With REOs, Lenders Passing Liabilities On To Agents

For all you listing agents targeting REOs and foreclosures to increase your listing inventory, check out some of the warnings outlined in this recent Inman article:
Lenders stick listing agents with REO liabilities

Here are some highlights from the story...

"If they can, lenders will try to shift responsibility for managing properties to listing agents, and the duty to disclose property defects. Lenders may also stipulate that real estate brokers will indemnify them from lawsuits or other liabilities associated with a property."

"These lenders got into problems by not analyzing the risk associated with borrowers. They are now risk-averse, and are trying to shove all of the risk onto the brokerage industry."