Do I have a case if a real estate agent lied about having multiple offers on a house?

UPDATED: Jun 19, 2012

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Do I have a case if a real estate agent lied about having multiple offers on a house?

We bought a foreclosure, the bank’s real estate agent told us he had multiple offers and we had to give our highest and best, so we did. Talking with the bank later we found out we were the only offer they had ever had. They never saw any other offers from anyone else.

Asked on June 19, 2012 under Real Estate Law, Pennsylvania


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

You have at least a basis for an administrative complaint wtih your state's department of real estate against the listing agent for the REO seller of the foreclosed property that you acquired for lying to you on the issue of multiple offers.

As to damages, unless your selling agent can verify that you would have offered less than what you did and the seller would have accepted that lower amount proving such under the law will be difficult.

I suggest that you consult with a real estate attorney further about the matter you are writing about.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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