waiting on you.
jpindar 9y ago
I've noticed that whenever you have to sign a contract or agreement of any kind. No one expects you to read it.
- deelowe 9y ago
  You should read real estate contracts. They are often specific to the purchase.
  - KGIII 9y ago
    I read almost all contracts. I even skim EULAs. If I'm signing it, I've probably read it. It's something I recommend that everybody do.
deelowe 9y ago
You should have reviewed the map during due diligence, not at closing. Closing is for checking that the terms of the deal are properly documented not for research.
- TallGuyShort 9y ago
  Well I can tell you the map was not available prior to closing. I requested it and all documents. Town and County governments only referred me to the Metropolitan District, whose board cancelled meetings and ignored all attempts. Closing was the first time I saw anything. That's why I didn't feel bad making them wait.
  - deelowe 9y ago
    It's not the seller's fault the county is a pain in the ass. Again closing is not for due diligence. Even if you had found an issue, you would have lost your escrow. I would be pissed too if a buyer tried to find a reason to back out of a deal at closing. That's not what that's for and you could have cost them a ton of money if you had found an issue. [Edit] fyi the proper way to make the seller care about such things is to extend due diligence and let them know you'll need a flood map before you'll move forward on the deal.
    - amigoingtodie 9y ago
      Parent is well within his rights. I would be pissed if I bought property that knowingly floods, but the seller's agent insists it is the responsibility of the buyer's agent to discover this. What if the buyer relied on the seller's agent? You believe the buyer is at fault?
      - deelowe 9y ago
        I don't "think" it's the buyer's responsibility. It literally is their responsibility (excluding special circumstances). The large majority of contracts are written with the assumption that the buyer performs due diligence during a specific period. Once that period is up, there are penalties for backing out. The buyer is in violation of the contract if they back out of the offer. Rights have little to do with contract law in this case by the way. Note we're talking about public records such as flood plains here, not the seller lying on a disclosure form or some other form of fraud.

jordanb 9y ago

Of course those other parties, at your closing, bear no risk themselves if you sign (regardless the contents of the papers) and stand to lose their commission if you don't.

TallGuyShort 9y ago
Which is extra screwed up even from the respective employers' perspective. They're loaning me more than 10 times more money than I've ever borrowed. Several times my salary. My ability to take care of the house and honor the terms of my homeowners' insurance is the only thing protecting their investment. Don't they WANT me to take it really seriously and know what I'm committing to?

bonniemuffin 9y ago

When I bought a house, my agent got me all the documentation a day or two ahead of time so I could read through it before the closing day. I can't imagine trying to read and sign that giant stack of papers while people are waiting on you.

jpindar 9y ago

I've noticed that whenever you have to sign a contract or agreement of any kind. No one expects you to read it.

deelowe 9y ago
You should read real estate contracts. They are often specific to the purchase.
- KGIII 9y ago
  I read almost all contracts. I even skim EULAs. If I'm signing it, I've probably read it. It's something I recommend that everybody do.

deelowe 9y ago

You should have reviewed the map during due diligence, not at closing. Closing is for checking that the terms of the deal are properly documented not for research.

TallGuyShort 9y ago
Well I can tell you the map was not available prior to closing. I requested it and all documents. Town and County governments only referred me to the Metropolitan District, whose board cancelled meetings and ignored all attempts. Closing was the first time I saw anything. That's why I didn't feel bad making them wait.
- deelowe 9y ago
  It's not the seller's fault the county is a pain in the ass. Again closing is not for due diligence. Even if you had found an issue, you would have lost your escrow. I would be pissed too if a buyer tried to find a reason to back out of a deal at closing. That's not what that's for and you could have cost them a ton of money if you had found an issue. [Edit] fyi the proper way to make the seller care about such things is to extend due diligence and let them know you'll need a flood map before you'll move forward on the deal.
  - amigoingtodie 9y ago
    Parent is well within his rights. I would be pissed if I bought property that knowingly floods, but the seller's agent insists it is the responsibility of the buyer's agent to discover this. What if the buyer relied on the seller's agent? You believe the buyer is at fault?
    - deelowe 9y ago
      I don't "think" it's the buyer's responsibility. It literally is their responsibility (excluding special circumstances). The large majority of contracts are written with the assumption that the buyer performs due diligence during a specific period. Once that period is up, there are penalties for backing out. The buyer is in violation of the contract if they back out of the offer. Rights have little to do with contract law in this case by the way. Note we're talking about public records such as flood plains here, not the seller lying on a disclosure form or some other form of fraud.