Expert: Dick Dennis - 3/20/2008

Question
HI, dick, We bought a home an yearand a half ago using a realtor who is the chairman of board of realtors. Since this was our first homeand  we din't know much we relied on him too much. We are the second owners on the house.We recently found out that this home was built by a notorious builder who had few lawsuits against him. We are having some problems which is requiring us to spend some major money.MY question is does the realtor have a liability to disclose information which can make the house less desirable to the propective buyer.I do understand that the seller also failed to disclose this information but the realtor who we trusted completely in good faith and who I am very sure was aware of the builder's reputation as he lived in the same community all his life failed to educate us enough to make an informed decision. Can we go after the realtor for this?
Thank YOU
really troubled by the realtor

Answer
That's really rare that the chairman of the Board of Realtors would be so neglectful, Fera. There is a form that the Realtor should have had the seller sign and disclose any problems with the property of which he might know. But if the seller did not know of any problems and/or the seller did not disclose anything it to the Realtor in that form, the Realtor may not have any liability.

Therefore, if the work that is required is more than $7,500, you should consult with a REAL ESTATE attorney and let him or her get to the bottom of this.

If this was a foreclosure situation, you should have been advised and if that is the case you should have had an inspector check the property from top to bottom and the Realtor should have advised you to do so (you should have had the property inspected in any case). However, if the Realtor was the one who represented the Seller and sold you the house and you did not have a Realtor representing your interests, then for sure you should have a real estate attorney look into this.

If the work required costs less than $7,500, then you should take the matter to small claims court. But you first have to pay for all the cost (or have an expert give a valid estimate of the cost) before the judge would hear the case. I do wish you well.

Dick Dennis       dixiedee13@aol.com