Undisclosed debts or encumbrances are bad news for a real estate deal.
This could result in:
- A deal falling through at the last minute, or
- The deal going through, but there not being enough equity available to pay your real estate commission.
Either way, it’s a difficult position for any real estate professional to be in.
Make sure you’re protected early on with this one secret you’ll want to have in your tool belt. Find out what it is on the GeoWarehouse blog: http://www.geowarehouseblog.ca/real-estate-seller-real-estate-commission/