Posted by dutch on August 30, 2006 at 11:15:44:
I am glad they lost their license. I am a realtor also, as well as an investor. they broke the law and should go to jail too.
Just my 2 cents, worth the price you just paid for it.
Dutch
okhomesavers
R/e agent lost license for practicing law - Posted by Max-Va
Posted by Max-Va on August 30, 2006 at 07:02:00:
Just to inform you all about a case here in VA.
A buyer in the market for a property went to an open house held by the listing agent. The buyer liked the house and wrote an offer using subject to financing and submitted to the listing agent.
The listing agent told the buyer that it was illegal to do this and she was not going t be a part of defrauding the seller. The buyer then presented the offer to the RE broker, which told about the same thing and worte as much on the offer the buyer had written.
The buyer was a very experienced RE attorney from Northern VA who filed suit against the agent and her broker. I believe, failure to present an offer and practicing law without a license were the charges.
The agent and the broker have their licenses revoked and a hefty fine was levied.
This case should serve as a warning to an industry that is quick to call anything creative illegal.
Re: R/e agent lost license for practicing law - Posted by Natalie-VA
Posted by Natalie-VA on September 06, 2006 at 10:00:18:
Max,
Thanks for sharing. Do you have any reference material on this? I would like to read more about it.
–Natalie
Got any citation or specifics? - Posted by Bill P
Posted by Bill P on August 30, 2006 at 12:05:58:
Please provide specific reference such as legal citation or case name & number.