While buying my new house I asked the selling agent who owned field and trees behind us and if there were any plans for the land. Was told by the selling agent that the church across the street owned it and there were no plans for the land. 3 weeks after i moved in construction has started on building townhomes on that land that will back right up to my backyard. We now know a developer owns the land and there have been plans for 2 years now to develope this land. If i would have known this i never would have bought the house. Could this be considered fraud?
2007-05-29 09:31:19 · 11 answers · asked by hobbes1219 1 in Business & Finance ➔ Renting & Real Estate
Sure, but can you prove it? If not, you are screwed...
2007-05-29 09:34:30 · answer #1 · answered by Nathan 4 · 0⤊ 0⤋
Not likely.
You will have to PROVE that the broker (selling agent) knew and that the broker had a DUTY to tell you.
Since the agent works for the seller - it is unlikely that you will prevail in court.
You can sue - but you are likely to lose the case and all your attorney fees.
You should have checked the public records yourself if it was a real concern. All real-estate contracts are recorded in public records.
Also - even if you had checked - the Church could have sold the land to the developer seconds after you checked.
Your only protection would have been to buy the land yourself.
2007-05-29 09:39:40 · answer #2 · answered by Cumjunkie Doner 2 · 1⤊ 0⤋
The agent was correct in asking you what the price was on your home. If he doesn't know this, he can't construct an offer. Your state may have a "single party show" contract (CA does) that states you only pay the agent a commission if you sell (insert name of the buyer) their home. Most agents won't write an offer without it for a FSBO property. Also, not hearing from them for a couple days is par for the course in real estate. It's a big decision and sometimes after people think about it, they change their mind. When an agent tells a seller of mine that his buyers may be writing an offer, more times than not, they don't and the seller gets very upset by this. I don't see anything fraudulent going on here. To protect yourself, you really need to list your home with a Realtor. That's the only way you can avoid these kinds of things.
2016-05-21 00:44:22 · answer #3 · answered by clare 3 · 0⤊ 0⤋
Maybe incompetence.
The agent should have suggested you check with City Hall to see what plans there are with a property. The plans change and the agent and owner may not have ever paid attention.
If they knew and lied to you then in some states that might lead to a triple damages lawsuit. You would probably have to show they knew, show that it damaged you, and their best or only defense would be to show that they disclosed it to you. (A signed disclosure is usually what they do that).
But most of the time the Realtor will just not know.
When I ask about vacant land the stupid answer I usually get is "It's been vacant the whole time I have been here".
2007-05-29 09:40:54 · answer #4 · answered by glenn 7 · 0⤊ 0⤋
Probably not. You would not be in a situation to show any loss unless you can prove that the value of your property has decreased substantially due to this development. As a broker, I generally tell customers what I know about the property, but always add a disclaimer than ownership and plans can change at any moment.
Perhaps your realtor was working with outdated information, or was giving you information provided to the realtor by someone else ?
At any rate, proving some sort of fraud will be very difficult for you.
2007-05-29 11:04:35 · answer #5 · answered by acermill 7 · 0⤊ 0⤋
YES~! #1 rule for real estate agents is disclosure! if they dont know the answer they should tell u they dont know but lying and not disclosing the truth is considered FRAUD! contact the state department of real estate licnesning. report them to the department of the state, the seller, agency, etc. describe the situation, the state will investigate your claims and can be grounds for this agent being fined and losing their license. thats completely wrong that they misled you, im sorry and hope this will stop them from lying to others in the future.
2007-05-29 09:37:42 · answer #6 · answered by spadezgurl22 6 · 1⤊ 0⤋
You have to prove that the real estate agent KNEW they were lying when they answered your questions. They COULD have been answering in good faith - to the best of their knowledge. They MIGHT have been relaying info from the seller, who ALSO was answering in good faith. THEY didn't do the research, but neither did you.
So whether or not it's fraud, I think you'll have an impossible time proving it.
2007-05-29 09:42:19 · answer #7 · answered by Anonymous 7 · 0⤊ 0⤋
No. It's considered "non-disclosure," but is still unethical and illegal. You could, due to the fact that you were outrightly lied to, seek compensation. Contact an attorney who specializes in real estate law.
2007-05-29 09:36:27 · answer #8 · answered by Enchanted 7 · 0⤊ 0⤋
i bet you bought a new house. you have to know that just about any time there is a track of new houses that there will be another track and another and another. they probably told you there was going to be a play ground built too. or there is one already.
real-estate agents are the worst kind . well they are up there with thieves..
2007-05-29 09:56:13 · answer #9 · answered by Anonymous · 0⤊ 1⤋
I'd check with an attorney. Usually most have a free initial consultation.
2007-05-29 09:34:40 · answer #10 · answered by Ronin 4 · 0⤊ 0⤋
Fraud, probably not. Incompetence, probably. Consult an attorney if you are trying to seek compensation.
2007-05-29 09:46:33 · answer #11 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋