Just a great day for real estate agents to cover themselves with glory

One of the mortgage foreclosure lis pendens discovered in Town Hall today was against property just leased by this firm to a tenant which, of course jeopardizes their covenant of quiet enjoyment – banks like to toss tenants out of houses they’re foreclosing on. A call to the listing agent disclosed that she knew of the pending action while negotiating the lease and in fact knew that the action had commenced before the lease was executed. Can you say, “non-disclosure of a material fact”? Can you say, “bogus idiot collecting money for no service at all”? I certainly can.

8 Comments

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8 responses to “Just a great day for real estate agents to cover themselves with glory

  1. anonymous

    Creditworthiness is a two-way dynamic between counterparties, confirmed by competent advisors…whether a lease or a mortgage or purchase or any other trade

    • christopherfountain

      Damned if I know what that means, Anon, but I do feel that an agent who is aware of a pending foreclosure on the property she is listing for rent has an obligation to disclose that fact.

  2. New Buyer

    What exactly is the name of your new firm and do you have a website? Read lots of suggestions, but never learned the final name. Is your firm exclusively real estate or more?

  3. Walt

    Dude -
    Bernie did the EXACT same thing to me. Learn to deal with it. So if you did nothing wrong, I did nothing wrong. Right? RIGHT!!!
    So come on you big galoot. Give Uncle Walt a hug, and get off my FRIGGIN BACK!!!
    Your Pal,
    Walt

  4. Hu Nhu?

    Dumbest statement ever to appear on this blog:

    “Creditworthiness is a two-way dynamic between counterparties, confirmed by competent advisors…whether a lease or a mortgage or purchase or any other trade”

  5. Old School Grump

    I can imagine myself in this renter’s shoes. Pretty scary to have to assume your counterparty is dealing in bad faith until proven otherwise, and that ” your agent” is protected by some Official Ditz Excuse Clause you weren’t aware existed. Our friend anonymous-with-a-lower-case-”a” is always opining about the need to do due diligence on your landlord, and now I get it that he is right. (Still disagree with that used housing equals used underwear analogy, however. Hope I don’t have to come ’round on that one.)

  6. Anonymous

    If they had money, they wouldn’t have rented the property!

  7. Helsa Poppin

    Walt: touche.