Sign in

Coastal Pacific Real Estate Inc

Sharing is caring! Have something to share about Coastal Pacific Real Estate Inc? Use RevDex to write a review
Reviews Coastal Pacific Real Estate Inc

Coastal Pacific Real Estate Inc Reviews (4)

This response to the complaint dated 6-21-regarding property located at *** *** *** *** *** *** ***.The complaint stated that our company breached a fiduciary duty by failing to explain the “Buyer Exclusive Representation Agreement” which would result in a buyer
obligation to pay our agent & company.Response: The buyers told our agent they would pick from three agentsThey decided to commit to usOur agent explained to the buyers the agreement and sent it to the buyers along with an agency disclosure regarding exclusive buyer representationNo other forms were sent to the buyers at this timeAll forms used by Coastal Pacific Real Estate are California Association of REALTORS (CAR) forms, drafted by (CAR) attorneys.Response: The agency agreement California Association of REALTORS (CAR) forms clearly defines the buyer representation which is the form we tender to every buyer or seller before any transaction beginsThat’s the law, agency must be disclosed before any contract is drafted.Response: The buyer representation agreement CAR form BRE set forth an agreement between our company and the buyers to represent the buyers exclusively (not the sellers)The company may then represent buyers offers to bank owned properties, (like the one they called on, which resulted in our representation of them), for sale by owners, listed properties from other brokers not yet on the MLS, MLS listed properties and other scenarios.Complaint: Breach fiduciary duty and cause circumstances under which the buyer would be obligated to pay the company and our agent commission.Response: The BRE agreement states page 1, paragraph “3.A.2.: commission shall be paid per MLS or 3% from sellers proceeds, whichever controls”All commissions are paid from sellers’ proceeds, not the buyers.Complaint: The agent behaved in a manner that placed “closing the deal” above my best interest.Response: March 8th, buyers told company to give a referral fee of 25% to an agent in Rocklin, CA(this agent was unknown to company), our agent met buyers when they inquired about a property our agent had listed.Action: The company in good faith executed a referral to Prato Real Estate for 25% of our total commission.Result: In the buyers favor.Response: As an exclusive fiduciary to the buyers our agent began to show properties to the buyersThe property they picked was favored by the wife, it had a great view, while the husband said he preferred more square footageThe sellers negotiated an “AS-IS” saleThe listing agent said because the sellers were in a trust and their mother had to be placed in elder care immediately, they did not have capacity and they couldn’t afford to fix itOur agent negotiated on the buyers behalf in a multiple counter offer.Response: The sellers stated “As-Is” our agent suggested in other terms in a counter “Buyer understands seller is selling in “AS-IS” condition, (Health and safety issues will be addressed)The buyers offer was also day close, competing with a day all cash offer, at what price we were not toldThe offer from our buyers had no, $deposit, all of their money was tied up in the sale of their home, which was due to close in a week or soThe buyers also asked to rent the home before it closed in days, we submitted a letter of intent on behalf of the buyersThe sellers liked the fact they would have income before the property closedThat may have tipped the sale in our favor.Complaint: Agent breached the contract based on failure to meet affirmative obligations in agency disclosure.Response: Many negotiations on behalf of the buyers, not the least of which was the escrow instruction, we reviewed on behalf of the buyersUpon receiving escrow instructions from sellers escrow, a definition of “AS-IS” appeared***/Owner called the escrow agent and asked that the “AS-IS” in the instruction be removed and replaced with an exact iteration of our offer, escrow compliedThe buyers would now have some leverage to ask for health and safety issues.(Contracts, Escrow Instruction, Documents and invoices available upon request)Result: The sellers accepted the buyers counter offer 5-8-2016.The buyers talked to our agent about coordinating a home inspectionBecause they did not live together, the husband was in San Diego and wife in northern California, the husband met our agent and the home inspector at the property 5- 17-The inspector generated a page report explaining condition, location, color pictures, including an extensive reference library regarding education on roof, structure, heating, plumbing, asbestos, lead, mold, in all 22+ topicsDiagrams, schematic representations, an inventory of appliances and their serial numbersThe physical inspector provided a report noting the task to repair or replace any items with a time indicator: immediate/ discretionary/ monitorDuring the physical inspection our agent the buyer and the inspector were presentOur agent in an attempt at clearing up an issue called the owner of the physical inspection company on behalf of the buyerThe buyer spoke with the owner of the physical inspections company on the phone regarding an asbestos pipe issue, the buyer became very angry and refused to talk furtherThe physical inspector at the property was unable to determine if the gas in the living room fireplace was functionalOften when the inspector is uncertain they will suggest SDG&E inspect it for freeSDG&E inspected the gas in the fireplace and found it to be functional.Complaint: “Asbestos in the attic and home” and Asbestos was standard language”Response: The physical inspection made mention in item page of the report #Condition: old asbestos vent pipe remains in atticThe report indicates - Task: removeTime: discretionary* This pipe is not in use and was immediately removed by the Seller.Complaint: It took a two hour conference call to convince agent that the pipe in the attic known to be made of asbestos needed to be addressed because of lingering health concerns related to lung disease.Response: Our lengthy conversation with both wife and husband was regarding the purchase agreement, counter, physical inspection, rental agreement and request for repairsWe referred the husband, who demanded the sellers provide an asbestos test for the property (due to the attic pipe) to read the reference library in the inspection report (to help the buyers understand more about asbestos) # Asbestos- which indicates asbestos is a fibrous material used in many building materials, as an insulator, binder and fire resistant materialThe lengthy explanation goes on to say asbestos is present in hundreds of building products, pipes, roofing material, stucco, plaster drywall spackle, paneling, floor tiles ectIt says asbestos is considered dangerous only when “friable” in a state where fibers maybe released into the airIn most building products asbestos is not normally friableAt that point the conversation the husband raised his voice in angerI said you may want to read it as well as talk to the science lab regarding the inspection to satisfy your concernI was not suggesting you rely in any way on a description in the report libraryThe husband remained angryI feel my suggestion was still misinterpretedIn the same conversation, we discussed with the buyers, which we had researched on behalf of the buyers, a repair the sellers made of approximately $on the furnace through a company in San Diego (ARS)During that discussion the company indicated to me that the new buyers could take over the service agreement for three years which had been paid by the seller at no cost to buyersIt would require a simple transferThe other separate issue regarding the furnace appeared on the physical inspection, item #a drip leg should be installed for safety, this was not a repair and had nothing to do with the ability to take over the furnace service agreementWe told the buyers the drip leg install is something we see noted consistently in physical inspections, it’s a safety item that can be added to the furnaceThe complaint from the buyers said we attempted to persuade them to accept a warranty in lieu of a repair however they are two separate issues and there was no repairIn the request for repairs we asked the sellers on behalf of the buyers to install the drip legThe sellers denied the request to install a drip legAs agents/owners we do not make decisions or persuade buyers or sellers we simply present the options(Contracts, Escrow Instruction, Documents and invoices available upon request)Complaint: The agents’ attitude and comments were that it was “no big deal”Response: As the owner of the company and REALTOR for over 40+ years, I take all conversation, negotiations and due diligence seriouslyUnderstanding this was a serious issue for the husband I in fact agreed with him as to his need to feel comfortable regarding the asbestos issueWhen I recommended he read the library section of the report he became very angryIt was an attempt on my part to suggest asbestos is complicated and he might want to start with the reports “general definition” in the library sectionAgain, with an attempt to involve them in research I explained I was not an expert, I reached out to experts (labs) for scientific expertiseI provided my research regarding labs in San Diego who I(Contracts, Escrow Instruction, Documents and invoices available upon request)had reached out toI provide the contact information and bid ($Asbestos Test) from PITT LAB in San DiegoThe scientist suggested the buyers call him to further explainI was met with the same angerHe did not want their informationMy statement to the buyers was “You may want to talk with the lab/scientist to better understand what risk you may experience regarding asbestos in the property.” Item #out of items requested, image #(asbestos test $from PIT LAB) on the request for repairs, text over flow addendum #1, CAR form TOA, signed by buyers 5-25- memorializes our formal request from the buyers to the sellers.Complaint: Clearly the agent did not exercise skill and care in the performance of duties to represent buyers.Response: Our company engaged in a lengthy negotiation regarding the over items the buyers expected the sellers to replace or repair in this “As-Is” saleIncluding but not limited to : missing sticky labels on electric panel, an outside broken glass bulb, a fireplace damper space, install low flow toilet, missing screens, GFCI outlets, plumbing, furnace, electrical, fire door, water heater straps and various other itemsAlso they requested a $lab test for the asbestos.Result: Seller agent responded with seller will replace GFCI, remove pipe from attic, strap water heater and will fix door from home to garage, fire safety issuesSellers also agreed to credit buyers a $towards buyers closing costs at close of escrow to accommodate an asbestos testThe remaining items, even after we asked the sellers agent several times, would not be completed by the sellersThis is not our decision.Complaint: Buyers were passed on to a co-worker, “Call ***”Response: *** works with our agent as a partner, the boss is the broker, *** was involved in many aspects of the transaction and is the co-owner of the company with 40+ years of experience in both residential and commercial real estateThe buyers thanked *** in the onset for negotiating with the sellers’ agent regarding the difficulties of having no deposit and day close with a credit union that “would be an uphill battle”Also the escrow instructions and many other aspects regarding the negotiationThe buyers sent numerous text messages to our agent thanking himThe wife contacted our agent multiple times a day, sometimes starting at 5:00am or as late as 10:00pm(Text, phone and email logs available)Response: At this juncture the sellers made a decision to not fix all the items in the request, as buyers’ agents we have no power over that decision, we can only ask, which we had several timesThe sellers also indicated to us they would no longer entertain an early rental agreement before the close of escrow with these buyersWe conveyed that news to the buyers.In conclusion: After two months and three weeks of negotiation on behalf of the buyers they place a complaint with the Revdex.com.I had over an hour conversation with the wife because I was concerned they would lose their home to the baofferShe said I would have to talk to her husbandThey had a choice to accept the sellers’ repairs and take the responsibility for the othersI stressed in this market, with few homes on the market, they should think about itWe did not hear a response from themThey wrote an email to escrow to cancel based on the sellers unwilling to address their health and safety issuesOf course the buyers can cancel any time before their contingency period is over, as they didThey did not contact us to sign a release of liability and cancel the contract as I indicated is our processAs we stated the buyers are free from our agreement upon executing a release and cancel agreementWe were waiting for their response and did not receive itThere is not, nor has there ever been, a hostage situationThey instead filed a complaint with the Revdex.com which we’ve been told remains on our record for three years, as the buyers remain anonymous.We wish the buyers success in finding a home they will both love and await this resolution.As owners and professionals in our community we will vigorously defend our reputation

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.I must comment on the response provided by the business that we (the buyer) were free to be released from the agreement at any time, by attaching the email that was sent to us by *** *** immediately after we withdrew our offer for the house and expressed our desire to move on without them In summary, that email was simply an attachment of the Exclusive Agreement, with the body of the email reading "...see attached." This was a clear message to emphasize a "dare" to get on with our life without them Additionally, my wife phoned *** specifically in response to this email expressing the desire to be released from the agreement to which *** made a reference to her grand-daughters and her need to be paid for the work she had done.
Regards,
*** ***

This response to the complaint dated 6-21-regarding property located at *** *** *** *** *** *** ***.The complaint stated that our company breached a fiduciary duty by failing to explain the “Buyer Exclusive Representation Agreement” which would result in a buyer
obligation to pay our agent & company.Response: The buyers told our agent they would pick from three agentsThey decided to commit to usOur agent explained to the buyers the agreement and sent it to the buyers along with an agency disclosure regarding exclusive buyer representationNo other forms were sent to the buyers at this timeAll forms used by Coastal Pacific Real Estate are California Association of REALTORS (CAR) forms, drafted by (CAR) attorneys.Response: The agency agreement California Association of REALTORS (CAR) forms clearly defines the buyer representation which is the form we tender to every buyer or seller before any transaction beginsThat’s the law, agency must be disclosed before any contract is drafted.Response: The buyer representation agreement CAR form BRE set forth an agreement between our company and the buyers to represent the buyers exclusively (not the sellers)The company may then represent buyers offers to bank owned properties, (like the one they called on, which resulted in our representation of them), for sale by owners, listed properties from other brokers not yet on the MLS, MLS listed properties and other scenarios.Complaint: Breach fiduciary duty and cause circumstances under which the buyer would be obligated to pay the company and our agent commission.Response: The BRE agreement states page 1, paragraph “3.A.2.: commission shall be paid per MLS or 3% from sellers proceeds, whichever controls”All commissions are paid from sellers’ proceeds, not the buyers.Complaint: The agent behaved in a manner that placed “closing the deal” above my best interest.Response: March 8th, buyers told company to give a referral fee of 25% to an agent in Rocklin, CA(this agent was unknown to company), our agent met buyers when they inquired about a property our agent had listed.Action: The company in good faith executed a referral to Prato Real Estate for 25% of our total commission.Result: In the buyers favor.Response: As an exclusive fiduciary to the buyers our agent began to show properties to the buyersThe property they picked was favored by the wife, it had a great view, while the husband said he preferred more square footageThe sellers negotiated an “AS-IS” saleThe listing agent said because the sellers were in a trust and their mother had to be placed in elder care immediately, they did not have capacity and they couldn’t afford to fix itOur agent negotiated on the buyers behalf in a multiple counter offer.Response: The sellers stated “As-Is” our agent suggested in other terms in a counter “Buyer understands seller is selling in “AS-IS” condition, (Health and safety issues will be addressed)The buyers offer was also day close, competing with a day all cash offer, at what price we were not toldThe offer from our buyers had no, $deposit, all of their money was tied up in the sale of their home, which was due to close in a week or soThe buyers also asked to rent the home before it closed in days, we submitted a letter of intent on behalf of the buyersThe sellers liked the fact they would have income before the property closedThat may have tipped the sale in our favor.Complaint: Agent breached the contract based on failure to meet affirmative obligations in agency disclosure.Response: Many negotiations on behalf of the buyers, not the least of which was the escrow instruction, we reviewed on behalf of the buyersUpon receiving escrow instructions from sellers escrow, a definition of “AS-IS” appeared***/Owner called the escrow agent and asked that the “AS-IS” in the instruction be removed and replaced with an exact iteration of our offer, escrow compliedThe buyers would now have some leverage to ask for health and safety issues.(Contracts, Escrow Instruction, Documents and invoices available upon request)Result: The sellers accepted the buyers counter offer 5-8-2016.The buyers talked to our agent about coordinating a home inspectionBecause they did not live together, the husband was in San Diego and wife in northern California, the husband met our agent and the home inspector at the property 5- 17-The inspector generated a page report explaining condition, location, color pictures, including an extensive reference library regarding education on roof, structure, heating, plumbing, asbestos, lead, mold, in all 22+ topicsDiagrams, schematic representations, an inventory of appliances and their serial numbersThe physical inspector provided a report noting the task to repair or replace any items with a time indicator: immediate/ discretionary/ monitorDuring the physical inspection our agent the buyer and the inspector were presentOur agent in an attempt at clearing up an issue called the owner of the physical inspection company on behalf of the buyerThe buyer spoke with the owner of the physical inspections company on the phone regarding an asbestos pipe issue, the buyer became very angry and refused to talk furtherThe physical inspector at the property was unable to determine if the gas in the living room fireplace was functionalOften when the inspector is uncertain they will suggest SDG&E inspect it for freeSDG&E inspected the gas in the fireplace and found it to be functional.Complaint: “Asbestos in the attic and home” and Asbestos was standard language”Response: The physical inspection made mention in item page of the report #Condition: old asbestos vent pipe remains in atticThe report indicates - Task: removeTime: discretionary* This pipe is not in use and was immediately removed by the Seller.Complaint: It took a two hour conference call to convince agent that the pipe in the attic known to be made of asbestos needed to be addressed because of lingering health concerns related to lung disease.Response: Our lengthy conversation with both wife and husband was regarding the purchase agreement, counter, physical inspection, rental agreement and request for repairsWe referred the husband, who demanded the sellers provide an asbestos test for the property (due to the attic pipe) to read the reference library in the inspection report (to help the buyers understand more about asbestos) # Asbestos- which indicates asbestos is a fibrous material used in many building materials, as an insulator, binder and fire resistant materialThe lengthy explanation goes on to say asbestos is present in hundreds of building products, pipes, roofing material, stucco, plaster drywall spackle, paneling, floor tiles ectIt says asbestos is considered dangerous only when “friable” in a state where fibers maybe released into the airIn most building products asbestos is not normally friableAt that point the conversation the husband raised his voice in angerI said you may want to read it as well as talk to the science lab regarding the inspection to satisfy your concernI was not suggesting you rely in any way on a description in the report libraryThe husband remained angryI feel my suggestion was still misinterpretedIn the same conversation, we discussed with the buyers, which we had researched on behalf of the buyers, a repair the sellers made of approximately $on the furnace through a company in San Diego (ARS)During that discussion the company indicated to me that the new buyers could take over the service agreement for three years which had been paid by the seller at no cost to buyersIt would require a simple transferThe other separate issue regarding the furnace appeared on the physical inspection, item #a drip leg should be installed for safety, this was not a repair and had nothing to do with the ability to take over the furnace service agreementWe told the buyers the drip leg install is something we see noted consistently in physical inspections, it’s a safety item that can be added to the furnaceThe complaint from the buyers said we attempted to persuade them to accept a warranty in lieu of a repair however they are two separate issues and there was no repairIn the request for repairs we asked the sellers on behalf of the buyers to install the drip legThe sellers denied the request to install a drip legAs agents/owners we do not make decisions or persuade buyers or sellers we simply present the options(Contracts, Escrow Instruction, Documents and invoices available upon request)Complaint: The agents’ attitude and comments were that it was “no big deal”Response: As the owner of the company and REALTOR for over 40+ years, I take all conversation, negotiations and due diligence seriouslyUnderstanding this was a serious issue for the husband I in fact agreed with him as to his need to feel comfortable regarding the asbestos issueWhen I recommended he read the library section of the report he became very angryIt was an attempt on my part to suggest asbestos is complicated and he might want to start with the reports “general definition” in the library sectionAgain, with an attempt to involve them in research I explained I was not an expert, I reached out to experts (labs) for scientific expertiseI provided my research regarding labs in San Diego who I(Contracts, Escrow Instruction, Documents and invoices available upon request)had reached out toI provide the contact information and bid ($Asbestos Test) from PITT LAB in San DiegoThe scientist suggested the buyers call him to further explainI was met with the same angerHe did not want their informationMy statement to the buyers was “You may want to talk with the lab/scientist to better understand what risk you may experience regarding asbestos in the property.” Item #out of items requested, image #(asbestos test $from PIT LAB) on the request for repairs, text over flow addendum #1, CAR form TOA, signed by buyers 5-25- memorializes our formal request from the buyers to the sellers.Complaint: Clearly the agent did not exercise skill and care in the performance of duties to represent buyers.Response: Our company engaged in a lengthy negotiation regarding the over items the buyers expected the sellers to replace or repair in this “As-Is” saleIncluding but not limited to : missing sticky labels on electric panel, an outside broken glass bulb, a fireplace damper space, install low flow toilet, missing screens, GFCI outlets, plumbing, furnace, electrical, fire door, water heater straps and various other itemsAlso they requested a $lab test for the asbestos.Result: Seller agent responded with seller will replace GFCI, remove pipe from attic, strap water heater and will fix door from home to garage, fire safety issuesSellers also agreed to credit buyers a $towards buyers closing costs at close of escrow to accommodate an asbestos testThe remaining items, even after we asked the sellers agent several times, would not be completed by the sellersThis is not our decision.Complaint: Buyers were passed on to a co-worker, “Call ***”Response: *** works with our agent as a partner, the boss is the broker, *** was involved in many aspects of the transaction and is the co-owner of the company with 40+ years of experience in both residential and commercial real estateThe buyers thanked *** in the onset for negotiating with the sellers’ agent regarding the difficulties of having no deposit and day close with a credit union that “would be an uphill battle”Also the escrow instructions and many other aspects regarding the negotiationThe buyers sent numerous text messages to our agent thanking himThe wife contacted our agent multiple times a day, sometimes starting at 5:00am or as late as 10:00pm(Text, phone and email logs available)Response: At this juncture the sellers made a decision to not fix all the items in the request, as buyers’ agents we have no power over that decision, we can only ask, which we had several timesThe sellers also indicated to us they would no longer entertain an early rental agreement before the close of escrow with these buyersWe conveyed that news to the buyers.In conclusion: After two months and three weeks of negotiation on behalf of the buyers they place a complaint with the Revdex.com.I had over an hour conversation with the wife because I was concerned they would lose their home to the baofferShe said I would have to talk to her husbandThey had a choice to accept the sellers’ repairs and take the responsibility for the othersI stressed in this market, with few homes on the market, they should think about itWe did not hear a response from themThey wrote an email to escrow to cancel based on the sellers unwilling to address their health and safety issuesOf course the buyers can cancel any time before their contingency period is over, as they didThey did not contact us to sign a release of liability and cancel the contract as I indicated is our processAs we stated the buyers are free from our agreement upon executing a release and cancel agreementWe were waiting for their response and did not receive itThere is not, nor has there ever been, a hostage situationThey instead filed a complaint with the Revdex.com which we’ve been told remains on our record for three years, as the buyers remain anonymous.We wish the buyers success in finding a home they will both love and await this resolution.As owners and professionals in our community we will vigorously defend our reputation

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.I must comment on the response provided by the business that we (the buyer) were free to be released from the agreement at any time, by attaching the email that was sent to us by [redacted] immediately after we withdrew our offer for the house and expressed our desire to move on without them.  In summary, that email was simply an attachment of the Exclusive Agreement, with the body of the email reading "...see attached."  This was a clear message to emphasize a "dare" to get on with our life without them.  Additionally, my wife phoned [redacted] specifically in response to this email expressing the desire to be released from the agreement to which [redacted] made a reference to her grand-daughters and her need to be paid for the work she had done. 
Regards,
[redacted]

Check fields!

Write a review of Coastal Pacific Real Estate Inc

Satisfaction rating
 
 
 
 
 
Upload here Increase visibility and credibility of your review by
adding a photo
Submit your review

Coastal Pacific Real Estate Inc Rating

Overall satisfaction rating

Address: 1237 Prospect St #G, La Jolla, California, United States, 92037

Phone:

Show more...

Web:

This website was reported to be associated with Coastal Pacific Real Estate Inc.



Add contact information for Coastal Pacific Real Estate Inc

Add new contacts
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | New | Updated