Prudential Premier Properties

Review: Worked with [redacted] on a lot property he had listed. before the close date, my realtor advised him that the Mortgage company needed a few more days and asked for an extenstion. [redacted]

verbally agreed and said he was on the golf course and would get it signed and back to us that weekend. Then proceeded to give a secondary buyer the lot after we passed our close date without giving us an option. We would have closed with cash if there was a secondary buyer or if there were issues with the extension.Desired Settlement: request there be action taken on the realtor [redacted]. We need to make sure that this type of business practice is unacceptable - I am working with an attorney to see what other rights I might have based on this activity.

Business

Response:

I am very sorry that Ms. [redacted] lost the ability to purchase the vacant lot in [redacted]. Although I am not an attorney, I will attempt to communicate my understanding of Ms. [redacted] contract to purchase the lot and further clarification of the circumstances.

For background clarification, Mr. [redacted] is working for the Seller, not the Buyer, which makes the Seller a client of Prudential. Wisconsin Agency Law forbids Mr. [redacted] from giving information or advice to other parties who are not broker’s clients, if giving the information or advice is contrary to the Seller’s interests.

Conversely, Ms. [redacted] was represented by a Buyer Agent from another real estate brokerage firm where she should receive the same client level services afforded to our Seller by Prudential except provided by her broker to her. Ms. [redacted] says that her Realtor said her mortgage company needed a few more days and asked for an extension and that [redacted] verbally agreed and said he was on the golf course and would get it signed and back to us that weekend. To address this statement, the Seller has no obligation to grant the Buyer any extensions. Ms. [redacted] contract further states that “time is of the essence” as it relates to the date of closing and contingency deadlines such as financing. Furthermore, although not relevant, Mr. [redacted] did not say he was on the golf course and Mr. [redacted] cannot speak on behalf of the Seller and all agreements in real estate must be in writing to be enforceable.

According to the contract, Ms. [redacted] had the ability to purchase and close on the lot no later than May 30, 2014 but she failed to do so putting her in default of the contract thus allowing the Seller to accept another offer.

Although we sympathize with Ms. [redacted], we see no wrongdoing on the part of Mr. [redacted] or Prudential in this matter and no further action will be taken. Should you have any questions please contact me.

Best regards,

[redacted] Founder/Co-owner

6040 39th Ave. Ste. 4. Kenosha WI 53142