In short, it is unethical and a violation of Real Estate License Law to knowingly post false or misleading information when marketing a property. Your first call should be to your real estate attorney to make sure they can take action in regards to the contract.

The previous respondents are correct. Recourse on the agent/broker depends on how this happened. You should start a discussion with your agent and their managing broker. They can start the inquiry into the listing firm and get their answers on the record.

Once you have sorted out who is responsible for the error, seller or agent, perhaps the responsible party will be willing to make some concession to you. I'm sure your attorney can provide you with any number of legal options.

Best of Luck.

Hi Amanda,

I agree with most of the other agents who replied, in that, obviously it's hard to respond without all the information. That being said, the listing agent should definitely get the tax information from the tax records and not just take the sellers "word for it" and obviously not mislead buyers in any way. One situation could possibly be that the previous owner had a Senior Exemption and/or Senior Freeze for the property, which the new home buyer would not receive (unless you're a Senior and applied). All of this information is public record and should be conveyed before closing. Unfortunately, your agent did not do his/her due diligence in finding this out (unless it was a dual agency situation).

If you have any other questions, please feel free to contact me, our office is right in Oak Lawn.

Good Luck!

Kai Grant
The Grant/Levis (Widel) Team
708-567-4101 cellular
http://www.ATeamAbove.com
mailto:kai@ateamabove.com

Some areas re-evaluate properties every few years. Some adjust as properties are conveyed. You closing attorney, escrow agent or your Buyer's agent should have comfirmed the information before you closed. Do you have escows with the mortgage lender for taxes and insurance?

Amanda,
Sometimes you get inaccurate tax information. Alot of times with those foreclosures and short sales the taxes are wrong. I would need to know more about the situation. Like did they know what the taxes were, and deliberately made them lower to sell the house? I have had a situations on commercial properties were the taxes were a lot lower than what they would actually be, but the lawyer found out right away, and we were able to get out of the deal. I am sure you will be get out of the deal, but I dont know about legal action against them. Hope this helps a little. Good luck!

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
708-250-2696
mlamericorp@aol.com

If there is a "signifigant" difference that would greatly impact your monthly payment.....of course you have rights. Have you actual proof of the current taxes? Have you discussed this situation with the manager of the real estate office in which your agent works from? Is this the sole reason you want "out" of the deal? Is the seller aware of this situation? Was there a reason given for the error.....not that it makes it ok....I am just curious as to why they were incorrect??

Wow! Amanda, I am first sorry that you are dealing with someone like this. There are always bad people in any business and if this is true I ask you to move forward and see he/she is not in our business.

IL license law is based in the IDEA that the agent can not miss lead or lie I would think there is a a legal issue.

If the real estate agent is a Realtor you have a case with his/her board. There would be a possible ethics volition.

Now, please don't think I am saying yes this person is guilty. There is a lot of information I don't have so I can say if the agent did or didn't do something wrong but base on the statement her I think you have something that needs to be followed up with. I think your best area to start is an attorney and the agent board that he/she belongs to if a Realtor.

I have an excellent Real estate Attorney if needed?