A Study about Misrepresentation
Introduction:~ When the local building department turned down the request for a new structure, the buyer was shocked, disappointed, dismayed, alarmed, angry, and looking for someone to take responsibility for his decision to buy. It takes no imagination at all to be able to guess who the ‘fall guy’ was to be. It was the agent who had been so confident that the buyer could do as he pleased with his own property. However, under the property ran sewer lines, water lines, gas lines and utility lines that would be covered by the new cement slab for the garage! To move them would cause an expense so great that, to the buyer, the perfect property was now worthless.
Today’s Average Consumer:~ It has been said by some, “You’re not in real estate until you have been sued!” If you believe that, you clearly recognize that real estate is a risky business. If you have ever been sued, you’ll agree that it is a most unpleasant experience. It is timeconsuming, expensive, and emotional. It affects relationships, and can have ill effects on your reputation and career. What the above statement implies, but doesn’t say is, “At some point you will make a mistake that may cause someone harm.” In other words, at some time you will fail to meet the expectations of someone you are dealing with. Generally speaking, disagreements won’t arise unless an expectation is not met. Most litigation claims arise out of misunderstandings of relationships and property condition. Keep reading…
