"To err is human, to forgive divine". The problem is some buyers would rather litigate than forgive.  As the markets accelerate, it's important for listing agents and buyer brokers to remember, "If in doubt, check it out".

For example, a few days ago an agent poked their head in my office to ask my opinion of a pressing problem.  They were the listing agent on a deal that had just closed.  The elderly seller said her HOA fee was $170/month.  The buyer was represented by another firm and was furious that the HOA fee was actually $220/month.  Have you seen the bumper sticker that says 'oops happens'?

The buyer's agent played Pontius Pilot and washed their hands of the matter.  They suggested the buyer contact the listing agent directly and ask for $3,300 as compensation.  The listing agent was unsure of how to handle the issue.  What would you suggest?

Did the listing agent or buyers broker verify the amount of the HOA fee?  No, they relied on the representations of the seller.  The HOA transfer disclosures arrived at the last moment and were not reviewed by either agent, or the buyers.

Recently, another Realtor friend of mine listed a vacant town home.  He relied on another active listing in stating that the residence was approved for FHA financing.  This meant a lower down payment and more favorable rate.  The buyer and her agent relied on this representation, and wrote an FHA offer.  While in escrow they discovered the unit was no longer eligible for FHA loans.

The buyer's attorney litigated for a $15,000 fee from the listing agent for the misrepresentation.  My friend wrote a $2,500 E&O deductible check and lost the suit.  One prelisting call to a lender would have determined the actual financing options.

If in doubt check it out. Or, be prepared to take your checkbook out.