Buyers Sue Agent Over Home Price

January 26, 2008 | Filed Under Real Estate News 

Many people may feel they overpaid for a home they bought during the housing boom, but one California couple is trying to do something about it. According to the New York Times, Marty Ummel and her husband Vernon, of Carlsbad, are suing their real estate agent, claiming he withheld information that similar homes in the neighborhood were selling for less than the home they eventually bought. Real estate lawyers say the case, which goes to trial on Monday, brings into question the valuation process and could be “the first of many similar cases in which regretful or resentful buyers seek redress from the agents who found them a home and arranged its purchase,” the Times reports.

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