The Nett Group Real Estate Advisors Reviews (%countItem)
The Nett Group Real Estate Advisors Rating
Address: 16100 Chesterfield Pkwy W Ste 260, Chesterfield, Missouri, United States, 63017
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We contracted with this group to sell our home. We closed on that sale Thursday, 7/23/2020, and believe that this group never had our interests at heart. The sale price was $115,000.00, we owed $92,500.00 and walked away with only $937.00. When we listed the property, the listing read that it was an "as is sale, seller to make no updates or repairs" so when we received above our asking price we felt very good. However, it was at this point that we feel we did not get the best service. When the buyer conducted their own inspections they found items that they wanted to negotiate with. *** told us that we should wait to negotiate until the VA appraisal was conducted, because we should only have to correct those things that the VA found to be a problem. When the VA appraisal came back we were surprised to find that they found nothing wrong with the property. *** told us that the buyers insurance company would not insure the home unless new siding was put on. We authorized this expense, but made it clear that we could not have any out of pocket expenses at close. Two weeks before close *** called me and told me that he had made a miscalculation, that instead of the approximately $9,500.00 that we had to work with, there was actually $15,000.00. At this point, we felt that in order to keep the sale moving, we could offer the buyer additional credit at close, and still be getting $5,000.00 at close for ourselves. We ended up authorizing an additional $500.00 for termite treatment, but were still expecting to get back $4,500.00 at close. The day before we closed, *** office sent me a copy of the closing settlement. The settlement said that we would need to bring with us $2,800.00, instead of us receiving $4,500.00. He said he made a mistake, when we asked to kill the deal, he said we couldn't and had to sign. In the end, we only received the $900, we feel that he did not represent our interests and will be filing a complaint with the Association of Realtors as well.
I took the listing at 551 Plymouth Terrace at a price of $110,000. The complainants and I discussed whether to sell the property “as-is” or not, and ultimately agreed to sell it without the “as-is” designation (please refer to the MLS Printout’s description section for proof). Although the complainants had begun to change their minds and wanted to sell “as-is”, we received a full-price offer that day on the complainants’ home based on leaving out the “as-is”designation.Before I went over the contract, I explained to the complainants the “as-is” issue brought to my attention earlier in the day. They agreed that it was not to sell “as-is” because of the full-price offer we had received. We went over the contract in detail and I explained about the VA loan requirements. *** stated she was aware of VA loans and agreed that a house most likely cannot meet requirements on a VA contract/loan by selling “as-is”. So I advised the complainants that we should counter the original offer and ask for $115,000 to cover buyer closing costs and make sure we got full price. They agreed, signed off on the counter offer and the buyers subsequently agreed the price of $115,000.Buyers ordered their own building inspection in addition to the required VA inspection. Numerous issues were found in the house, including structural issues involving the joist as well as other issues. The complainant agreed to give the buyers $6,000 credit to cover the issues discovered on the independent building inspection. The buyers’ agent then informed me that the buyers’ insurance company would not grant full coverage on the home because of an issue with the siding on the home. In order to keep the deal together as the sellers wanted, I recommended a siding company to replace the siding on the house. Ultimately, the siding was replaced on the house for $4,284. The VA loan inspection came back and noted termite damage, just as the buyers’ independent inspection stated. The complainant agreed to credit $400 for fixing the termite damage.The buyers’ agent then notified me the buyers wanted an additional $500 for additional repairs. I consulted with the complainants and estimated that there was enough money to work with to agree to the $500 credit for additional repairs. An amendment was drawn up and signed by all parties to change the original $6,000 credit for repairs to $6,500 to satisfy the buyers’ requests and keep the deal together.At this point, all issues with the contract and VA loan requirements had been cleared up. We were able to get the siding company and termite treatment and structural company to agree to be paid at closing. The structural repair company had agreed to complete the repairs and be paid after closing with the proceeds from the closing.The settlement statement was drawn up and it was found that the complainants would need to bring about $2,707 to closing. I contacted the complainant to discuss the settlement statement and she was upset. The complainant was under the impression that they were going to be receiving between $2,000 and $3,000 at closing, based on my original estimate when negotiation inspection repairs. Where I was wrong was estimating the closing cost to be 3%, when the accepted contract actually stated 6%. At this point, the complainants asked to cancel the sale. Unfortunately this was not an option due to the contract they had signed. They had also already agreed to pay all contractors who had completed repairs prior to closing. At this point, I agreed to give up all of my commission on the sale, resulting in the complainant recouping $3,695 on the sale. This resulted in the complainants taking home $934 at closing. I believe I have done what was necessary to make this right for the complainant by forgoing my commission on the sale. Please see below for a breakdown of the numbers.Purchase price of : $115,0006% in commission - 6900Seller paid closing costs - 6745Siding - 4284Structural - 6500Termite Treatment: - 400Prorated Taxes - 251Title Company fee: - 475Payoff $92,152 _______= -$2707Credit from The Nett Groupand *** +3695 _________Net Proceeds of: $988.00This was sent to the complainants on Wednesday, July 22, 2020 at 6:40 pm. All figures were taken off the settlement statement I received Then before closing the title company had some last minute adjustments which brought the total down to $934.This situation is regrettable and I understand the inconvenience and confusion the complainants are experiencing. I hope that everything explained above clears up any misunderstanding of the financials and responsibilities incurred from signing all contracts and amendments, and that our forgone commission of $3,695 is considered a satisfactory resolution to this matter.
Best regards