Navigating the unseen hazards in real estate transactions

 

Imagine selling your home for close to $1 million, then, barely a month after closing, you’re blindsided by a restraining order and a temporary injunction. The reason? The new owners have accused you of concealing the fact that the property was contaminated with methamphetamine. 

This isn’t a plot from a legal drama; it’s a real-life scenario that unfolded for a family who thought they had successfully moved on from their old home. The buyers performed a lab test which revealed methamphetamine contamination, leading to allegations of fraud and deceptive trade practices against the sellers. 

The sellers were shocked and distressed. They had no knowledge of any contamination and found themselves in legal chaos, accused of actions they were unaware of. This is where Sellers Shield™ steps in. The sellers purchased Home Sale Legal Protection™ when they sold their home and immediately contacted us when they were handed the demand letter. Recognizing the urgency of the situation, we provided the sellers with an expert real estate attorney in less than 48 hours. 

The legal battle was filled with uncertainty for the sellers. Yet, after two months of dedicated effort from their appointed legal team, the case was settled, and we covered up to $20,000 of their legal defense fees. 

This case highlights several critical insights for agents, home sellers, and brokers alike: 

  1. Unexpected Issues Can Arise: Even with thorough inspections and honesty in disclosures, hidden problems can emerge, posing significant risks to both buyers and sellers.
  2. Legal Protection Is Essential: The unpredictable nature of real estate transactions makes legal protection not just beneficial but necessary. In the case above, without Home Sale Legal Protection, the sellers would have faced not only the stress of the allegations but potentially crippling legal expenses.
  3. Importance of accurate disclosure: For agents and brokers, this case serves as a potent reminder of the responsibilities they bear in advising clients. Ensuring clients understand the importance of disclosures and the potential for unseen issues can help safeguard against legal issues.

This case exemplifies the unpredictable nature of property transactions and the importance of being prepared with legal protection. For agents, brokers, and sellers, it’s a reminder that in real estate, sometimes the most significant hazards are those you never see coming. 

Scott was sued for $200,000 two years after the sale of his home.

He never dreamed he would be served papers in his driveway.

real customer receiving lawsuit in drive way.

AGENTS & BROKERS

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