Barth, David W. | Principal Broker | Fairfield Bay, AR

07/01/2006 | Hearing No. 3020

In formal Hearing # 3020 the Commission ordered that “...Respondent Barth’s license be revoked immediately.  The Commission voted that Respondent Barth pay a fine of $1,000.00 per charge, for a total of $9,000.00.”

• The Commission found Respondent Barth guilty of violating Arkansas Code Annotated § 17-42-311(a) (6) and Commission Regulations 10.7(c), 9.2(b), and 10.8(g) (1).
• Respondent Barth collected rents, utility payments, and a security deposit for Complainants’ property, but failed within a reasonable time to account for or to remit said rents, utility payments, or security deposit to Complainants.
• Respondent Barth closed Complainants’ transaction but failed within a reasonable time to account for or to remit to the Complainants all of their proceeds from their sale to Buyer.
• Respondent Barth did not deposit the $500.00 earnest money tendered by Buyer into a trust account.
• Respondent closed his real estate office without notifying the Arkansas Real Estate Commission in writing of the address and phone number of the place where the trust account and transaction records are being maintained.
• A Recovery Fund Hearing was held pursuant to Arkansas Code Annotated § 17-42-401 et seq.
• Respondent Barth was ordered to pay five (5) Complainants a total of $19,929.70 within thirty (30) days.