Buyer51, Home Owner in Woodbridge, CT

Why do realtors lie about homes in foreclosure?

Asked by Buyer51, Woodbridge, CT Mon Apr 19, 2010

I cannot see why they want you to pay for inspections on a house you cannot purchase. I would sue, but then I would have a hard time getting a mortgage. Do I have any other recourse?

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8
Karla Walters, Agent, Sapulpa, OK
Fri May 13, 2011
I can't see any gain for a realtor to "Lie" about a home being in Foreclosure. I can understand not knowing if it has gone "into" foreclosure. I don't understand the premis of doing an inspection at this time. There is a period of time during foreclosure the owner of title has the right to "pay up and make current". There are also delays in the final foreclosure since the Banks nees to determine if it truly "qualified" with all the rule changes. When a house is going to Auction, they have there own quidelines for inspections, typically they are done prior to the sell. Was this under those conditions? As far as a lawsuit, small claims wouldn't conflict with a mortgage as long as you are the Plaintiff. Do you feel you were co-ersed into inspections and couldn't say "No" to inspections? You should expound on the situation. If the Bank does take back the property, the inspections could work as an advantage for you and the Bank when/if the home is made available for purchase.
0 votes
Chris Senn, Agent, Enterprise, AL
Fri May 13, 2011
Never do a home inspection on a home you have not been able to get an accepted offer on. A foreclosure is a beast all its own, but there are still guid lines you would want to always follow. Foreclosure or not, wait on the home inspec, till you know you have a deal IN WRITTING. A home inspec is always a great great idea, a foreclosure is not always the best idea but can be. Each one is its own special case and each market is a little different.
0 votes
Elliot Sirota, Agent, Windsor, CT
Sun Apr 25, 2010
Why would you pay for an inspecition before the offer was accepted? Is this the case or something else, very confusing question you are asking. 2nd part, suing someone would have nothing to do with getting a mortgage in the future.
0 votes
Don Tepper, Agent, Burke, VA
Mon Apr 19, 2010
Make your offer contingent on an inspection. Then, if/when your offer is accepted, you have it inspected.

There are times when you might want it inspected before making an offer. For example, if there's a possibility of major structural damage and you need to know whether you're looking at a $10,000 repair or a $70,000 repair, then it'd be difficult to make an intelligent offer without knowing more.

I'm not sure who you would sue. You could try to get the agent's license revoked if he/she did something wrong. But to sue, you'd have to show monetary damages.

Further, suing wouldn't have much of an effect on you getting a mortgage. Being sued is a different matter--then there's an unknown liability hanging over your head. But suing someone else? That shouldn't be a problem.

As far as pursuing (in any way) a house you cannot purchase: Don't do it. If you can't buy it (because it's not for sale, because it's way over your price range, whatever), then walk away.
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Mon Apr 19, 2010
I am glad I am not the only one who is somewhat confused by what your problem is.

Just what exactly do you preceive was done to you? For what do you want recourse?

Perhaps with more clarification, we can offer more help!
0 votes
Emelia Sanch…, , Ontario, CA
Mon Apr 19, 2010
Inspections on a house you can not purchase? You don't obtain inspections until your offer has been ACCEPTED. The inspections are so you can make an informed decision based on the findings whether you wish to continue with the purchase or not. You can waive your rights if you want to save the money, but it is not recommended. I feel there is something missing in your question.
0 votes
Ron Rovtar, Agent, Boulder, CO
Mon Apr 19, 2010
Like Kent, I'm not sure what the untruth was here. Generally, if you feel an agent has not treated you fairly, the first person to talk to is the agent's broker. If you get no help there, the state real estate commission is a good next step.

Best,
Ron Rovtar
0 votes
Kent Gagon, Agent, Chandler, AZ
Mon Apr 19, 2010
Buyer51,
What are you being lied to about specifically? I am a bit thrown by your question would love to help but need clarification. If you are being flat out lied to perhaps you should consult an attorney...
0 votes
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