72 sold is a real estate platform based in Arizona, USA. The name behind its nomenclature is the fact that it promises to sell your property within three days. The concept is quite new even in the United States. Besides, the platform also undertakes to sell the property at a comparatively higher rate than those prevailing in the market. The idea definitely is, attractive. Concerned people thus have started to raise questions regarding the validity of the promise. Since more people are showing interest in their scheme, other home-buying organizations also are worried about losing business to 72 sold lawsuit. A legal suit has recently been filed against the platform questioning its authenticity. Let us see what could be the possible outcome of the legal proceedings.
72 sold lawsuit: A Synopsis
The background behind filing the lawsuit against 72 sold was the issue with some homeowner sellers. They have complained against the platform about patronizing through deception. It was argued that transparency in the dealing was also lacking. These sellers are of the opinion that the company representatives have promised fake sale prices for their homes. Undoubtedly, such accusations have aroused public attention. Media also have started to question the functioning of the program in the hence editions.
The core of 72 sold lawsuit
Specifically, the 72 sold lawsuit has put through several allegations against the platform and the company patronizing it. The legal representation has questioned several features of the platform. It says that the company representing 72 sold has suppressed crucial facts in its sales process. Some of the customers have become victim of these misleading representations. The fraudulence may be in the speed of transactions or the pricing promised.
Therefore, the core of 72 sold lawsuit is the question whether the platform’s claim goes with reality. It was also a question of business ethics. Other home-buyers have different slabs of rates for properties situated at various places. The price is higher for convenient places and vice-versa. The platform cites no such slabs. Thus, the petitioners argue that the rates may be for properties in convenient places where the rates are still higher than those offered in the platform. It is also not stated what would happen to their commitment if the property is not sold within the deadline. Many of the plaintiffs have complained that their property had remained unsold after the stipulated time was over. The final sale price offer was much below the potential.
Several 72 sold lawsuit plaintiffs have also argued that they were totally ignorant about any fees charged by the program. After finalization of the deal, the company representatives disclose the amount payable for the services. Such unanticipated expenditure had lowered their profits to a vast margin. Costs that are not disclosed in the advertisement would question the efficiency of the marketing staffs. Lack of transparency can be treated as a serious fault in the eyes of law.
Impact of 72 sold lawsuit on future sellers
I have mentioned earlier that a lot of home sellers felt attracted about the 72 sold offer. They have decided to dispose of their properties with the help of this platform. Learning about the 72 sold lawsuit has put them into a dilemma. They are now uncertain about the consequences of their decisions.
People in general are also in disarray about the legitimacy of the offer. An argument has risen that the advertisement should also mention the probable risks involved. The benefits it offers must outweigh the hazards.
The 72 sold lawsuit has also raised questions about the future of the real estate business. More and more petitions will be filed in the court demanding alterations if the plaintiffs win. The proposed changes are sure to affect the functioning of real estate advertisement programs. Stakeholders in the business may file petitions against such changes. Hence, the process may reach a standstill.
The outcome as we see for 72 sold lawsuit
Before beginning the article, I had put serious consideration over the probable conclusion of 72 sold lawsuit. It could be several. Let me jot them down one-by-one for your convenience.
- The court finds that 72 sold are engaged in deceptive practices: The patronizing company will have to pay the penalty as imposed by the honorable court. It will have to make alterations in the advertisement too. The style of operation will also change.
- The defending team wins: If 72 sold could prove that the allegations were based on inadequate information, then the verdict may come to its favor. However, it will also have to prove that the delays in sales were unintentional. In this case, the company will continue operating without making any major changes.
- The case is settled or dismissed: It happens very rarely. However, under such circumstances, the legal scrutiny released would impact the public opinion about such program. Usually, companies prefer to start afresh after facing such disasters. Acquiring new customers becomes a challenge after such occurrences.
Conclusion – will 72 sold remain in the market?
The lawsuit with 72 sold has established a fact. New and innovative campaigns will continue to develop in the real estate world in the coming days. People will enjoy new words in the advertisement; yet, these must not surpass ethics. Homeowners/sellers are ready to see the blatant truth irrespective of the innate hardship. They expect an underlying guarantee in these statements.
The outcome of the lawsuit will definitely shape the future of the 72 sold. Whatever be the verdict, I personally think that the advertisement would not prevail in the market. The company would start with a new idea – afresh, alluring campaign. This time the advertisement is probably going to be more realistic. People will make decisions based on information only.
