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Possible Future Law Suits against Real Estate Agents

For years, the real estate industry has been one of the most progressive ones in most economies. It was inevitable that for such a lucrative field, some deceptive realtors would also emerge. Clients have been on the receiving end of deceptive real estate agents. 

If the trend of real estate agents who misrepresent their clients continues, then it is possible that lawsuits against them will not cease. However, there is indeed a substantial percentage of the agents who do the right thing and are intent on giving their clients the best possible deals. Hiring a good real estate agent is crucial as it will help you avoid some of the common issues in the market.

Some of the actions are discussed below:

Buyers waiving the appraisal

Buyers waiving the appraisal

Buyers often waive the home appraisal because it is a rather expensive process, and it slows down the buying of the new house, although it alerts them if they could be paying more than the actual worth of the property. Essentially, appraisals are meant to evaluate the house’s condition in terms of materials used, foundation, and the exterior of the house. 

A proficient real estate agent goes out of their way to inspect the property and note any defects before finalizing the sale. By having professionals do the evaluation, as is the case in Phoenix, Arizona, real estate, you are assured of due diligence.

Buyers waiving the inspection period

Buyers waiving the inspection period

Due to the competitiveness in the real estate markets, buyers opt to waive the home inspection for their offer to be more attractive compared to that of other buyers. While sometimes it may have no negative outcome, waiving the inspection period may cost the buyer more. Damages that could have been easily repaired can end up costing even triple over the years. 

A good agent should encourage you to be physically present for the inspection. For efficient realtors like Angelo of https://www.letmeearnit.com/, you are even assured of one year warranty if you choose to waive the inspection.

Poor representation of buyers

A diligent real estate agent will conduct a thorough investigation of the property and not just rely on what the seller says about the home. This helps in uncovering any lies and flaws immediately and not much later. Con real estate agents also tend to mislead the sellers on their property’s value and lead them to overprice. 

This results in the seller selling their property at much lower costs than if they would have just been correctly advised in pricing. Having a credible real estate agent will help you get your property’s worth without any tricks.

Breaching of contracts

A real estate not complying with the terms stated in the contract is ground for legal action. The client can file against agents who fail to deliver within the set time frames or who show negligence in their work. 

It is essential to hire an agent who takes time to discuss the clauses and terms within contracts for transparency and avoid future legal actions.

Conclusion

All forms of misrepresentations are considered civil offenses and are dealt with in civil courts. Hiring a credible real estate agent will save you both time and money to get the proper guidance. Be wise; invest in quality realtors!

Angelo

Let Me Earn It Owner Angelo Sbrocca Has over 35 years experience in Real Estate and business and extensive knowledge of the area

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