How I negotiated $4,000 for My Buyer...Thank You Mr. Listing Agent!!!

By
Mortgage Banker with Larry Bettag - Cherry Creek Mortgage
http://actvra.in/Byz

OK....on this deal I was the attorney.  I wasn to the lender, but in any event....the problem was the well and septic.  I represented the buyer and we were going through the process, but still waiting for the well and septic report.  It lagged much later than I would have liked and the seller's attorney couldn't get the report either.

The ISSUE????  When the Listing Agent Commits Fraud!!!!

My client called every well and septic service in the county.  She then called me and asked me if I had received the report.  I said that I had.  She asked me my thoughts on it.  I said it looked perfect.  She said....REALLY?  I said yes.  She said what about the comments by the inspector.  I said "what comments?"  She said let me fax to you what I have. 

I got the report and it was the same as mine, but mine had no issues and no commSometimes you just gotta flex a little muscleents. Hmmm 

I called the seller's attorney and faxed him both reports.  The report that my client received directly from the Well and Septic company stated that it was a mess and the cost to repair would be $4,000.  The other attorney said "I didn't do it."  I knew that he hadn't b/c he was a reputable attorney.  I told him to talk to the listing agent and let him know that I'm forwarding a complaint to the State's Attorney's office and the Board of Realtors.  The listing agent  called my office in about 3 seconds and said that he didn't do alter the doc or white out the negative results or comments.  I said..."I never said that you did, but I'll let the authorities and the board of realtors deal with the issue regarding fraud.

He immediately said that even though he didn't do it, he'd be willing to pay $4,000 to my client just because of the hassle.  REALLY????  That easy?  It was worth your license? 

Let's just say that he paid the $4,000 and gave up his broker license.  Go figure.

We made it to closing and neither the buyer nor the seller had to pay a dime.  The seller likes me just as much as the buyer did!!!!

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Topic:
Real Estate Best Practices
Location:
Illinois Kane County Geneva
Groups:
ActiveRain Contests
Creative Solutions That Saved The Deal
Best Business Practices
Out Of The Box!
Almost Anything Goes
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Comments 42 New Comment

Rainmaker
318,935
John Juarez
CDPE, ePRO, SRES, GRI, PMN
Prudential California Realty

FRAUD is such an ugly word. Committing FRAUD is such an evil thing to do. I am delighted that the apparent culprit was caught in the act and paid a financial and professional price for his foolishness.

May 29, 2012 09:14 PM
Rainer
45,004
Jairo Arreola
VA Home Loan Specialist - SF Bay Area - South Bay - San Jose
Aladdin Realty

Wow! He lost everything for 4K!! I can't believe it- All the work (or lack of) went down the drain. The good thing is that your clients got their home and got the money for the repairs.

June 15, 2012 04:48 PM
Rainmaker
267,457
Kasey & John Boles - Jon Gosche Real Estate
Boise, Meridian, Ada/Canyon/Gem/Boise Counties
Jon Gosche Real Estate, Boise ID

Wow, I just cannot believe what people will do to get a deal closed.  That's ridiculous.  We've had mold issues and other things come up costing in the $10's of thousands of dollars and of course you disclose it and in some cases the buyers will still stick around.  But it's certainly amazing that anybody would hide this sort of a thing.  Awful. -Kasey

October 07, 2012 10:50 PM
Rainmaker
260,268
Wayne B. Pruner
Tigard Oregon Homes for Sale, Realtor, GRI
Oregon First

Caught red handed! I wonder what he was thinking. It's called "paper trail".

November 01, 2012 10:46 PM
Rainmaker
124,583
Matt Robinson
Pensacola Real Estate (850) 292-4000
ERA Emerald Coast Realty

Wow!  I dont know why this stuff is shocking to me, since morals seem to have all but evaporated in our country, but it's still amazing that people would do this kind of stuff.  I just don't get it...

May 07, 2013 10:39 AM
Ambassador
872,143

Larry Bettag

Regional Vice-President
What to know how to buy if you're a bit credit challenged?
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