Legal Question in Real Estate Law in Missouri
We are in the process of buying a house with owner financing. We were asked to provide credit reports and income verification to the seller which we did with a confidentiality clause that the seller was not to disclose this information to anyone.
Now we have written proof that the seller has shared this with the listing agent who has told the seller that our debt to income ratio is too high. She calculated it backwards!
My question is this...can we sue both the seller and the listing agent for sharing this highly confidential material?
1 Answer from Attorneys
the question "can I sue?" is almost always answered "Yes" As suits for just about any transcation can be brought before a court. The more relevant questions are:
A) will I likely prevail? and
B) Should I sue?
It is nearly impossible to determine the enforceability of your "confidentiality clause" without reading it. If you do not have a signature from teh seller agreeing to keep it confidential, then it may not be effective at all.
If you knew of the agent before you sent the information to the seller, you may be deemed to understand that the information would be shared with his agent, as part of his making the decision to sell to you and be your lender too.
Absent these things, you coudl prevail in asuit to get an injuction against any further communication of yrou private information, and possibly for damages. At this point you have not described any damages, but a judge might grant you $1 anyway.
Good luck
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