The Intentional Lie

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Real Estate Contracts

Section 44 of 45

Fraud is the ugly side of the business. It is not an accident; it is a choice.To be found guilty of fraud, four things usually need to happen:Misstatement: You lied about a material fact (or hid it).Knowledge: You knew it was a lie (or you acted with reckless disregard for the truth).Reliance: The other person relied on your lie to make their decision.Damage: The other person lost money or suffered harm because of your lie.Examples of Fraud:Concealment: Painting over a crack in the foundation to hide it.Misrepresentation: Telling a buyer, "This lot is zoned for commercial use," when you know it is strictly residential.