. Our purple envelopes keep us in touch with Buyers and Sellers..they know how to find us and very often the continued communication results in continued business.
This time...the former distressed seller told us that she was being sued by the buyers of the home she short saled...TWO YEARS AGO !
The suit lists :"defects" in the house allegedly that the Seller knew about and chose not to disclose.
We have closed hundreds of short sales and one of the things about which we are always careful about...regardless of whether the home is "short" or not...is the protection of our Sellers.In additiom to the literature we give the Selling agent...and the MLS explanation...we also had a lawyer write a special addendum ...signed by both Sellers and Buyers basically explaining in part that this was an "as is" sale. Buyers are welcome to do an inspection of course...and that can be their "out" if the inspection reveals something that they decide is not acceptable. We had a copy of the addendum signed by all parties and forwarded it to our Seller letting her know that if she needed us to appear in court, provide an affidavit...be deposed...we were there for her in any way we could assist her in this action.
To our minds...the Buyers have a "conscience and ethics" problem....and we feel the same way about the lawyer who would take on such a case, We always say, if there was one legal opinion, there would be one lawyer...this io us is certainly an abuse of the system by both the Buyers and the lawyer pursuing such an action.
We are required to keep records for seven years...and hope that the documentatioin we provided causes the judiciary to dismiss the suit as being frivolous. Stay tuned...the legal system does not move quickly.
This has been a cautionary post...for agents to keep careful records..for Buyers not to pursue legal action that has no merit...and to the people who represent them to think twice before taking on such an action.
Amen and Women, Sally K. & David L. Hanson, Broker Associates with ExP Realtors honored to be of service for all things real estate in southeastern Wisconsin.
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