Here’s a new twist to those boom/bust real estate markets, which some areas are facing.
Realtors are being sued by clients who think they paid too much for their houses.
You read that right. One of the first cases is from Carlsbad, California, where Marty Ummel believes her real estate agent did not inform her that the house she bought was the most expensive in the neighborhood.
So what about valuation? Who’s responsibility is it for proper due diligence, really? The real estate agent’s?
Folks, this is another area where it just gets scary to me.
Are these the same buyers who will often spend weeks, maybe months researching plasma T.V.’s but will obligate themselves for hundreds of thousands of dollars without checking out a few facts such as the price of the house next door ?
No wonder some distressed owners are facing big trouble.
But can they really blame that on the real estate agents? And if so, is it such a black and white area or are there plenty of shades of gray?