Tuesday, November 3, 2009

Realtor Sued For Misrepresentation When Assessor's Record are Incorrect

Posted by Lindsey Connell

There's really nothing for real estate agents and brokers to like about a recent case brought to our attention by the legal department of the National Association of Realtors® (NAR). Bowman v. Presley arose out of a 2005 transaction that took place in the state of Oklahoma. The ruling came down from the Oklahoma Supreme Court.

Michael and Heidi Presley listed their home for sale with Michael's mother, Linda Presley, a Realtor® with Century 21 Bob Crothers Realty. The listing price was $149,500. The MLS listing form showed the home to be 2890 square feet according to information that came from the tax assessor's records. The buyers, Richard and Dana Bowman, were looking for a home substantially larger than their then-residence of 1398 square feet. They made an offer on the Presley home and negotiated a purchase price of $145,000.

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