RENO, Nev. (KOLO) – Nevada Consumer Affairs says they have referred MV Realty to the office of the Attorney General after an investigation into alleged deceptive trade practices.
NCA says they investigated allegations that the company engaged in deceptive trade practices through its Homeowner Benefit Program, in which Nevada homeowners were offered money, typically between $500 and $1,000 in exchange for entering into long term exclusive real estate listing agreements.
NCA says they found evidence that the agreements were executed without the knowledge of homeowners and that memoranda of those agreements were recorded against properties, creating long term issues that impacted homeowners’ ability to sell, refinance or access home equity.
NCA investigators obtained copies of recorded documents, collected dozens of complaints from homeowners and interviewed witnesses as part of their investigation.
“I want to thank the staff at Nevada Consumer Affairs for their hard work and dedication to aggressively pursue this matter on behalf of the 800 individuals that were affected,” said NCA Director Kristopher Sanchez. “This team does important work that often goes unnoticed. I would encourage any consumer that has experienced a financial loss or hardship due to a deceptive business practice to contact their office for assistance.”
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