01-22-2008, 09:44 PM
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CC Member
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Join Date: Feb 2004
Location: Outside Miami,
FL
Cobra Make, Engine: Several
Posts: 949
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Not Ranked
In florida, if an agent is aware of deep discounts on comparable properties and does not disclose this to a buyer, for whom he is engaged as a buyer's agent or equivalent, the agent can be held liable for the over-payment.
Proving it isn't easy, though.
Like the court cases against all the bigger auctioneers, when it looks like they are going to lose a case, they settle for a price without admitting guilt and demand a do-not-disclose agreement in return. So, the facts of the collusion, shilling, etc are rarely available to third parties.
Subsequently, they learn to cover their tracks better and develop better weasel-words to avoid liabilities in the future.
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