From a New York Times article profiling a couple who moved from San Francisco to San Diego and are now suing their agent for what they perceive as overpaying when they purchased their home:
Real estate lawyers and brokers say the case, which goes to trial in North County Superior Court on Monday, is likely to be the first of many in which regretful or resentful buyers seek redress from the agents who found them a home and arranged its purchase.
“When your house appreciates $100,000 in the first six months, you’re not quite as concerned that maybe the valuation was $25,000 or $50,000 off,” said Clifford Horner of the law firm Horner & Singer. “But when your house goes down, you ask: ‘Who might have led me astray here?'”
Note that the couple isn’t planning on selling anytime soon, haven’t realized a loss, and might very well sell their home one day for more than what they paid.
∙ Feeling Misled on Home Price, Buyers Are Suing Their Agent [NYT]