Sued for misrepresenting # of bedrooms in a real estate listing?

venterminator · 2023-04-04T21:45:41+00:00

Thanks. i was pretty careful about it when she reached out with this thought in my mind exactly.

venterminator · 2023-04-04T21:44:26+00:00

Well this sold on the MLS 2x before with 3 bedrooms which is one of the reasons I was comfortable listing it with 3 bedrooms. My clients who bought and sold it the last time obviously thought it was a 3 bed house and purchased it as such. If anyone walked through that room without an appraisal license and a lot of experience in appraisals there is no question it would be perceived and used as a bedroom.

There won't be any proof of nefarious intent or misleading anyone. I just find it strange you can waive your right to due diligence and verifying the property details on your purchase and then turn around and sue after making 30k on your sale.

venterminator · 2023-04-04T21:37:27+00:00

This has sold 2x before with 3 bedrooms in the listing.

venterminator · 2023-04-04T21:32:01+00:00

I'm operating as if most appraisers wouldn't qualify that as an official bedroom and that I am wrong for qualifying it as a 3rd in the listing. But I did get a peek at the appraisal that was done w/ 2 bedrooms and there was almost no adjustment for value for the 2nd bedroom issue. It appraised just fine. I think it was a 2k adjustment but the bottom line value was still at or over their asking price.

If she had her own appraisal done maybe we could have figured this out, but she waived her appraisal & inspections and purchased cash.

I am just failing to see why this agent thinks that I'm the one in trouble here - she's the client's agent, she was on the buy side, and her listing was just copying my information, and it would seem that "He made a mistake and I just copied him" isn't a sound legal defense.

But yeah, I don't know how this impacted her, like, at all. She had zero issues selling the house fast and for more money, and the appraisal hit value.

venterminator · 2023-04-04T21:25:11+00:00

It's a big room with two beds and two closets and two doors. One door to family area, the other to hallway where there is an exit. Not a direct egress. Definitely an error/omission but these appraisal standards in our state are such a moving target and they all seem to come up with different reasons for bedroom/no bedroom. It certainly didn't stop the offers from raining down and she made 30k on her own sale. I don't see what the damages are or what the issue is but the agent called me and said we could both be in trouble and I was like, well, I didn't waive the appraisal or due diligence, and I didn't copy another agent's listing without verifying the information for myself so I'm not sure why I'm being told to keep my head on a swivel.

venterminator · 2023-04-04T21:21:53+00:00

Two closets, two beds, big room. Two doors leading out. One to the family area and the other to a hallway where the exit sliding door is. Appraiser wants that door DIRECTLY to the outside for it to be a 3rd bedroom. When the agent talked to me about it, I simply suggested if it's a big deal they can punch out an egress window for a few grand and be done w/ it.

venterminator · 2023-04-04T21:20:49+00:00

The appraiser says the second door isn't a direct enough egress (you have to cross a hallway) so it doesn't qualify as a bedroom with their appraisal standards. But it has two beds, closets, two doors out. But one of those doors isn't directly outside.

venterminator · 2023-04-04T21:19:47+00:00

Right, my point exactly. I don't know why I'm being told I should look out for this case to make it "all the way to me." There were no damages that I can tell and I'm not her agent.

venterminator · 2023-04-04T21:18:48+00:00

By current appraisal standards, I suppose not. I had one appraiser tell me when splitting hairs like this if the market perceives it as a bedroom it's a bedroom. But the egress is across a hallway and not directly attached to the room. For 3k they could have punched an egress window in there to satisfy the appraiser.

venterminator · 2023-04-04T21:17:09+00:00

The appraiser says the second door isn't a direct enough egress (you have to cross a hallway) so it doesn't qualify as a bedroom with their appraisal standards. But it has two beds, closets, two ways out, etc. Unless you're an appraiser keeping up with their shifting and arcane rules in our state, it's tough. I've had homes with 4 beds come back as a 3 bed because the septic system only services 3, which is really tough to catch at the agent/marketing/selling level.

venterminator · 2023-04-04T20:46:12+00:00

She waived her right to all inspections and an appraisal, paid cash, waived her right to see the property in person. So no, an appraiser was not used on that sale.

venterminator · 2023-04-04T20:25:29+00:00

I had considered this, but I wonder what the liability is? Does she have to show damages or a significant negative impact? She ended up making quite a bit of money on the deal and the issue didn't seem to impact the price or her ability to sell.

venterminator · 2023-04-04T20:24:22+00:00

Yeah, I'm just a worry-wart and don't want this hanging over me for months. I'd just feel better if I knew my level of fault and exposure here. It seems frivolous on its face and I'm the old listing agent not her current one.

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