What happens when an internet real estate website posts the wrong amount of money for a home?
Can the person who noticed the error buy the home for the wrong price or will they be told that it was just an error?
I think it kind of depends. If it’s listed as $25000 instead of $250000, it’s assumed one is reasonable enough to be knowledgable of the average market value of similar properties.
Different states might have different laws. For instance, a state might define the selling price of a property as ONLY that which is listed in writing in hard copy format on the sales documents. This would protect anyone from an error in, say, data entry at the newspaper or online.
There might NOT be such a law in a state, and the price may very well be listed as one would reasonably expect to pay for a property. In this case, especially if the home is advertised at that price by a major realty company, one could attempt to purchase it for the incorrect price on the basis of false advertising or bait & switch.
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