1.
U.S. markets recover from steep losses
CARLSBAD, Calif., Jan. 22 (UPI) -- A California home buyer who says she paid too much for her home sued her real estate agent, claiming the agent hid information to collect a larger commission.
Real estate lawyers and brokers say the case, which goes on trial Monday, probably would be the first of many in which buyers seek compensation from their agents who found their home and arranged its purchase, The New York Times reported Monday.
In her suit, Marty Ummel, 60, claimed her agent hid information that comparable homes in the neighborhood were selling for less because he feared he'd lose $30,000 in commission.
The defendant is Mike Little, a veteran real estate agent who argues that Ummel and her husband, Vernon, 71, are shifting blame because they failed to do their own research, the Times said.
Observers said the Ummel case raises questions about the exact legal obligations of people -- such as real estate agents -- in assisting their clients when the relationship is based on trust and for which there is no contract.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
