Agent

‘Transaction broker’ agreement vindicates real estate company

Law of the Land
Published on May 19, 2010

In 2004, Hall Realty signed a transaction broker's agreement to list and sell the Lake Forest Resort, a 12-unit RV park in Colorado owned by Daniel W. Weddel, which comprised six cabins, a home, a grocery store and an office area. Hall Realty advertised the resort as a "turn-key business opportunity"; at the time, it was actually operating as an RV park. In 2005, Gilbert Barfield purchased the property. In 2007, the Colorado Department of Public Health and Environment informed Barfield that the water supply system was improper for the property to operate as a 12-unit RV park. Around the same time, the CDPHE and the county reportedly notified Barfield that the sewage system did not have proper permits for the property to operate as it had been. Additionally, according to court documents, the county informed Barfield that the property did not have the proper operating permits and ordered him to cease business operations. Barfield filed suit against Hall Realty, allegi...

Comments