I just ran into this news article and thought it was worth sharing. Seems to me the buyers lawyer is chasing the biggest money trail. This is a scary situation for everyone involved. both realtors, inspector, mortgage company.
What was the seller thinking? Does anyone in South Carolina know details of this story? Seems to me there is alot more to it.
www6.comcast.net/news/articles/odd/2007/11/02/ODD.Moldy.Secret.Room/
I don't hear about this story but looked it up. If FannieMae has been dropped from the lawsuit I would think that C21 and the agent should be dropped fairly soon as well. It was not clear whom the agent represented but if the agent was the listing agent then she represented FannieMae in the sale of the home. It obviously was a foreclosure which means the property was sold "as is" with no disclosures as to condition or previous condition. Some banks now include a special mold addendum. It would be interesting to know if this transaction had one. As a REO broker this makes me want to go back and look at one of these and possibly add it to all my own transactions.
I feel for the agent and the company. I hope they have contacted their state association with assistance with this one.
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