How can I make a claim on a real estate agents errors and omissions insurance?
Posted on January 8th, 2010 in Renting & Real Estate | 5 Comments »
Racer X asked:
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.
Benanke Interest Rates
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.
Benanke Interest Rates
5 Responses
Maryland Real Estate
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.
Marathon FL Keys rentals
Be sure to ask a lawyer, be careful, or you may end up the one being sued.
Pikesville Homes
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…
Malibu Real Estate
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!
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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.