What ismy recourse if my realtor did not include a full disclosure statement in the MLS or to the buyer after the contract is signed?

I have a signed contract and the buyer is asking for repairs that were disclosed. Problem is my realtor did not include the full disclosure nor did the buyer sign the full disclosure. It is included in the pamphlets in my home and my realtor acknowledges he has it – but it was not posted on MLS. Buyer is now backing out of contract and buyer’s agent is saying that we are in violation due to the missing disclosure info.

Asked on October 20, 2011 under Real Estate Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

First, there is no requirement for a disclosure in a MLS full or otherwise. The MLS writing is a marketing tool for members to review listings of property on the multiple lisitng service.

Most states require a special transfer disclosure state and a supplement to state all matters known by the seller that would materially impact the price paid or the desirability of a given property by a potential buyer. If your listing agent failed to have such disclosure sent to the buyer's agent to be dated and signed by him or her then that was an error by your agent and very well could have cost you a sale.

You essentially have no recourse against your agent for this error other than to sit down with him or her and the broker of record to discuss the problem and make sure there are no more disclosure issues in the future. You might consider asking for a decrease in the commission to be paid by you as a result.

Good luck.

 

 


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