Ummel's lose lawsuit against real estate agent
Out in San Diego, Vern and Marty Ummel sued their real estate agent because they felt they overpaid for their home a couple of years ago. They said that "similar" homes sold for less and their agent withheld the information from them.
The jury took only 2 hours to hand down a unanimous decision against the couple and for the real estate agent.
Obviously, I don't know all the facts but from what I've been able to glean, the comparable homes weren't exactly "similar" and when you are talking about million dollar homes, better views, upgrades, etc., can add up pretty quickly and account for a significant price difference. The real estate agent, however, was probably not completely blameless since he also acted as the mortgage lender and may have had a conflict of interest.
Jury forewoman Wendi Brick said. "The bottom line is that you (as a buyer) are responsible when you sign a contract and purchase something."
Read more about the story here. Excellent reporting by Teri Figueroa at the North County Times.