Hi! I am trying to rent a condo going through a realtor (and the owner is represented by his realtor). I cancelled the contract because they could not get me approved in the time stated on the contract. Now the broker of the realtor who was representing me (I gave them the 2 months & received a receipt) states that I have to give her proof that my check was cashed because she can not look into the account and spouted off (extremly angrily) some B/S about some bank privacy act. I am not going to obtain any proof that my check was cashed because it costs me $10 to receive the image. The owner agreed to cancel the contract, so that is not a problem. I tried searching everywhere on DBPR & FREC and other sites for something regarding this, but no luck. Why would this broker be requiring something like this? I used to work in real estate, and this seems a little bit fishy to me. Thanks for your help!
2007-11-05 11:00:59 · 6 answers · asked by I g 1 in Business & Finance ➔ Renting & Real Estate
Oh yeah - the dates - My check was posted on 10/31/2007, so from what I understand, even if their bank (It is not an escrow company, the broker is maintaining the account) witheld the payment for 5 days, it would show up there already. - Thanks for the quick responses!
2007-11-05 11:16:17 · update #1
Thanks for all your answers! But I am not going to pay any more money for _anything_, even $10. The realtor already tried to sneak some $150 broker fee into the contract when she faxed it over to me -with out telling me about it before we went out looking at places (which I was pretty pissed about - this is not New York or anything and I refused to pay- which was probably why she dragged her feet), so if I do not get a more satisfactory answer tomorrow I am just going to report them. Or they can try to account for my deposit sitting in their account w/ a cancelled contract when the end of the month comes. Plus, when the crazy broker called me up she was extremely angry and was yelling at me and unbelievably condescending - and I never got a satisfactory answer as to why she can't just look in her account- so they deserve no cooperation from me.
2007-11-05 14:56:01 · update #2
What an awful bank you have to charge so much for a cashed check. The broker is just making sure YOU aren't trying to SCAM them, not the other way around. Maybe if you can show them the exact amount debited on your bank statement as documentation or see if the image of the check is available to you through their on-line banking website. The bottom line is that the other broker and agent are simply to unorganized to be able to verify that funds were received. Just bite your tongue until you get your money back and then call the Florida Real Estate Commission on the broker.
2007-11-05 11:11:05 · answer #1 · answered by linkus86 7 · 0⤊ 0⤋
You can't go on line and pull up the cancelled check image for free? Your bank doesn't send you images of the cancelled checks for free? I live in Florida and bank with Suntrust who provides my cancelled checks for free. Regardless of your bank that is overcharging you, it is standard practice for Real Estate Agents to verify funds went through your account first in Florida. I buy and sell property here a lot, many of which do not pan out. Once you provide them with the cancelled check showing it went through your account, they'll give you your deposit back. The reason they hold the money until then is, because, previously many Realtors were defrauded. A buyer would put down a deposit that never cleared, get a denial letter, then the Realtor would issue a check back to that individual in the same amount which did clear. Therefore, you see the reasoning behind them wanting to make sure your check clears first. The $10.00 extra is yours and your banks problem, not the Realtors, although I do wish you the best of luck, mostly with your bank.
2007-11-09 00:52:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Do not quibble over the $10. Get a copy of the canceled check and make several copies of it. Send them one copy of both sides of the check. Tell them verbally, do not put it in writing, that if they do not refund your money, that you will inform the licensing authority in your state of what has happened here. It is possible that the seller has not given the broker approval to release the money. In this event the broker or escrow agent must hold the money until the seller approves, or a court orders a release.
2007-11-05 13:49:27 · answer #3 · answered by Bibs 7 · 0⤊ 0⤋
There are 2 things here.
1. The escrow
2. The agents
The escrow is the one who has the money not the agents. However no money can legally be issued to you unless BOTH parties, thats you and the seller or owner, sign a release.
The escrow has no power whatsoever to release money to you only power you and the owner give it.
You must contact escrow and ask them to ask the owner to realease the money.
I do feel strongly however, that, since its beyond the time you specified that in a small claims matter you would 100% win.
2007-11-05 11:13:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Threaten to lodge a complaint to the local governing body for real estate and see how fast eveything will be settled.Their licence is at stake and they have a responsibility to deal with fairness with all parties concerned. You can also make a complaint with The Better Business Bureau and Dept of Consumer Affairs. Remember you are the customer and the customer is always right!!!!!
2007-11-05 11:32:39 · answer #5 · answered by angelguide 4 · 0⤊ 0⤋
She's a broker and she can't tell whether she received money from you? Tell her to please put that in writing, so you can share it anyone who's considering using her services.
As a practical matter, she sounds like she can be more than $10 worth of pain-in-the-butt to you, so I'd consider the $10 a bargain.
2007-11-05 11:08:09 · answer #6 · answered by Anonymous · 0⤊ 0⤋