My real estate agent made an error?
I am a real estate agent myself, well now retired. I sold a property that I owned to an individual. The property was not listed by me or through any real estate company. The buyer approached me and over saw the reconditioning of the property from the ground up. The buyer took possession of the property 2 weeks before closing. Another Real Estate Broker handled all the paperwork and the closing on the property. I did not act as an agent, I just assumed the role of the seller and property owner. Now I am being sued, because a property condition report was not presented to the buyer at the time of closing by the Real Estate Broker I hired and who received a commission for the sale of my property. I am in shock that I could be sued , when I did not do anything wrong, and did not have any idea that the property condition report was not presented to the buyer. The buyer eventually defaulted on the mortgage and moved out after 3 short months. They left the water on and the house was flooded, filed for coverage under an insurance policy, and received 10,000 dollars for the damages. However they never fixed any of the said damages, and then tried to claim the damages were my fault. However the damages occured 7 months after the buyer, had left the house vacant and the utilities on. Again I just sold a property through a broker, who the broker failed to give a disclosure agreement to the buyer. We original spent 30,000 dollars in the reconditioning of the property before selling it to the buyer. The buyer did not put one dollar down, and paid no closing cost and the first years insurance was prepaid out of the proceeds of the sale of the property. The buyers attorney asked us for 200,000 dollars in damages, and we are still in shock. We live in Southern Louisiana and have never been placed in such a rock and a hard place. All the other paper work was done, the termite inspection, building inspection, everything and the house was in excellent condition when the buyer purchased it from us. Any ideas? Thanks!