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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33802
Experience:  15 years real estate, Realtor. Landlord 26 years
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We got and accepted an offer to buy our house. The buyers

Customer Question

We got and accepted an offer to buy our house. The buyers were from out of town and went to there bank branch which has a branch where we live. At the bank they contacted a loan agent at the bank near us, and in the conversations that loan agent stated that the Property OwnersAssociation was to have a large assessment at the end of the year. This is totally wrong as my wife is on the board an POA. is in good shape.
The agent told the buyer not to just walk away but to run. My wife and proerty manager met with the bank president and he confirmed what happened. We do not want to go after the buyer, what responsibility legally does the bank have and the banks agent.
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Barrister replied 6 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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The problem here is that the bank loan agent has no legal duty to you to provide accurate information to another party. They can outright lie if they want to and it is then up to the 3rd party/purchaser to verify who is telling the truth. This wouldn't be slander or defamation because they didn't say anything inherently negative about anyone, they were simply wrong about there being an assessment that would be coming soon.

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So once that information came to light, it would be up to the buyer to inquire about it and the POA to refute that allegation so as to assure the buyer that it wasn't in the works behind the scenes.

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Was it unprofessional?....definitely if the agent didn't have any basis for stating this. But if they did business with someone else on the POA who mentioned something about an assessment, the agent might have simply misunderstood or been misinformed by whoever told them.

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Basically this a situation of an unfounded rumor being spread that could have easily been investigated and quashed...

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With all that said, I don't see any legal cause of action against the agent as he had no duty to you, but the president of the bank should definitely reprimand him for spreading unfounded rumors...

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thanks

Barrister

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