If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Imagine getting a listing for a foreclosure from a bank. You have the listing, the home is beat up, but it could be a deal for you.

Then the City of Atlanta sends you a fine for the home being derelict. That is right, not the homeowner or the bank that may own the property, but the listing agent. The City of Atlanta gives building inspectors the ability to fine the homeowner or anyone they think has the ability to control the building.

City code inspectors have begun ticketing some listing agents, holding them liable for code violations on run-down properties they are selling, often for out-of-state institutions.

Several agents with similar properties have been hauled into court over the past few weeks — yet another offshoot of a foreclosure crisis that’s spread across the region but hit certain intown neighborhoods especially hard.

Agents, already under pressure from declining sales, say the city’s unfairly picking on them because they are easy targets. The city, they say, should be applauding their efforts to get foreclosed properties into the hands of new owners who will properly care for them. via ajc.com.

This is messed up in my opinion. The real estate agents are just trying to sell the property. Overzealous city bureaucrats seem to think that going after anyone with deep pockets is the way to fill their quota. Instead what you will see is these homes have no chance of selling because no one in their right mind will list them.

Then you will see some serious blight.

Related posts:

1. Atlanta Losing KB Homes As Builders Retrench
2. Atlanta Looking To Sue Mortgage Lenders
3. Real Estate Agents Give Up Commission Structure in Denmark
4. Waxman-Markey Cap And Trade Will Make Homes Cut Energy Consumption 62 Percent
5. Buyers Show The Way To The Money Today For Agents