Respondent: Karen Dill, Principal Broker, Dill Real Estate Company, Little Rock, Arkansas, Formal Hearing #03661
Violations: Commission Rule 8.5(a) and Arkansas Code Annotated §17-42-311(a)(2).
Sanctions: The Arkansas Real Estate Commission ordered Respondent Dill to pay a penalty in the amount of $500 within six months of the date of the order and complete six hours of continuing education in Agency in a course approved by the AREC Executive Director.
Summary: Respondent Dill represented the Buyer in the purchase of a property. The property had moisture issues and a mold inspection was ordered. The preliminary inspection report indicated elevated levels of mold in the property, but the final report could not be completed until after the scheduled closing date. The Buyer decided to close on the property with the expectation of receiving the full mold report when it was completed. The Listing Broker delivered the mold report to Respondent Dill. Respondent Dill failed to provide the mold report to the Buyer in a timely manner.