How Do Real Estate Agents Conceal the Identity of a Buyer?
There are many reasons to hide the identity of a buyer. Some people don’t want their name to be associated with their home address, including police officers, celebrities, and victims of domestic violence. In any case, hiding the identity of a buyer can be done by anyone with access to Google. The real question is, how do real estate agents manage to hide the buyer’s identity? There are a few steps to follow when trying to hide a buyer’s identity.
A dummy buyer is someone who buys property in another person’s name. Often, these are famous people who want to avoid a spike in the price of their homes. In order to avoid this, they employ a dummy buyer to purchase the property. Another option is hiring a dummy buyer to avoid being identified by the real buyer. While this may seem like a bad idea, it’s actually quite common.
Disclosing problems on the property is critical to a buyer’s decision-making process. Real estate agents must disclose known defects and hazards to other parties. In some cases, a seller has no incentive to disclose potential headaches. However, listing agents encourage sellers to fill out a seller’s statement of property condition. This checklist identifies problems such as lead paint, plumbing, and zoning. Although sellers are not legally required to fill out this checklist, it is important to include zoning issues and septic tank condition.