I-TEAM: MV Realty files for bankruptcy amid controversy regarding 40-year listing agreements

MIAMI VALLEY — A troubled real estate company at the center of a nearly year-long News Center 7 I-Team Investigation is filing for bankruptcy.

MV Realty has filed the petition under Chapter 11 in 33 states, including Ohio, according to court documents filed in the Southern District of Florida.

>> RELATED: I-TEAM: State budget language curtails MV Realty’s business practices across Ohio

The I-Team’s lead investigator John Bedell first reported on the company and it’s confusing in November 2022. They give you quick cash up front, but in exchange, if you sell your home, you have to use one of their agents or pay a penalty of three percent of your home’s value.

Since our I-Team investigations, six state attorneys general, including Ohio, have sued the company. 16 states, including Ohio, have enacted new legislation targeting the company’s business practices.

>> RELATED: I-TEAM: Senators want answers from troubled realty company barred from making new Ohio agreements

As the I-Team reported earlier this week, some United States senators are now pressuring a troubled real estate company for answers on their 40-year listing agreements.

We’ve reached out to MV Realty on its decision to file for bankruptcy. We have not heard back.

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