Quote:
Originally Posted by CHANMADD
It,s pure ethics. If the Buyers agent has been selected to represent the buyer then it is that agents resposibility to disclose all the facts as they may become known. In other words the agent must work in the clients best interets.
This buyer ,after asking for the appraisal, was denied, and had she had said appraisel she most likely would not have paid the price that she did,or she would not have purchased the house at all. I am a Realtor ,but I believe that this buyer does have some recourse to the agent and or the broker as all facts were not disclosed!!
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And how exactly did this person get a mortgage without the bank doing an appraisal on the property? If the price was completely out of line at the time, the bank would not have lent the money. On the other hand I heard that banks were putting pressure on appraisers to redo appraisals when an initial appraisal was too low.