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Just curious. Are the rightful owners of this business aware the buyer portrayed himself as the business owner?
Is there any relationship between the buyer and this business? Where did the buyer get the bank statement from?
I have emailed the head of this company this morning and am waiting to hear back from them.
How much is the earnest money? I would fight like he** to keep it. A fraud should have no right to get his money back. Best of luck!!
It is $2000, which is not a huge amount. But I agree with you, this is more of a principal of the matter thing at this point for me and I am going to fight like heck for it. These types of people need to be taught a lesson or they are just going to do this to someone else!
It is $2000, which is not a huge amount. But I agree with you, this is more of a principal of the matter thing at this point for me and I am going to fight like heck for it. These types of people need to be taught a lesson or they are just going to do this to someone else!
Agreed. On principle, you should fight to retain his earnest money. From a practical standpoint, however, that amount is not worth too much further aggravation. Don't take this to the Nth degree. Maybe offering half back to resolve the situation might be in order...in due time.
Your answer will lie in the contract both parties agreed to. Laws regarding earnest money can vary from state to state. Be careful of legal advice from non attorneys in forums who may or may not know what they are talking about. (And this is true on other topics, not just real estate).
I just want to point something out because a lot of people don't know this. When this kind of thing happens earnest money never gets released to someone right away. It is always tied up for a while if there is a dispute. Expect it to be held for a month or even more. Who ever is holding it at this point is wanting to be darn sure they release it to the right party and will do nothing until then. From the sound of things I think you may get it, but it will be a while.
For two thousand dollars I don't think its worth getting an attorney involved, but without seeing any of the documents I don't know how any of us can advise you what to do next.
Rather than blaming either agent, I think I would blame this criminal. From what I know a pre qual letter isn't worth the paper its printed on, but a proof of funds letter isn't either. I buy fixers with cash all the time and all they are is a letter from my bank on letter head stationary written and signed by a bank employee. It's nothing a criminal can't fake and no one calls the bank to check it. Now, unless every agent from now on is going to call the bank and speak to the bank employee and ask if they wrote it, well then. What? It isn't standard practice to do this. I don't understand why this letters existence doesn't have this buyer in some deep trouble already. This criminal is trying to buy a million dollar house with no money, credit and using a go fund me site. How could that ever have worked? The criminal mind is a stupid stupid thing.
This guy is such a crook that I wouldn't be surprised if the two thousand is stolen and not even his.
I just want to point something out because a lot of people don't know this. When this kind of thing happens earnest money never gets released to someone right away. It is always tied up for a while if there is a dispute. Expect it to be held for a month or even more. Who ever is holding it at this point is wanting to be darn sure they release it to the right party and will do nothing until then. From the sound of things I think you may get it, but it will be a while.
For two thousand dollars I don't think its worth getting an attorney involved, but without seeing any of the documents I don't know how any of us can advise you what to do next.
Rather than blaming either agent, I think I would blame this criminal. From what I know a pre qual letter isn't worth the paper its printed on, but a proof of funds letter isn't either. I buy fixers with cash all the time and all they are is a letter from my bank on letter head stationary written and signed by a bank employee. It's nothing a criminal can't fake and no one calls the bank to check it. Now, unless every agent from now on is going to call the bank and speak to the bank employee and ask if they wrote it, well then. What? It isn't standard practice to do this. I don't understand why this letters existence doesn't have this buyer in some deep trouble already. This criminal is trying to buy a million dollar house with no money, credit and using a go fund me site. How could that ever have worked? The criminal mind is a stupid stupid thing.
This guy is such a crook that I wouldn't be surprised if the two thousand is stolen and not even his.
I am not blaming either agent at this point. Do I think they could have dug deeper into my buyer? Sure - we all could have I guess. But who thinks you need to investigate a buyer of your home? I will from now on though! But in all honesty I think we were all scammed by this guy, his agent included.
I want to clarify a few things here that are not correct.
1. It is not a million dollar house. It is a $225,000 house - this guys POF's from the bank says he has a million dollars in the bank.
2. There is no go fund me page. This is a page on an investors site stating he has a contract on my house and wants someone to fund this purchase for him. And yes, I made a copy of this page for my records that clearly shows he entered this contract with no money to actually purchase the home.
I am not blaming either agent at this point. Do I think they could have dug deeper into my buyer? Sure - we all could have I guess. But who thinks you need to investigate a buyer of your home? I will from now on though! But in all honesty I think we were all scammed by this guy, his agent included.
I want to clarify a few things here that are not correct.
1. It is not a million dollar house. It is a $225,000 house - this guys POF's from the bank says he has a million dollars in the bank.
2. There is no go fund me page. This is a page on an investors site stating he has a contract on my house and wants someone to fund this purchase for him. And yes, I made a copy of this page for my records that clearly shows he entered this contract with no money to actually purchase the home.
My bad, sorry.
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