I was the listing agent for a home that sold about a year and a half ago. Generally after the sale of a home I try to stay in touch with both the buyer and the seller. Most agents don't stay in touch with their clients and most people appreciate the effort to stay connected. Plus, questions come up and it's nice to have that additional neighborhood resource!

On this particular sale, however, I never made any attempt to contact the buyers after the sale. That's because the agent for the buyers led me to believe that they actively disliked me! The transaction had gotten fairly stressful at the end. And, I was definitely angry at the way things progressed. It can be difficult at times to determine whether it's the other agent who's making things complicated or whether the client is perhaps being unreasonable. In fact, this agent was so perturbed that she called my broker to complain. Fortunately, my broker, knowing me and knowing the details on the transaction, knew that the accusations were baseless and let it go.

But since I'd been told that these buyers actively disliked me there seemed no point in trying to establish a relationship!

I got a call from those buyers this week about potentially selling their home. Strangely enough, the agent who sold them the home is not getting a call.

My point here today is that you should never make assumptions. I should have attempted to get in touch. I shouldn't have assumed that what someone said to me in the heat of the moment was, in fact, gospel!

And, real estate agents should not let their relationships become overly adversarial. Generally speaking once there's a contract in place, both parties have the same desire, to execute that contract! There's no reason for real estate agents to let emotions get in the way of professionalism. And, yes, I've been guilty of that once or twice myself! Sometimes I'm preaching to myself!

I don't know yet whether I'll be marketing this house for the owners. But I know there's already a happy ending in my eyes. I've gotten to know some very nice people! And that almost didn't happen!

In Virginia a seller can choose whether than provide the would-be buyers with a property disclaimer or a property disclosure. I say "in Virginia" because this is fairly unique in the real estate world. In most states a disclosure statement is a must.

So, what are these two documents and what do they mean to you as either a buyer or a seller?

The property disclosure is a document that goes through all the major systems of your home and asks you what you know about them. It asks about problems you've encountered and fixed, the age of certain items, etc. While it is not an exhaustive inventory of everything connected with your home and the history of each item, it certainly can provide a substantial amount of information.

The property disclaimer is a much shorter document. Just about the only actual information it provides is whether or not the property is in a historic district. As far as the condition of the house goes the disclaimer says that the owner makes no representation as to the condition of the home. In a nutshell, it says the buyer is on his own.

The vast majority of sellers in Virginia elect to use the property disclaimer. And that's not entirely surprising. It requires less work on the seller's part, certainly. Check whether or not the property is in a historic district and sign your name! You're done! No need to rack your brain on when it was that you had the air conditioning unit replaced.

The other reason I'm frequently given for not using the property disclosure is that people are afraid of being sued over an honest mistake. While I've never personally seen a lawsuit based on a mistake on a disclosure, it's hard to argue that in our litigious society someone, somewhere, someday might not be tempted to sue. I'm not a big fan of fear-based decision making but it is a big factor in why most people choose the disclaimer.

One instance when I would definitely suggest a disclaimer makes more sense is when you are selling a home you do not occupy. If, for example, it's an investment property that's been rented out, the odds are you don't know everything that's going on with the home. It's best not to guess. And, even if you moved out two months ago, houses do not stay the same over time! Again, this is a good time to use a disclaimer.

If you're a buyer and see a disclaimer, I wouldn't assume that something's wrong with the house. Clearly there are a lot of sellers using disclaimers for reasons that have nothing to do with the condition of the property. However, if you do happen to run across one where the owner has used a disclosure I think it's potentially worth assigning some extra weight to that fact.

What have your experiences been with disclaimers and disclosures? If you moved to Virginia from elsewhere in the country were you surprised at the lack of mandatory disclosures here?