April 04, 2008

And then, right on schedule, the screwed homedebtors started suing their realtors


"But your honor, if they would have paid the legitimate price, I would have earned less commission, and that wouldn't have been right!"

realtors, got some bad news for ya. Hire lawyers. Civil and criminal. And that goes for mortgage brokers, builders and appraisers too. The sheeple are getting restless.. Hat-tip to doom for the link

Homeowners suing agent over high purchase price

Tomorrow, Vernon and Marty Ummel, who purchased a $1.2 million home in Carlsbad three years ago, will try to convince a jury that their real estate agent defrauded them when he failed to inform them that similar houses on the same block were selling for more than $100,000 less than what the Ummels had paid.

Jury selection is expected to begin tomorrow morning in the Vista courtroom of Superior Court Judge Lisa Guy-Schall.

22 comments:

Frank@Scottsdale-Sucks.com said...

Sorry but this is a junk lawsuit that should be dismissed. Realtors might suck but seriously, suing because your realtor didn't tell you what other houses were selling for? Have these people never even heard of the internet?

I wouldn't doubt that this is a setup. At best it's a desperate measure to make easy money by a couple of desperate homedebtors facing bankruptcy.

Anonymous said...

who says the economy is in the dumps...lawyers are going to be making a killing as this unwinds

happy homeowner in the stix said...

Good luck with that one.

I'm sure the opposing side will come up with plenty of reasons why the houses weren't identical (nicer granite countertops, better views, bigger pool, newer appliances, etc.). Toss in the ever favorite "that's what the market would bear at that particular time", and a few other little reasons why ol' Vernon and Marty weren't paying too much. They're lawyers, they'll think of something.

That said, if they were so damn horny for the house that they overpaid, well.....life sucks, don't it? Sometimes the purpose of your life is to serve as a warning to others.

Hold on to it for twenty years and you might make your money back, kids.

DOPES said...

PAID TOO MUCH...

ROOF IS LEAKING...

HEAT PUMP DIED...

FRIDGE ON THE BLINK...

POOL IS LEAKING...

TOILET IS STOPPED UP...

TERMITES...

THESE HOME-OWERS GOT PROBLEMS...

DOPES!!!

Anonymous said...

Always a good time to be a lawyer in America. Damn, I picked the wrong profession...and I don't even care about people anymore, so I'm qualified.

MrBill said...

Depends on what you mean by "your realtor". Many clueless wonders think that the person they meet when they walk into an open house is "their realtor", and that this person has a fiduciary duty to them. Here's a clue for morons like that: That person is NOT your realtor, he is the seller's realtor and has a duty to act in the seller's best interest, which means getting the highest price possible for the house.

Anonymous said...

Message to the Ummels:

Why not blame YOURSELVES FOR YOUR STUPIDITY!

SUCKERS !!!!

mairca izda debol said...

Can you get blood out of stone? Are they going to take ramen noodle packages as settlement?

Lady Di said...

Excellent idea:

The payout for this lawsuit should be in Ramen. The jury can decide how much Ramen and what flavors.

Anonymous said...

So now can I sue on any purchase I make of anything where the value later goes down? I'm calling my lawyer now.

DOPES said...

FAUX NEWS IS ALL OVER THIS STORY!!!

THEY SAID THE UMMELS SHOULD HAVE USED DOLLAR COST AVERAGING AND BOUGHT ALL THREE HOUSES!!!

DOPES!!!

Anonymous said...

Johnnie Cochran's dead, man. He died on 29 March 2005 of a brain tumor. How can the plaintiffs use a DEAD LAWYER??!! CAN YOU ANSWER ME THAT SMART ALECK??!! This shows me you don't know what you're talking about!
http://us.imdb.com/name/nm0168137/

MUHAHAHAHA!!!

Anonymous said...

The truth is, a Realtor has a fiduciary responsibility to a client to accurately inform that client of current market conditions. The reason I believe these people have a decent shot at winning their suit is that their Realtor was doing nothing more than finding a house that would bring him the biggest possible commission in their price range. Yes the couple should have done more research, but the Realtor should have helped them make the best choice for them, not him. I say LET HIM EAT RAMEN.

OJ was Here... said...

"Johnnie Cochran's dead, man. He died on 29 March 2005 of a brain tumor."

Good. One down. Well, at leat its' a start...

Shakepeare was RIGHT...

Anonymous said...

These people are NOT dopes. A lot of people are not financially savvy, and they relied on their Realtor, which I have also learned is a BIG mistake.

Anonymous said...

As their agent your fiduciary duty was to them. At the least their is a serious lack of ethics or intelligence, which could constitute gross negligence. If someone is getting three percent of probably over 500k easy in Carlsbad, they better cover their greedy a$$es. Good, the sooner the realtors that give us all bad names get out the better.

Anonymous said...

I'm presently working in the southwest on a three year job. When we got here a year ago some of the people I work with bought houses in the area because the local Realtors told them the place will boom in the next few years.I know very little about real estate,but it only took me about five minutes on the internet to realize house prices began to fall 6 months before we got here. Today they're down 14% over 12 months.

mairca izda debol said...


serious lack of ethics or intelligence, which could constitute gross negligence.


So you can sue people for lacking ethics or intelligence? That's probably 905 of the world.

Anonymous said...

I hope the couple actaully win. It seems fitting that in this upside down white is black and balck is white realesate market that a buyer should be able to sue the idiot that sold them a house. I hope the door gets kicked wide open for more lawsuits. Homedebtors dont have anything left to lose. Go for it!

Anonymous said...

this shouldn't even go to trial.

land is unique. even if the homes are the same model, they are not in the same lot. value is so subjective, buyers and sellers ultimately determine the price of each unique lot.

Anonymous said...

If a Realtor misreprented the housing market to their client, e.g., demand is greater than supply and that is why housing has gone up in price, then they should be liable. You'll never get me to believe that Realtors did not know what was going on in the market, e.g., if you could fog a mirror you could get a loan, investment flippers, etc.

Anonymous said...

It depends on the facts of the case .If the plaintiffs asked for a market survey or market comps , and the Realtor denied them the information ,than the sales person might be liable .