It is up to the actual buyer and or sellers of real property to contact their local State Banking and State Insurance Departments to file complaints against Lenders and Title companies they feel have acted inappropriately during the process of purchasing a home or a refinance.
Only you can change to face of the industry; do not accept predatory practices by anyone involved in the process of buying or selling your next home. If you feel you have not been treated appropriately please, I urge you, contact your local office of State Banking & Insurance .........
Arizona Department of Insurance
Consumer Affairs Division
2910 N. 44th Street, Suite 210
Phoenix, AZ 85018
http://www.id.state.az.us/
Phone: 602-912-8446
Fax: 602-954-7008
Arizona Department of State Banking
Consumer Affairs Division
2910 North 44th Street, Suite 310
Phoenix, Arizona 85018
http://azbanking.gov/
Phone: 602-255-4421
Fax: 602-381-1225
Tuesday, September 27, 2005
Disclosure, Disclosure, Disclosure...............
Case in Point: Two Inspections.......... Two different out comes..... Should the Seller & the Sellers Listing Agent Disclose the presence of both inspections? ABSOLUTELY...........
If a Buyer had the opportunity to speak with the first inspector, or hear his report of the inspection, it may well have influenced the Buyer's decision to buy the home. For those reasons, the Courts held that a reasonable person, in determining whether to purchase the home, may well have attached importance to the more extensive description of the damage and the much higher repair estimate contained in the report and, therefore, the agent & Seller was required to disclose the information.
ARIZONA: A real Estate Agent MUST disclose all adverse material facts that they know. If two inspections are conducted, and they contradict or are inconsistent and an agent is aware of both of them, an agent should disclose both reports or risk being held liable for failing to disclose.
If a Buyer had the opportunity to speak with the first inspector, or hear his report of the inspection, it may well have influenced the Buyer's decision to buy the home. For those reasons, the Courts held that a reasonable person, in determining whether to purchase the home, may well have attached importance to the more extensive description of the damage and the much higher repair estimate contained in the report and, therefore, the agent & Seller was required to disclose the information.
ARIZONA: A real Estate Agent MUST disclose all adverse material facts that they know. If two inspections are conducted, and they contradict or are inconsistent and an agent is aware of both of them, an agent should disclose both reports or risk being held liable for failing to disclose.
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