It’s with sadness that I write this blog post about Unethical Real Estate Behavior. This is about a failed transaction we recently were involved in.
Purchasing a Home
The prospective purchaser had her house in Bergen County which was under contract. The closing date was about 53 days ahead of when we wrote the contract. We found her a nice home in an active adult community. The seller was an investor who had flipped the home, and I have to say that they did a nice job. We negotiated a price but she had to pay top dollar for that community. However, she loved the house and it was within her budget.
Attorney Review
We entered attorney review, sort of. The seller felt he had sufficient expertise, therefore he didn’t need an attorney. After all, he was an investor. Nothing happened for about a week. The buyer’s attorney kept trying to contact the seller to conclude attorney review, however, he ignored him. Finally a week after we had agreed on the price and terms, we received a signed contract. Soon after, we received a letter killing the deal. The seller simply said that he accepted another offer.
As a result, we have a lady who will soon be closing on her old house. Unfortunately she has nowhere to go. Don’t worry – we will find her another home. She will not be homeless.
But the investor and their Realtor think nothing about the person whose very life is being disrupted by their cavalier behavior.
When we said to the sellers Realtor “How can you be so heartless about this?” her answer was “It’s the investors decision”. I guess that makes it okay.
Then she had the nerve to tell us that the same investor should have another flip ready to sell in about a month and we are welcome to bid on that one. As if we would even consider dealing with pond scum such as these people again.
Unethical Real Estate Behavior
Legally, the investors did nothing wrong. Morally, I believe they did.
I have never, and would not treat people that way. I like to sleep at night, and I have no trouble doing so. But dealing as these people do would jeapordize that. We believe in the Golden Rule. You know, do unto others …
If you would like to deal with a Realtor whose mindset is like that, call us. Call Bunny and Art Reiman – Realtors.