MV Realty’s predatory practices
A year later, when Walsh decided to sell her home, she tried to contact MV Realty. Their numbers were disconnected, emails went unanswered and the only office listed was a storefront in Centennial. She says she even visited the storefront, but it was empty.
“I couldn't find or contact any of them when it was time to sell my house,” Walsh told 9 News.
Reporter Steve Staeger also visited the address MV Realty provided, but no one there knew anything about the company.
Walsh assumed the company went out of business, so she moved forward with another real estate agent, found a buyer and put her home under contract. But the next day, she was hit with a lawsuit. MV Realty claimed a breach of contract and demanded nearly $20,000 despite doing no work to sell the house.
"They literally did nothing for that money," Walsh told 9 News. "It’s completely unscrupulous."
MV Realty’s so-called Homeowner Benefit Program offered homeowners quick cash in exchange for exclusive rights to list their property when they decide to sell. The contract, which is valid for 40 years, remains attached to the property even after the homeowner’s death.
To enforce this, MV Realty files a memorandum with the county clerk, ensuring they receive a commission whether or not they handle the sale. Then, they wait.
Walsh isn't alone. According to 9 News, more than 900 other similar agreements were made across Colorado between 2021 and 2023. Poncietta Chavez, another victim, says she'll have to die in her home unless she can find a way to get out from under the contract.
"It's just something we have to live with now. Unless we can find a way to dump them — without paying them $15,000. Because I don't think they deserve it."
MV Realty’s agreements have drawn lawsuits in seven states, and Colorado legislators have taken action. State Senator Nick Hinrichsen sponsored Senate Bill 77 to ban these contracts, which passed with bipartisan support. That's good news for homeowners. However, the law only prevents new agreements — it doesn’t help the 900 homeowners already locked into the 40-year contracts.
"It’s incredibly difficult for legislation to attack contract law retroactively, and this legislation does not," Hinrichsen explained to 9 News.
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Learn More3 real estate red flags to watch out for
These cases highlight the importance of staying wary when working with real estate companies. While most realtors and realty companies are legitimate, some are only out for fast cash. Here are three red flags to watch out for:
1. Offer of 'fast cash'
Any time a company offers you fast cash for what appears to be little or no work, be wary. MV Realty’s offer came at a time when many victims were struggling financially, making the deal seem like a lifeline.
But these arrangements often come with hidden, long-term commitments that could cost you thousands in unexpected fees, penalties or legal entanglements. Always read the contract in full, and if something seems too good to be true, consult a real estate attorney before signing.
2. Misleading or confusing contracts
Many people skim contracts without fully understanding the fine print — something predatory companies count on. Contracts filled with dense legal jargon, vague terms or hidden clauses should raise immediate red flags. If a company refuses to provide a clear, plain-language explanation of the agreement, proceed with caution.
Look for excessively long terms, automatic renewals, clauses binding heirs to the agreement and high exit fees. If anything is unclear, ask questions. If the company's answers don't make sense or seem evasive, ask a real estate lawyer to review the contract.
3. Long or difficult to exit terms
A legitimate contract should have clear, reasonable terms for cancellation. MV Realty’s agreements locked homeowners in for 40 years, even if they no longer wanted to sell or had passed away, binding their heirs to the deal. Be cautious of contracts that impose excessive penalties for canceling or make it nearly impossible to exit without financial loss. If a company refuses to discuss cancellation options upfront, that’s a major red flag.
MV Realty is now banned from carrying out licensed business transactions in Colorado going forward, while Florida’s State Attorney General has prohibited the company from enforcing liens and collecting early termination fees from those that were already victimized.
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