Connecticut Attorney General William Tong has revealed a real estate scam involving nearly 400 homeowners who were allegedly misled by MV Realty, a Florida-based company.
The scheme offered homeowners a small payment in exchange for the company’s right to list their property for 40 years, with some homeowners, like Christina Johnson of Meriden, only discovering the hidden lien on their property during a sale.
Johnson, a former real estate agent, was told she owed $6,000 to exit the contract, though she ultimately paid $1,000 to end the agreement. She cautioned that “free” offers often come with hidden costs.
Attorney General Tong emphasized caution, warning homeowners to scrutinize such offers carefully.
Connecticut has now passed a law limiting realty companies to listing agreements of no more than one year when any payment is involved.