Buyers agent failed to notice vital information re house

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Buyers agent failed to notice vital information re house

I was under contract to purchase a home. The home came under value and the deal fell through. After the fact, I noticed the house put back on the market on the MLS but noticed it stated agent interest as the last remarks on the MLS. This was quite shocking to me. I had no idea the owner of the house was also the realtor selling the house. I brought this to my buyer’s agents attention. He said that he failed to notice that the owner of the house was also the realtor selling the house. My realtor said he never quote put two and two together. How does a buyer’s agent neglect this fact? I told my realtor this would have totally changed my offer that I put in on the house and how I acted around the realtor/owner at the inspection. He was present during the inspection. Isn’t my buyer’s agent negligent to not notice and inform me that the house that I’m putting in an offer on has agent interest?

Asked on August 27, 2019 under Real Estate Law, New Hampshire

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 1 year ago | Contributor

There is nothing changed by this. You write that it "would have totally changed my offer," but the law doesn't see it that way. You saw the house; you presumably looked at comps and/or the neighborhood; you put in the offer you voluntarily deemed worthwhile for this property based on its characteristics or location.  Who owns the house and who has interest in it doesn't alter any of those factors or the home's fair market value; it is not a material (or important) consideration in what a reasonable offer would have been, and so would not be considered to have had any effect with legal significance. It is not vital information from a legal perspective.


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