Home Buying in 94608>Question Details

Contessa, Other/Just Looking in Oakland, CA

If you're a broker how would you handle an agent of yours being sued for nondisclosure? Would you wish to help negotiate, cover up for agent, or?

Asked by Contessa, Oakland, CA Mon Aug 15, 2011

fire? I purchased an REO duplex grossly represented by listing agent. He incited a bidding war based on false information, did not disclose broken water main/$250 water bills the firm was paying, and refused final walkthrough, among other contract violations. My buyer's agent was a mistake, too, and she was useless in helping me. She claimed to have spoken to broker who was defensive of agent. Now that I wish to sue, I'm curious what and who I am up against. I have evidence, of course, but no atty fee $. Disclosure of material fact is still required in REOs, which I know are exempt from other disclosures. This agent deliberately inflated the price based on known lies. I'm curious how far the broker would attempt to protect him, whether s/he would help settle or negotiate, and whether s/he would be interested in continuing to employ this agent after the suit and/or reporting to DRE. Thanks in advance!

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Answers

4
Contessa,

There are disclosures and REO agents and banks are limited to the amount of material facts they can disclose as they did not occupy the property. However your agent has the fiduciary responsibility to you as your buyers agent to advise and protect you by obtaining all the necessary property inspections at your cost of course. Your purchase contract that you signed if it is a California purchase contract will probably have all parties go through the process of arbitration. I advise you to obtain legal advise from a real estate attorney and start your buyer's agents broker first to try to resolve the issue. You should have a copy of all the disclosures from the REO agent and additional disclosures such as YOUR agent's visual inspection and disclosure advising you to get inspections and waiver signed by you not to obtain inspections if that is what you have chosen to do. I hope this helps. Let me know if you have any questions or need a referral to a real estate attorney who can better advise you.

Best Regards,



Barbara Brodrick
415-722-1569
0 votes Thank Flag Link Sat Nov 19, 2011
You might also want to file complaints with the local real estate association or the state board. Every state has it's own real estate commission.

Good Luck
0 votes Thank Flag Link Tue Aug 16, 2011
There's nothing we can say or do to prepare you, Contessa, for what's on the other side of your complaint.

You may be able to find an attorney that will take your case on a contingency basis.

All the best,
0 votes Thank Flag Link Tue Aug 16, 2011
I don't want to be the judge and the jury in your case, but if you have been done wrong it is infortunate, and when the public is hurt by one of us it does reflect on all of us, unfortunately.
Here are three sites you might want to visit.
http://www.car.org/
http://www.realtor.org/
http://www.dre.cahwnet.gov/
I do not like rotten apples but like justice.
0 votes Thank Flag Link Mon Aug 15, 2011
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