Should Foxtons let clients out?

From the APP:

Foxtons allowed to seek bids for home listings

Foxtons North America Inc., a West Long Branch-based real estate broker that abruptly began shutting down its operations two weeks ago, can seek bids for its listings from other Realtors, a bankruptcy judge ruled Wednesday.

But Judge Michael B. Kaplan cautioned that he wants to hear arguments about the impact on Foxtons’ customers before he allows their contracts to be assigned to someone else.

“There’s little lost in allowing (Foxtons) to start on this venture,” Kaplan said.

However, roadblocks might be looming. Carol Knowlton, an attorney who represents a Foxtons customer in Woodbridge, said Kaplan should prevent Foxtons from selling its customer listings.

“What right does the debtor have to impose upon these individuals a Realtor they don’t know?” Knowlton asked.

It was a thought echoed after the hearing by Alice Zavoki, 60, of Springfield. She and her husband signed a contract for Foxtons to sell their home about a week before the company began to shut down.

Caught off guard, she said, their plan to sell their home, retire and move to Ocean County is on hold indefinitely. The uncertainty has been frustrating enough to keep her awake at night.

“I want to be completely absolved from this contract,” Zavoki said in an interview. “I don’t want any dealings with (Foxtons), and I don’t want them to choose for me what company is going to sell my house.”

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1 Response to Should Foxtons let clients out?

  1. Clotpoll says:

    Yep, those folks who listed with Foxtons really beat the game, didn’t they?

    Get people to focus more on what they pay than what they get…still step #1 in the perpetration of every scam ever invented.

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