Show-Me State Times

Missouri Attorney General Andrew Bailey has taken a firm stance against deceptive practices by filing a lawsuit against MV Realty, a Florida-based real estate firm, for its misleading tactics in marketing its services to Missouri homeowners. Attorney General Bailey emphasized his commitment to upholding the law and protecting consumers from exploitation, stating, “As Attorney General, I will enforce the laws as written and defend innocent Missourians from being ripped off.”

The lawsuit alleges that MV Realty engaged in unlawful practices by offering homeowners only a small percentage of their home's value in exchange for an agreement to use MV Realty as their brokers when selling their homes. This agreement was often pitched over the phone to numerous consumers, including those who were on Missouri’s No Call list, raising concerns about the firm's disregard for regulations.

Furthermore, the petition reveals that MV Realty failed to disclose crucial information to homeowners, such as the long-term implications of the contract. The firm neglected to inform homeowners that the agreements would extend for 40 years, be enforceable against their heirs, and result in liens on their properties. Some homeowners were misled into believing that no liens would be placed on their homes, creating a false sense of security.

Attorney General Bailey urged affected individuals to come forward and report any potential scams, stating, “I encourage Missourians to file a complaint with my office if they think they’ve been scammed.” He provided contact information for the Consumer Protection hotline and online complaint submissions, demonstrating the state's commitment to addressing consumer grievances and holding deceptive businesses accountable.

The lawsuit seeks various remedies, including the removal of liens, declaring agreements as void, providing restitution to affected consumers, and imposing substantial fines on MV Realty. Notably, the petition requests $213 million in penalties for contacting homeowners on the No Call list, highlighting the severity of the alleged violations.

In conclusion, Attorney General Bailey's decisive legal action against MV Realty underscores the importance of safeguarding consumer rights and prosecuting entities that engage in deceptive practices. Missourians are encouraged to report any suspicious activities to ensure that justice is served and consumers are protected from exploitation.