If you recall from my blog post in February (click here to read), a homeowner sued her real estate agent for not informing her that there were cheaper houses sold in the same neighborhood. She claimed this caused her to spend $175K too much for her $1.2million home. A jury wasted absolutely no time in determining that she was wrong and that the real estate agent had no duty to provide such information. If you are in real estate in any capacity (you must be, otherwise you wouldn't be reading this) please take 5 minutes to read the initial post (click here) - then come back to this page and let me know whether you think the jury got it right. Anonymous posts are acceptable. The bottom line in my opinion is that YOU, as homebuyer, are responsible when sign on the dotted line. Do your homework and ask lots of questions before pointing your finger at your agent - or your lender - when things go bad for you.
It's the whole "Buyer Beware" over and over and over again. This society has become so persistent on blaming everyone else for their actions, take responsibility for yourself! How can you spend a great amount of $$ an not fully know what your getting into. Hopefully next time she'll do a little more research before she screws herself.
Posted by at 11:02:41 AM
4/18/2008
At first I assumed it was a cash purchase otherwise I am sure the buyer would have went after the Appraiser and underwriters etc. however I read in the article:
"She also contends that the agent was involved in manipulating the lender’s appraisal for the mortgage loan, since he was also the mortgage broker."
Interesting....
Posted by Mike Didier RE/MAX United at 11:13:22 AM
If you recall from my blog post in February (
