Warning: Advice & Opinions on Trulia Voices can become a vast source of misinformation.
We had to attend a mediation hearing yesterday with our client because of an escrow dispute.
Apparently, the buyer decided two weeks before closing they no longer wanted to purchase a home.
They sought other Realtors opinions on Trulia Voices for a way out of a binding contract.
The buyer was under the impression they could simply walk from the contract, demand their escrow back ith no problems!
Part of the reason was based on information they received from other Realtors who gave their opinions on Truila Voices.
It seems the buyer sought these opinions on-line from other Realtors who explained to this particular buyer they believed it would be alright to terminate the contract based on the belief the buyer wanted to place a new offer on another home.
One thing lead to another, naturally the seller believed the buyer was in default.
The seller instructed the Title Company they would not agree to a "Release and Cancellation" of the executed contract signed by both parties.
The two parties went back and forth,eventually we ended up in court settling the escrow dispute in front of a mediator.
The buyer should have contacted an attorney,but that`s another story.
They did use information they received from Trulia Voices as part of their case, that was a huge mistake.
In our opinion we have read too many comments on T Voices from Realtors who quite frankly are not qualified to givefactual information.They shouldn`t become Realtor Advocate`s which is troubling.
The opinions given on T Voices are an opinion,but,when you start advising people to walk from a transaction, I have to question the actual motivation of these Realtors.
In the case of this buyer, they spoke to another Realtor who assured them, they can "Get Out" of our transaction.
They didn`t explain the actual process of what might transpire or where it would lead too.
It lead to a "Hearing" which is the last place anyone really wants to be!
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