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How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?

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How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?

Postby jeremi » Mon Sep 25, 2017 1:45 am

Several errors occurred in the sale of the home I bought that I believe the real-estate dual agent should have caught, but didn't. The most major was that the home was sold to me as a much younger home than what official records dictate--that was a primary consideration for why I bought the home. All of this is in writing. I may not have legal grounds to prove fraud, but a notable material misrepresentation is present and documented. How might I be able to make a claim against the agent's Errors and Omissions Insurance for the misrepresentation? Thanks for whatever help you can give me.
jeremi
 
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How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?

Postby Karlitis » Mon Sep 25, 2017 2:17 am

before you can make a claim you will need to file a complaint with the real estate commission in your state. they will determine whether an error or omission occurred. also try the national association of realtors website.
Karlitis
 
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How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?

Postby Tier » Wed Sep 27, 2017 2:30 am

I believe your claim (demand for restitution) needs to be against the agent and the agent's broker.
The insurance company usually requires that the broker and agent contact them when a claim is made.


Good luck!
Tier
 
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How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?

Postby Tupi » Thu Sep 28, 2017 3:01 pm

It varies, depending upon the laws in which state you live. Your best bet is to consult an attorney and he or she would then advise you on which action (if any) to take next. Good luck...
Tupi
 
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How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?

Postby Witton » Thu Sep 28, 2017 8:57 pm

Talk to a real estate attorney.
You may or may not have a case.
You would need to file suit against the agent/broker involved.
You will need to be able to prove willful misrepresentation iby the agent in an attempt to do harm.
Can you do that?

As far as the age of the house.
The Buyer should always double check information if it is important to them.
If you are going by something from a data sheet be aware that they do say "Information herein is deemed reliable but not guaranteed" and you can not sue for incorrect information on a data sheet.
Witton
 
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How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?

Postby Carbry » Thu Sep 28, 2017 9:36 pm

Be sure to ask a lawyer, be careful, or you may end up the one being sued.
Carbry
 
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How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?

Postby Leigh » Wed Oct 04, 2017 4:51 pm

Read your contract, I am guessing you had an option period and that has expired. When this happens the earnest money becomes hard. However, you must look and see if the contract is dependent on buyer receiving financing or not. The standarized forms used in Texas have a box that is checked one if it is conditional and one if it is not. If it was not, then yes, you can be sued and probably have very little defense for breach of contract. And as previously mentioned the agent DOES NOT get the money. It is being held by an escrow agent and wants you to sign the release, so the money can be transferred to the seller. Are you working with the seller's agent, or do you have your own agent? I can't believe your agent would not have this dependent on buyer financing. But if you are using the seller's, I doubt it would be contingent upon financing.
Leigh
 
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