The real estate agent in question is a customer of my computer repair business, and I did a job for him the day this was on the news (this past Thursday). Is there any realestate agents here? If so, whats your laws like on this sort of action?
http://www.whotv.com/global/video/popup ... lipFormat=
A bit of local (Iowa) news
I really feel sorry for the people who bought the property. The agent should lose his license at the very least and face some sort of legal action for fraud and misrepresentation.
I built a new home in the Summer of 2005 and I have stories of fraud galore.
I built a new home in the Summer of 2005 and I have stories of fraud galore.
Money ain't got no owners, only spenders - Omar Little
I'm sure he will lose his license, he's lost it before... only this time it may be permanent. And I'm sure theres a lawyer somewhere that is contemplating how many millions to sue him for.
For the most part I posted it to help people out if they are thinking about buying land, so they make sure that they do their research first to avoid something like this.
For the most part I posted it to help people out if they are thinking about buying land, so they make sure that they do their research first to avoid something like this.
Last edited by fastkart on March 31st, 2008, 8:59 am, edited 1 time in total.
I think the responsibility lies on the hands of all parties involved, from the appraiser (likely in house for the real estate agent, as he does appraisals), as well as the agent, and title company. Even the buyer has SOME responsibility... didn't they take a look at the land before they bought? The reason the city does not have record of it is due to the city hall burning down in the late 70's or 80's.
I'm a realtor here in Texas. Under TRELA deceptive trade practices act, if the buyer can prove that the realtor/broker and seller knew about the properties history and did not disclose it, the buyer is due triple damages, legal expenses and punitive damages. Also, the inspector, appraiser, and title company could be liable as well. If this happened in Texas that is. I don't know the laws in Iowa.
"You should never drink Lone Star Beer and listen to Tim McGraw. It just don't work. It'll curdle. "
Dale Watson
Dale Watson
i am currently in a case involving deceptive trade practices. about a year and half ago, i moved into an apartment. not quite 2 months later, i returned home after a weekend with my girlfriend, the place was total chaos. a bunch inmates were moving furniture onto flatbed trailers. sherriff's deputies were standing guard with shotguns. i asked what the hell was going on. i was told to go to the office.
the manager gave me a letter explaining that the county was quarantining the apartment complex due to a bat infestation. the owners had know about this condition for years and had done nothing to fix it. they also had failed to include a disclosure form in the lease.
i was only given 12 hrs on a rainy day to move my belongings. i was forced to leave most of my stuff in the apartment. it was baorded up and i was told i could get the rest of my stuff in 1-2 weeks. 3 months later i got back into my apartment, it had been ransacked. my big screen tv, stereo, tools etc. were missing. plus my furniture and clothes were ruined due to mold. the owners had the electricity in all units turned off. you got to love this texas heat and humidity.
the owner has already been found liable and we are going back to court in June to establish damages.
the manager gave me a letter explaining that the county was quarantining the apartment complex due to a bat infestation. the owners had know about this condition for years and had done nothing to fix it. they also had failed to include a disclosure form in the lease.
i was only given 12 hrs on a rainy day to move my belongings. i was forced to leave most of my stuff in the apartment. it was baorded up and i was told i could get the rest of my stuff in 1-2 weeks. 3 months later i got back into my apartment, it had been ransacked. my big screen tv, stereo, tools etc. were missing. plus my furniture and clothes were ruined due to mold. the owners had the electricity in all units turned off. you got to love this texas heat and humidity.
the owner has already been found liable and we are going back to court in June to establish damages.
"You should never drink Lone Star Beer and listen to Tim McGraw. It just don't work. It'll curdle. "
Dale Watson
Dale Watson