When Your Real Estate Agent Gives Legal Recommendation
By: adam howard
Submitted: 2010-08-16 01:30:39 | Word Count: 520
Property agents are in the sport of buying and selling homes. At their core, they're sales folks and rightly so. Given this reality, you wish to be very leery of any agent that provides legal advice. Why? They haven't got a clue and are doubtless breaking the law.
You attend read a home and spot the owner has done a heap of custom work. You're keen on it. The home is unique and amazingly so. You set in an offer through your land agent. When some haggling, a deal is reached. Escrow gets underway and then a drawback arises. The appraiser notes the house has a lot of square footage than recorded within the county records. It becomes obvious the owner did the customization without getting permits. It also becomes obvious that a number of the work is not up to code.
At now, the deal should either die or the seller should be giving major monetary concessions. You're not really positive what to do. Your agent tells you to take the concessions. She has seen this before and is aware of that the building department can okay the home. If not, you'll be able to invariably come back back and sue the owner for breach of warranty and contract. Taking this recommendation, you go ahead and get the home.
After taking possession of the home, you're told by a building inspector [*fr1] the house will need to be torn down and rebuilt to meet code. You're outrages and speak with an attorney about filing a lawsuit against the seller. The attorney looks at the deal, notes all the disclosure done by the seller and therefore the concessions on price. Guess what, you have got no legal remedy. Everything the agent told you is wrong.
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This type of scenario plays out repeatedly. Realty agents are famous for giving out legal advice relating to problems they have no business discussing. They're versed in the apply of selling and shopping for land, not offering legal opinions. To the present finish, a lot of than a few assets agents have been sued for "the unauthorized follow of law". Within the state of affairs on top of, the buyer would after all be able to sue the important estate agent and successfully so.
In reality, most real estate agents offer legal recommendation without very considering it. They additionally do it while not malice. They are simply trying to create a sale. While they will incur liability for doing therefore, it is incumbent on you to comprehend that an agent isn't a lawyer. If there are legal issues related to a real estate matter, you must speak with an attorney to get accurate advice. Otherwise, you're taking a large risk.
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