A buyer asks if a property is subject to special assessments, to which the seller assures it is not. What should the buyer's agent do?

When a buyer inquires about potential special assessments on a property, it is crucial for the buyer's agent to encourage further investigation regardless of the seller’s assurance. Special assessments can be imposed by local governments or homeowners' associations for specific improvements or services, and they can significantly affect the overall cost of homeownership.

By advising the buyer to investigate special assessments, the agent ensures that the buyer makes an informed decision based on complete and accurate information. This proactive approach helps safeguard the buyer's interests, as relying solely on the seller's statement may lead to unexpected financial obligations after the purchase is complete. Conducting due diligence, such as reviewing public records or asking local authorities, equips the buyer with essential knowledge about any assessments that might impact the property in question.

This practice aligns with the agent's responsibility to protect and promote the best interests of the buyer throughout the real estate transaction process. It also highlights the need for transparency and due diligence in real estate dealings, ultimately contributing to a more informed and confident buyer.