Question to everyone how do u feel about some one trying to represent that they have an agreement to buy a home for the purpose of flipping it when they have no agreement . Should they be prosecuted and if so How would you deal with this . I recently had some one try to do this to a client of mine. I am trying to decide what to do with him .
Maya Singleton: you should make people sign intention to purchase agreement
Elias Ross: I am a realtor my deal is solid this guy tried to miss represent and committed fraud . We call it a notice of purchase and sale here . And when flipping I use them
Maya Singleton: if not u wont do anything
Kennedy Hunter: ?
Adriel Green: Not sure if lying is a crime, best to contact an attorney.
Adriel Green: My recommendation, is to drop it….and go around him directly to the owner. Unless of course your client signed an agreement with that guys, then your guy may be liable to pay a fee, unless there are contingencies that will allow him from no buying the property.
Elias Ross: He committed fraud and took my signs down I am a realtor and a flipper I had it listed .
Adriel Green: Oh, you did not note that.
Elias Ross: Adriel Green: sorry I should have been more specific .
Adriel Green: Did your sellers have knowledge this guy took down your signs?
Adriel Green: I would think it would be best to talk to legal counsel, does your board provide same or does your brokerage?
Adriel Green: Did you talk to local pd, what did they say?
Elias Ross: Adriel Green: not till I told them . They are out of town . We have a closing set for 1/5/2017 so I stoped the damage from his fraud . But I hate for someone to try to represent that they have a contract with my or Any seller when they in fact do not . It makes us as investors look bad . I am wanting to report him to the BBB ,the police , the Atty Genrals office and the real estate commission. I am holding off because I am afraid it will make us all look bad if the media gets ahold of the story.
Elias Ross: Adriel Green: I am on the local REIA board and the guy is not a member . I also run the local club here in Burlington . Since he is not a member they can not do anything from that angle .
Emmalyn Leonard: Its false representation/fraud. RE commission and BBB, AG are a good start, but if you really want this guy gone-sue.
Virginia Hammond: 1 star ratings online.
Elias Ross: I will try to see if he is on Facebook or google as a business my guess is he does not.
Mark Roy: Better to talk to your broker and follow his advice, That I stopped the fraud comment you mentioned before may get you in trouble if you have contracts sign already. your broker will backed your up better than any advice you get on any club or social media, report the incident and go on with your life, you cant try to straight up every a..hole that you encounter in your business. Good luck and Happy New Year to All in the Group.
Elias Ross: I am the Broker In Charge . And I am torn about how to handle it . My main concern is if I place a complaint it may make all Wholsale flip investors look bad . I want to avoid that. To address your comment he straight up committed fraud . When you let others into a property that you do not own nor do u have a contract to buy. Lie to others and tell them your selling the home that u do not have a contract to buy. Then allow perfect strangers in to the home by leaving a back door unlocked . (He did get the key from the seller so he could look at it, but that seller never gave him permission to show others or leave the back door unlocked ). And the seller never contracted with him to sell the home to him. In specific he committed real estate fraud. Now all that said I think your right I need to report it turn in my evidence and move on.
Finley Newton: Unfortunately some are treating wholesaling like its the Wild West and doing some crazy stuff. I took an expired listing and the previous agent had put the home under contract with himself then put it in the MLS for $15k more than his purchase agreement. When he couldnt find someone to sell it to he never contacted the seller (never gave a deposit) and just walked away. Luckily it worked out because i was able to get her $35k more than she agreed to sell it to him. With all that being said, its important to call these people out for doing the wrong thing or more people will continue to engage in these practices. Small towns enforce jay walking not because people cant cross the street but to show that rules are rules and if they enforce the small ones then people will think twice about committing the big ones.
Hazel Fields: Dont understand your question
Elias Ross: More bluntly when you catch someone in real estate fraud do you think they should be brought to justice or not?
Hazel Fields: Elias Ross: bottom line yes.
Carmen Steele: The juice isnt worth the squeeze. If you didnt get hurt, carry on.
Lauryn Mcdaniel: You could send him a cease and desist letter, although it would be better if it came from an attorney friend with the statue of law. If he is not a real estate agent then he is practicing real estate without a license illegally and in Florida that could get you a trip to court. If he is an agent then report him to the board if you like, however how much time do you want to waste on this person is up to you and how often he may do it again.
Caleb Wheeler: Remember we are not attorneys.
Caleb Wheeler: If you have the listing you have the contract, If you represent the buyers thats another story If you dont have an accepted offer. There are hundreds of investors playing tricks on homeowners by practicing Real Estate without a license. Be careful with them. Thats why Its important for the club members to do business following some rules. To be able to keep credibility and respect specially for us Realtors/investors
Evelyn Tucker: This is very interesting. I would like to hear more…??
Michelle Pope: I would talk to the person in question first, could be a novice that doesnt know processes. Try to handle things on a more local level. If situations cant be resolved then I would bring it to the next level. You could talk to this person and even though he was wrong might have a better understanding and instead of reporting him to authoritys and such you might find that…. all that was needed was education.Keep us in the loop of the end result. Im intrigued to know the ending to this story!
Kenneth Norton: 1st thing 1st. I am not an attorney and this not in any way legal advice.There is a difference in civil and criminal legal affairs.It sounds like you have been damaged with of loss of money. If Im correct… call your local clerk of court and file a small claims lawsuit.Small claims court is for individuals and small business not to have to hire a lawyer. The fees are extremely affordable. The clerk of courts office can not give you ANY… Legal advice.Ask them what forms you have to file. Yor local sheirffs charges an affordable fee for civil process.
Elias Ross: I stoped him and was not harmed but he may harm some one else
Kenneth Norton: My family is from Burlington NC.Its a small world.
Brielle Potter: Wow. So many new wholesalers out there trying all kinds of stupid newbie crap. Ive had wholesalers contact me about properties they supposedly had, then when they sent me information on the properties, they were ones that I owned already and I had listed for sale. They just copied my ads and raised the price a little, then were sending it out like they had it under contract. I guess if someone expressed interest, they were planning on calling me to negotiate a deal.
Michelle Pope: Lol
Elias Ross: Lol amazing
Vivian Mills: Dont waste your time any further
Hunter Lamb: Yes