Have you ever had a buyer sue you? I haven't and I'm glad for that, but more and more people are starting to sue when things don't go their way. In the last two weeks I've read of at least three cases where a person who bought a property in 2005 and 2006 were now suing their agent and the appraiser for paying too much for their homes.

There's another situation where people are suing a person who agreed to do a lease option with them because at the end of the lease they decided not to buy and now wanted their option money back. What part of option did you not understand? You were buying the right to purchase the home at a certain price. You don't expect you deposit back when you put something on lay-a-way at a store do you?

So far I haven't heard of anyone suing a lender for giving them the loan or the underwriter for approving the loan, but I'm guessing that will be coming. When did we, in this country, become so egotistical that we blame everyone else in the process for the mess we are in now.

I've read some fun debates on Activerain in the last couple weeks about who is to blame, but every one of the short sales I've done in the last year have had nothing to do with the original loan or the home. It has to do with the person losing their job or getting behind because of a medical problem, divorce or in once case a death. Now, these are all things the Realtors or the mortgage brokers could not have controlled. So, do we blame someone else?

How about we just work together to fix the problems that are plaguing real estate right now and stop pointing fingers at each other and trying to take each other to court? I think the public is taking a long hard look at all of us right now. I think we just need to worry about what we need to do to fix it instead of trying to figure out who is to blame.



Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739

 

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6 Comments on Surely people wouldn’t do that? Yes they would, and don’t call me Shirley

Todd,

We really are very litiguous society. Often it is very opportunistic and quite often is frivolous. ANd frivolous lawsuits are not always the ones that are being thrown out.

The notorious suit against McDonald's for hot coffee was, in my mind, absolutely frivolous, but with a price tag of $28 Mil this was a king of frivilous.

 

07/21/2008 11:10 PM by Jon Zolsky (FunCoast Realty LLC)

Todd- In the last 3-6 months, I've read at least 3 stories about a homeowner attacking, shooting, or otherwise trying to do harm to the agent who sold them their home.  Like you, I'm not sure where it is written that we are entitled to always succeed or someone else must pay. 

07/21/2008 11:16 PM by Erik Hitzelberger, --Louisville-Bullitt County Real Estate (RE/MAX Alliance)

Unfortunately, there are too many people who choose to focus on problems rather than opportunities.  If you consider these buyers who are deciding to sue...with their intellect, would they sue if their property doubled in value?  They should, shouldn't they? It is so easy to blame others when whatever our problem is can really only be fixed by ourselves.  People want to take credit for the good, and give blame for the bad.  Those who are courageous enough to identify their own mistakes and take ownership are the ones who will come out on top.  Even bigger are the ones who can say, "okay that was a bad decision, but I've learned from it and will make wiser decisions in the future"    This doesn't only happen in business dealings.  It happens in life too.  Think how many people involved in a divorce have so much negative to say about their ex.  Great post! 

07/21/2008 11:18 PM by Jignesh Patel (HH)

Hey Todd,

Leslie Neilson, right?

Anyway I'm in agreement with you on this one. In 38 years full-time as a REALTOR we do our best to keep our nose clean, however I've been sued once as an agent and once as a broker-owner of other agents.

We do everything we possibly can to avoid that happening, even when it seems unwarrented in our opinion. I like what you said about " How about we just work together to fix the problems that are plaguing real estate right now and stop pointing fingers at each other....makes sense to me.

07/21/2008 11:24 PM by Orange Co. Real Estate~Lynda Eisenmann, Broker-Owner, CRS,CRB,GRI,SRES, Brea, CA (Preferred Home Brokers)

Todd, I always wonder why we can't just get a long and work it out.  Try being in CA, the biggest Real Estate bubble there was PLUS the sue happiest state in the union :o( 

07/22/2008 12:36 AM by Cristal Drake - Fullerton Area Realtor (Re/Max North Orange County)

Todd - there are far too many people out there looking to lay blame on someone else for their problems when they should be looking hard into the mirror to discover the real root of the problem.

07/22/2008 09:09 AM by Judy Tuscano, NH Real Estate Professional (Prudential Verani Realty)

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Real Estate Agent: Todd Clark (Realtor), GRI (Washington Co, Beaverton Oregon) (Kastings & Associates, Beaverton Oregon Real Estate)
Todd Clark (Realtor), GRI (Washington Co, Beaverton Oregon)
Beaverton, OR
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Kastings & Associates, Beaverton Oregon Real Estate

Office Phone: (503) 524-9494
Cell Phone: (503) 524-9494
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