We all know from the lessons of childhood, that lying is a big deal. No one likes to be lied to.
We use the word “Misrepresentation” in the world of real estate, as a blanket term for many types of misinformation, but It is really just a fancy word for lying.
As in all things in life, lying can take on many different forms and the same is true in real estate as well. An agent or buyer and sellers can intentionally or inadvertently mis-state facts. If they do so, they can be held responsible for that misinformation.
Misrepresentation can take on a plethora of different forms. Grossly exaggerating, misstating important facts or the omission of details could easily lead to litigation based on misrepresentation.
Examples of things that could be encompassed by misrepresenting could be the square footage of a home, previous damages or zoning laws that pertain to a property. A buyer and seller should always proceed with caution when it comes to the facts about a home or vacant land.
By being careless with the information, even if not intentional, could lead to disaster. Omitting information that should be provided or being negligent in discovering and providing details is just as dangerous as purposefully providing false facts about a home.
If you likes these videos I hope you will pass them along to your family and friends. There’s more content on my blog at chriswhitehurst.com , my Facebook page and YouTube channel. If you are finding value in the entries, I invite you to subscribe and like the pages, so you can stay plugged in on all things real estate. Until next time…….
Rose and Womble Real Estate
252 312 2263