Real estate blog entries tagged with listing agent by Lynn Arends - Attorney | Designated Broker (Lynn Arends Law Group PLLC & Lynn Arends Realty Group)

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Home : Blogs : Lynn Arends - Attorney | Designated Broker : Lynn Arends - Attorney | Designated Broker 's Blog : Tag "listing agent"

listing agent: Listing Agents: Beware?? - 11/16/10 05:48 PM

Q: In a short sale, do Listing Brokers have a duty to disclose how far underwater the Seller is?
A: If you're in California, the answer may be "yes".
In Holmes v. Summer, G041906 (Cal.App.4th, filed October 6, 2010), a recently decided California appellate case, the court ruled that the sellers' brokers can be held liable for damages and costs incurred by a buyer in a failed transaction when the existing debt on the property exceeded the sale price. The court found that the brokers owed a duty of disclosure to the buyers.
No doubt, Holmes was an extreme case--three deeds … (0 comments)

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Lynn Arends - Attorney | Designated Broker

Seattle, WA

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Lynn Arends Law Group PLLC & Lynn Arends Realty Group

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