Traci the realtor said if you buy my house I will give you 5000.00 at closing.She said I will selll the house to you for 115000.00 but we will take out the loan for 120000.00 so she would get more of a cut for being the realtor.She also wrote a statement saying she would pay the 5000.00 within 24 hours of closing.That was thursday we closed and this is sunday and she is avoiding me.She said the deal was still on but everytime she agrees to meet me she never shows up or calls.What can we do about this.?
2006-11-19 13:09:37 · 11 answers · asked by Cindy 4 1 in Business & Finance ➔ Renting & Real Estate
Be really really agressive on getting what is due to you! Don't let Traci call the shots just because the deal is closed with escrow... as far as your concerned the deal is not over so Traci needs to pay you regardless, especially with a written statement.
Traci might just be waiting until her check clears ( which can take a week) to pay you back.
Although make sure you keep calling Traci and calling her Broker and visiting her office daily to let her know you mean business and can't be taken advantage of.
Good luck.
2006-11-19 13:24:48 · answer #1 · answered by jmilil 3 · 0⤊ 0⤋
Cindy,
Traci did not get $5,000 extra for selling you the house for $5,000 more. You, the seller and Traci all have conspired to commit loan fraud. I believe that's a federal offense.
The mortgage company has lent $120,000 and has been told that they've lent 100% of the value. What you've stated is that the three of you got together to steal $5,000 from the lender. They've lent more than 100% on the house, so you could pocket the extra.
I do suggest contacting an attorney, but not a real estate attorney, to "get your due" from Traci. Contact a criminal attorney for when the feds call you.
2006-11-19 14:55:39 · answer #2 · answered by teran_realtor 7 · 1⤊ 0⤋
Did you get all this in writing? And if this was done "above board," it should all have gone through a title agency who would have divvied up the proceeds exactly how they were spelled out in the contract.
Nevertheless, as a realtor, Traci is held to a higher standard than your average/normal homeseller. Call her company broker immediately (call the office and ask to speak with the person in charge) and also contact your state dept of Real Estate and submit a complaint. You can also call your local Realtor Association and file an ethics complaint. Once you start going above her head, things will start happening, and fast.
2006-11-19 13:14:56 · answer #3 · answered by whatever 3 · 2⤊ 0⤋
Your Realtor isn't very smart as well as giving you very poor advice. I am SO GLAD you are smarter than she is. This is what I would do if I was your Realtor. I would put your house on the MLS (no one says that they have to put a lock box on your property....get it?) that way you can technically say it's "on the market". All the sellers want to see is a copy of the listing agreement and the MLS printout as evidence it's on the market. I would so write the contingent offer ALONG with evidence of any and all recent sales in the last 6 months to demonstrate how often they were on the market before they sold. If I were representing the seller...that is a VERY good offer if the homes sell as quickly as you say they do. Keep in mind that contingent offers typically allow for the sellers to continue to market the house with a 48 to 72 hour kick-out clause to give you a chance to remove the contingency, should a back up offer come in. Alot of people have posted that have no idea of how a contingent contract really works...it is NO RISK for the seller whatsover if the offer is presented correctly....b/c the kickout clause gives the BUYER one last opportunity to remove the contingency before the seller can move-on to the backup offer.
2016-05-22 05:35:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I agree with teran_realtor. Number one it seems that she was dual realtor meaning she had both sides of the transaction. In the states that I am licensed in as a realtor if I own a home or buy a home I have to state that I am a licensed realtor in the contract. See if that is in the contract of sale. Two, she basically made it where you are paying $5,000 more in principle and interest on your mortgage which she has now made $5,000 off financing and $5,000 by not paying you. Make a complaint her against her against your state Real Estate Commission. Realtors have to pay error and ommissions. Good luck.
2006-11-19 16:10:44 · answer #5 · answered by Melissa 2 · 0⤊ 0⤋
Don't fool w/the b****, in the morning call a real estate attorney and make a demand for the money or else, the attorney will fill in the or else. Don't allow her to lead you on. Please don't do the "well, she is a nice person and she did have a valid excuse". You never know what another person will do. Act fast and stand your ground. I have no personal experience in these matters but I know people and she may just be a crook.
2006-11-19 13:15:02 · answer #6 · answered by sideways 7 · 1⤊ 0⤋
You are likely a party to loan fraud.
There is no guarantee that Traci is a Realtor.
Good luck.
2006-11-19 16:25:42 · answer #7 · answered by HMMMMMM 3 · 0⤊ 0⤋
Look in your paperwork it might be there it could be one of the deductions that you know nothing about in fine print if not there report her 2 her supervisor.Good Luck
2006-11-19 13:18:26 · answer #8 · answered by sugarbdp1 6 · 0⤊ 0⤋
Agree with prior poster - based on what I read this sounds like you both conspired to commit loan fraud (even if unknowingly on your part).
2006-11-19 15:12:59 · answer #9 · answered by Anonymous · 0⤊ 0⤋
call her boss. the better business bureau and a lawer, it you really want to get nasty call the local paper
2006-11-19 13:13:04 · answer #10 · answered by dawn_horger 3 · 0⤊ 0⤋