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Dude A said he will buy my house. Closing was set. The closing date was 2/9/16. I signed docs. Money has NOT been wired to me yet.
Dude A, although he does not own my house officially (if ever), has already advertised on the net several places as 'for rent'. When I question him about this - he said he likes to check out the market before commiting . . . Can he legally advertise for rent - a property he doesn't own?
So, the closing did not occur. I don't know why A would do this if he is not purchasing the property. You can back out if the closing did not happen, as I assume in the contract there was a specified date.
I'm not sure it's illegal per se to advertise a space for rent that you don't own, but on a practical level, I don't see how this does much good, as you would not be able to access the space to show any prospective tenants. I guess tenants might rent it sight unseen, although I don't know how they would get keys. If they somehow got into the house, you could have them removed as they would not have a right to the property, having been defrauded by A, which would be a crime.
It could be illegal to advertise if it resulted in some sort of harassment of you as the owner.
If A is claiming ownership of the property and did not pay you, that would be a crime. Has he filed deeds and whatnot? Did this go through a title company and/or attorney?
My worry would be that he is running a scam and collecting rental deposits and credit apps from potential renters and telling people he is buying house, but has no intention of doing so. But he could show rental prospects a copy of the purchase contract to allay concerns by people that might check city records and see a different owners name.
I'd make sure he doesn't have a copy of the key to house, or gar door opener. Is there a buyers agent? Is he paying cash? Did you get proof of funds from his bank? What does the title Co say? Has closing date in contract passed?
What do you care? Wait until closing then deal is done. (why haven't you gotten the money yet?)
He advertised for 28 days prior to our supposed closing. I wonder to, why I have not gotten my money yet. I smell fraud. Do you? What do you suggest I do next? Thanks very much.
He advertised for 28 days prior to our supposed closing. I wonder to, why I have not gotten my money yet. I smell fraud. Do you? What do you suggest I do next? Thanks very much.
Where is your Real Estate Agent, attorney and escrow/title company in all this, or are you doing it all yourself??
So, the closing did not occur. I don't know why A would do this if he is not purchasing the property. You can back out if the closing did not happen, as I assume in the contract there was a specified date.
^^^ I went to a title company by myself. I signed 'my docs'. The title lady notarized things. There was a closing via dotloop that both 'buyer' and myself signed. However, at the title company, I was the only one there.
The 'used to be excellent with communication, realtor (sp) has suddenly turned silent. He said last night via an email that he would email this morning. It is now 5pm and I still have not heard a word from him.
I will quote directly from my title company paper work:
"Please distribute my proceeds check as follows. (Continental Title is authorized to deduct any applicable fees from net proceeds.)
***Mail to: ____________________________________
***UPS to: ____________________________________
***Wire
Proceeds: ____________________________________ (this one was checked)
($20.00 fee)
***Please wire my proceeds to the following. Continental Title is authorized to deduct wire transfer fees from net proceeds.
PLEASE VERIFY WITH YOUR BANK THE ABOVE WIRING INSTRUCTIONS (Incorrect wiring instructions can result in your funds being delayed)
___________________________________________ (that is place were I signed my name)
^^end quote
I filled out the blanks for my bank info -- the bank name, the ABA No., the name of the account and my account No.)
I have not talked to my bank about the 'wiring instructions'.
Thank you very much for your help.
Again, I spell fraud. Do you? Hire an attorney or a MO realtor? Do you spell fraud? Thanks again.
I'm not sure it's illegal per se to advertise a space for rent that you don't own, but on a practical level, I don't see how this does much good, as you would not be able to access the space to show any prospective tenants.
The middle man (a 'realtor') I guess - put a lockbox on the front door. He had my permission to do so. I imagine he was able to let the 'buyer' in. But supposivedly the 'buyer' is in Berlin, Germany.
I guess tenants might rent it sight unseen, although I don't know how they would get keys. If they somehow got into the house, you could have them removed as they would not have a right to the property, having been defrauded by A, which would be a crime.
^^^ Prospective 'buy' was checking out the market. Seeing if there was any interest in the house. He was doing these things via advertising on the web -- 28 days before our supposed closing.
It could be illegal to advertise if it resulted in some sort of harassment of you as the owner.
^^^ That didn't occur. It would not have any way as he (the 'buyer') listed himself as the 'property manager'.
If A is claiming ownership of the property and did not pay you, that would be a crime. Has he filed deeds and whatnot? Did this go through a title company and/or attorney?
^^^ It went through a title company as noted above. He is not claiming ownership but is claiming to be the 'property manager'. He had the website configured so that if anyone was interested in renting the house, they would contact HIM, not me.
This doesn't make much sense.
Do you spell fraud? What do you think my next steps should be? My once very communicative 'realtor' has fallen silent. Last night he sent me a short email about he would contact me this morning. It is 530pm. I still have not gotten any communication from him all day. We used to talk or email daily for 2-3 weeks at least twice a day. Now . . . NOTHING.
Where is your Real Estate Agent, attorney and escrow/title company in all this, or are you doing it all yourself??
The real estate agent who used to be excellent with daily communication has remained silent. Last night he promised to email me this morning. That never happened. I went to the title company by myself. I asked 'real estate agent' if he could be there . . . he said 'no, i'm busy that day.' I was the ONLY one at the title company except for the office manager/escrow closer who I was 'working with'.
Do you smell fraud? I do.
What do you think I should do next?
Thank you very much.
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