 |
'Agent Bought the Property |
| |
 |
After I sold my townhome, I learned that the agent showed the home to his wife and in turn she purchased it. They both moved into the home. The agent took his full commission at closing and did not tell us up front that he was actually buying our home for his own living space. Was it ethical or legal for him to do this and take a commission (thereby reducing the price he paid for the property)? |
| |
| |
 |
Based on what you've told me:
The agent was legally required to disclose the situation before you signed the sales contract. In addition, there is some question about whether he violated his agency by accepting a commission when he also represented the buyer without telling you.
State laws differ about the Law of Agency these days, and I'm not sure what remedies are open to you or which you would want to pursue. A discussion with a lawyer who specializes in real estate might be a good idea at this point. |
| |
|
Edith
Originally published on August 31, 2007 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
