> Coloradans frustrated with 'predatory' real estate company
Coloradans frustrated with 'predatory' real estate company
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Hundreds of homeowners in Colorado say a Florida-based real estate company called MV Realty took advantage of them during vulnerable times.
9NEWS found that about 900 Colorado homeowners have signed up with the company now being sued for its practices in several states.
The listing contracts, known as MV Realty’s Homeowner Benefit Program, offer a small amount of cash to homeowners up front in exchange for a promise: let MV Realty be the listing agent if and when you ever sell your home. The agreement guarantees the company a portion of the commission for the real estate sale.
The fine print on the agreements binds the contracts to the land, meaning even if a homeowner dies, their successors still have to follow the terms. And the agreements are valid for 40 years.
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