Double and Triple Check that Home Listing

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Every buyer, seller, and real estate agent knows a loosely worded listing for a property on the market can lead to expensive and stressful litigation for all parties involved. I am specifically talking about a listing in the Dallas, Texas area where a home was listed as a diamond in the rough which the buyer did NOT construe as a fixer upper.

This alone did not really constitute grounds for a lawsuit. However, what was not disclosed in the listing was a highway construction/widening project 4 months down the road along with the addition of a commercial center very near the residential zone in which the residence was located.

Jennifer Allan, a former realtor in the Denver area, wrote a book which mentioned and described this type of caveat. She wrote about how a homeseller was not kept in the loop by the sales agent, meaning the realtor modified and edited the listing without the homeowner’s stamp of approval.  There was some significant errors and omissions which led to the seller being held liable and eventually paying an expensive settlement out of court to the new home buyers who suffered significant reduction in property value! I believe the old home owners turned around and filed a lawsuit against the careless agent. Not sure what the result of the nasty chain of litigations was.

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2 comments on “Double and Triple Check that Home ListingAdd yours →

  1. It is a two way street with respect to court action realtors have been known to sue their clients in order to collect commission they would have made AFTER THE SELLER BACKED OUT. Read what Mary Kidwell, an agent, in Knoxville, TN has to say about it. Kelly Cleven is much more understanding about cold feet from the potential homeowner’s point of view.

    Unbelievably, an agent can sue you for not accepting the biggest offer for a house! STEVE MCLINDEN writes about this. All the more reason to bypass the services of a real estate agent.

    Also Frank O. Brown, Jr. tells us about “lis pendens” which really means pending lawsuit in Latin. It is essentially a notice of possible litigation that can be recorded at the title company or in the court records to scare away possible frivolous legal wranglings!! Be sure you have a basis before filing “lis pendens” as in can backfire on you if it has no basis and is frivolous itself!!

  2. The commentary of Daniels does not seem to impugn the integrity of realtors, however the comment strongly suggests that most real estate agents are NOT to be trusted.

    My cousin resides in Markam, Ontario Canada and had a fair and pleasant home buying experience with Honest Realtors agent Dinesh Ratnasingam. His colleague HomeLife Future Realty sales agent Shawn Thurairatnam is very transparent, informative, and extremely attractive. I get dripping wet just thinking about him showing us that property we could not afford. Cute and understanding guy. I want to have a baby with him!

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