At a closing on Tuesday, my buyers for a condo in Elk Grove discovered something purely by accident. During the final walkthrough the furnace didn’t look like it had been cleaned as was agreed to after the inspection. The buyers brought this up at the closing and an agent from the listing brokerage provided receipts showing that the furnace had been cleaned. However, on examining the receipt one of my buyers noticed that it said the furnace was 23 years old. The MLS (Multiple Listing System) sheet said the condo was built in 1992, 15 years ago. We checked the condo documents and found that the condo was built in the mid 1980s. The MLS sheet was incorrect. In fact, the MLS sheets for the 2 other units in the building we looked at were incorrect as well.
I’ve found lots of errors on MLS sheets. Just yesterday I pointed out to an agent that a house she has listed in Oak Park did not have an in-law arrangement as listed. Another recent listing for a house in Arlington Heights reported a full basement, but when I talked with the agent he confirmed that it was a partial basement with a crawl space.
Sellers, I can’t overemphasize how important it is to review your home’s MLS sheet. At a minimum, you’ll avoid embarrassment at the closing table.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
