LawProblems.com -- Answers to Questions About Real Estate Law
Money and real estate news you can use everyday
 
           

Home
Real Estate Lawyer
Question of the Week
Tip of the Week
Recommended Books
Resources
Glossary
Contact Sam

Real Estate Agent Lies About Employment Opportunity

Ask the Real Estate Lawyer: Real Estate Law Q&A

REM #LAW 662

By Ilyce R. Glink and Samuel J. Tamkin

Summary: The reader and her husband have purchased a new home based on the real estate agent's assurance that they had found the husband a new job. Sam and Ilyce are concerned that the buyer was scammed because the job did not come through. They suggest never being pressured into making a large financial commitment.

Q: My husband lives in one state and I live in another. We want to live together and a real estate agent promised to help find my husband a job where I live.
(article continues below useful links)

We were rushed into buying a home because the agent said the job promised to my husband would not wait.

The day after we signed the final papers and purchased the home, my husband called the job and was told there was no job for him. The agent and the mortgage lady who works with him won’t return any of our calls and we have no idea when the sellers of our house will move out of the house we purchased.

We can’t get answers to any of our questions and we are getting deeper in debt. What can we do?

A: Your real estate agent is in the business of buying and selling real estate and should never have promised to help your husband find a job. You may wish to file a complaint with the agency that regulates real estate brokers in the state in which you are located.

You may also consider filing a complaint with the local Realtor board, if your agent is a member. There is also a National Association of Realtors, based in Chicago, Illinois, and you can file a complaint there as well.

Finally, you should review the loan documents that you signed at the closing. If the mortgage broker listed your husband’s employment with this new company, the mortgage broker might have been in on the arrangement and you may wish to investigate this aspect further.

To get the loan approved, the loan officer must have had to verify your husband’s employment. If the verification of employment was with the prospective employer, the mortgage broker was either innocently involved or the employer is involved in a situation where they put false information into a mortgage application.

This would be considered mortgage fraud, and the authorities don’t look too kindly on mortgage lenders, loan officers and real estate agents who put fake data onto loan applications.

If there was a scheme involved, it could have involved the real estate agent, the lender and the prospective employer. If it was a scheme, then you need to contact the proper authorities to make sure other people are not affected in the way you were. You should also contact an attorney to assist you in helping you get out of the mess that you appear to be in.

A word of caution for next time: If you or your husband are ever “promised” a job and are pushed into making a huge financial purchase based on this promise, check out the situation ahead of time. You could have easily called the job to see what it was and what had been promised before you closed on the home, and saved yourself a lot of heartache and hassle.

Good luck.

 

Samuel J. Tamkin is a Chicago-based real estate attorney. Ilyce R. Glink’s latest book is 50 Simple Steps You Can Take To Sell Your Home Faster and For More Money In Any Market. If you have questions for them, write: Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact them through Ilyce’s website www.thinkglink.com

 

 

 

RSS Feeds

RSS 0.91 Feed
RSS 1.0 Feed
RSS 2.0 Feed
ATOM Feed

Home Buying   Using Attorneys to Buy a Home - Earnest Money - Quitclaim Deeds - Easements - Seller Misreprensation - New Construction - Buying with Partners - Home Inspections - Seller Problems - Agent Issues
Home Selling    Using Attorneys to Sell a Home - Seller Disclosure laws - Title Problems - Buyer Problems - Real Estate Agent Issues - Tax Considerations
Home Ownership   Neighbor Problems - Seller Misrepresentation And Fraud Issues - Problems In a Condominium Development - Problems Around The House - New Construction Issues - Subdividing Land
Home Renovation   Architect Issues - Contractor Issues - Problems With Contractors - Inspection Issues - Certificate Of Occupancy - Municipal Inspections - Punch List Issues - Financing Issues - Installment Contracts
Real Estate  
Financing
 
Loan Application Problems - Refinancing Issues - Paying Off An Old Loan - Credit Problems - Seller Recommended Lender - Prepaying A Loan - Prepayment Penalties - Predatory Lenders
Investment  
Property
 
1031 Exchanges - Financing Investment Properties - Landlord and Tenant Issues - Partnership and Company Considerations - Tax Considerations - Subdividing Land
 
Contact Us | Sitemap | Terms of Use | Copyright ©2001-2005. ThinkGlink Inc. All rights reserved.
Reproduction of material from any www.LawProblems.com pages without written permission is strictly prohibited.
Site design by Walker Sands Communications