Thank you so much for your thoughts Frank. I have ...

2008-06-06T20:05:00.000-04:00

Thank you so much for your thoughts Frank. I have checked the contract now that I have it in front of me again...
There is no box to check off allowing the sharing of information. It says very clearly that "dual representative may not disclose to either client or such client's designated representative any information that has been given to the dual representative by the other client within confidence and trust of the brokerage relationship..."

it also says in another paragraph explaining Designated Representatives that "Virginia law...The principle or supervising broker who is supervising the transaction will be considered a dual representative of both seller and buyer. Designated representatives may not disclose, except to their broker, personal or financial information received from the clients during the brokerage relationship..."

The inspections were not asked for by us in writing, it was made know on the contract paragraph 15. Well and Septic
(a) If the Property is served by an on-site well or other natural water source, Seller agrees to provide Purchaser with a certificate dated not more than 30 days prior to settlement...
(b) If the Property is served by a sewage disposal system, Seller agrees to to provide Purchaser with a certificate dated not more than 30 days prior to settlement...

So we SHOULD have been given these inspections and not even had to ask for them. We did ask for them repeatedly and were told that, "You didn't buy the house yet, your just renting it right now, we don't have to give you anything." Then later told, "You were shown them and satisfied", "You spoke personally with the water purification company and were satisfied"...We had no knowledge of being shown them or speaking with anyone. If we had been shown documentation we would have signed/initialed copies and not been asking for them.

Unfortunately they referred us to a lender, but swore they were not affiliated in any way, who immediately approved the purchase price with what we wanted to deposit ($38,000-40 including deposit, on a $245,000 home) and had no problem with the credit score showing. Funny this company neglected to inform that they were not an "as is" mortgage company. The appraisal was not ordered or done in time, they got it back the morning of the closing date (which they set not us) and denied the mortgage because of the spring fed water system and lack of comparable homes in the area (there were none, it was a very unique house and property).

Yes, I still have the audio on a digital recorder and the original message on our digital answering machine. You are more than welcome to a copy and I will try to provide you with one as soon as possible. I would love to be as public as I can with this and hopefully prevent this from happening to someone else but the press in this area (VERY Southwest Virginia) is uninterested in anything that is not in court. The company helped these homeowners (I found out later they have done business with many times before) siphon over $12,000 from our family and we have been unable to do anything about it.

I appreciate all of your knowledge and insight, I wanted to make sure I was reading and understanding all of this correctly before proceeding with my complaints to the NAR and DPOR.

You have been absolutely wonderful and timely with your responses. It is good to know that there are Realtors out there who are genuine, knowledgeable, honest and care about the satisfaction of their clients and the people they advise. Thank you so much for taking time out of your day for my family and our questions.

2008-06-06T15:21:00.000-04:00

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Comments on FranklyRealty.com Daily Questions: Designated Agency, Can They Share My Info?

Thank you so much for your thoughts Frank. I have ...