An Artist’s Rendering

The first time I heard that line used by a developer to defend his not completing the development in the manner that the new residents expected, I was surprised. When he continued to defend the fact that just because the “Artist’s Rendering” of the neighborhood plan has been marketed on all the development’s literature, on the sign driving in to the planned development and on virtually every piece of marketing literature, that surprised me even more.  Never was it explained to anybody that the “vision” they were purchasing was just that – a dream of what “might be.”

The lesson learned? When buying in a new development, avoid dual agency.  Research the developer. Know that there is a risk that what you purchase may not be what you end up with. My expectation is that the reputation that some developers have earned over the past five to seven years will start to haunt them as they now need to depend on that reputation – and find it unworthy. Do it right. The first time.

Understand the disclaimer on the bottom of every MLS sheet:

–Information deemed reliable but not guaranteed–Copyright: 2007 by the Charlottesville Area Association of REALTORS®

Sure the neighborhood probably could have sued – but then everybody loses (except for the lawyers).

Hat tip for inspiration: Consumerist pointing to this NTTimes story (login required, but try bugmenot).

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