Irishmen Sue Local Agent and Friend Over Misrepresentation

Several Irishmen have sued a local real estate agent (and friend) for fraud after they found out some information about a 2008 home purchase.

HC 1In 2008, Ireland residents Paul Donnelly, Robert Galbraith and Ronald Fair purchased the 3,868-square foot waterfront Belleair Beach home, located at 319 Belle Isle Ave., from trusted friend and licensed real estate agent Paul Kelly.

The property was listed for close to $2.3 million, but since it was a foreclosure property, the home could be bought for a $1 million less.

In order to secure the property, the trio wrote two separate checks – one for $40,000 (property deposit) and $132,500 for the fees related to the foreclosure.

The trio opted to sell the home in 2016 and looked over the initial purchase’s closing documents. This is when they found out the truth about the sale and home.

After looking at the HUD, they found the $132,500 payment to Kelly was not recorded – and they have no idea what it was spent on. They also found out the property was not listed for over $1.7 million. In fact, it was listed for less than $1.3 million.

Since the previous owners paid cash to buy the property, the home wasn’t in foreclosure.

Since the men were not in the country when the property was purchased, they trusted Kelly to ensure they’d get a good deal. They have filed a lawsuit, and Kelly faces five counts of breach of fiduciary duty, fraudulent inducement, deceptive and unfair trade practices and negligent misrepresentation.