[ Post New Message | Post Reply to this One | Send Private Email to Lee Wisener | Help ]

Response to Repo last August still not sold

from Lee Wisener (lee@wisener.net)
A mortgage lender does not owe a duty of care to a borrower in that they dont have to sell at a particular price at a particular time.

If they get and offer early in the marketing process and turn it down on the basis that further marketing will attract a higher offer, then only manage to sell it 4 months later for say £20k less than the offer recieved early on, then they cant be held liable under duty of care.

This is of course on the basis they did not act with any negligent intention.

(posted 7162 days ago)

[ Previous | Next ]