The Property Whiz

In May 2016, The Property Whiz entered into an option agreement to purchase the real estate from the home ownerIn an effort to help the home owner repair their credit and get back in good standing with their mortgage company, The Property Whiz offered a down payment to cover the amount that the home owner was in default forIn order to make the property work for us, we had to pay down the mortgage amount over a period of timeWe agreed that there would be an option period of months, and at the end of those months, the home owner would receive a balloon payment of $115,000, while getting a monthly payment for the months of $a month.After reviewing the current market situation, we determined that we could not purchase the property for $115,The Property Whiz and the home owner met and renegotiated the balloon payment, to now be $95,000, and a new option period of monthsThe Property Whiz placed a tenant in the house on a rent to own basis, and their intention was to purchase the house outright after yearsAfter only months, the tenant buyer defaulted and was asked to surrender possession of the propertyThey did soWe went in and cleaned the house up in order to rent it again.*During this time between tenants, The Property Whiz and the home owner both violated the option to purchase agreementWe did not submit monthly payments to the home owner (put TPW did make up those payments), nor did the home owner pay the mortgage company payments, which was specified in the agreement that they need to stay current with the paymentsAt this point the agreement should have been voided.The Property Whiz agreed to continue to try to help themWith the mortgage being in default again, the home owner racked up over $8,in late fees, penalties, payments, which The Property Whiz paidDuring our meeting where we renegotiated the balloon payment and term, and despite our recommendation to reduce the monthly payment as well, they did not comply and were notified that it might be tough to get a responsible party in to occupy the house at a rent that was that much above the market rateShortly thereafter we found a new tenant buyer that looked to have adequate financial standing to be able to afford the payments, and they agreed to purchase the property outright after monthsTheir tenancy commenced Nov2016.Several months into the new tenants being in place, the home owner approached The Property Whiz several times asking for us to purchase the property "soon" at the purchase price of $115,[redacted] After looking at the recent home sales in the area, we determined that we could not do that, and would wait for a better time when the home sale prices increased a bit.**This price was no longer valid because we had a newer agreement in place for $95,000, but the home owner insisted $115,was the price.The new tenants has fallen behind on payments twice during their year in the houseThey defaulted on their rent to own agreement, and were now under residential lease termsThroughout their tenancy, the tenant pointed out several major issues with the houseThe Property Whiz proceeded to pay for new windows in the house and a new hot water tankThe other major issue was a water problem in the basement which was not disclosedThese issues contributed to the tenant's decision to withhold rentThe Tenant's lease agreement was to expire December 1, 2017, That date arrived, but the tenants did not leave the homeAt this point, The Property Whiz notified the home owner that they did not wish to exercise their option to purchase the property***The Property Whiz proceeded to start the eviction process at that time as wellWe had a court date on December 9, 2017, which The Property Whiz, the home owner, and the tenant did all show up forThe Property Whiz was awarded a judgement for $4,as a result.The tenants have since vacated the houseThey left more of a mess than expectedThis was because they had planned on coming back to get the rest of their things and clean the house up, a couple days after "their move out date", but they didn't make this known soon enough, as the home owner had already changed the locks to the house.There has been rumors that the tenants will try to appeal the judgement rewarded to The Property Whiz, but we have not received notification of this yetRegardless, an appeal will most likely not be successful, since the tenants openly admitted/confirmed to the judge the amount of rent that they owedIt is the intention of The Property Whiz to send the entire judgement amount to the home owners, once received from the tenantsThis amount of $4,and change would be far more than enough to cover any cleaning and/or drywall patching needed as a result from the previous tenants.***The agreement between parties was an option to purchase agreement in this transactionThe Property Whiz technically had the right to walk away from the property at any time we wished, periodBut we stuck around and helped the home owner out financially a great dealThey very well may have gone to foreclosure without our assistance

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.March 6, 2018 Revdex.com, I am rejecting the response from the Property Whiz since most of the response is untrue. I contacted the Property Whiz in May 2016 to sell my home as it states on all their advertising that they buy houses. I had a bad experience with a renter and had to spend thousands of dollars in new carpeting and other various repairs to get the property back to good condition. I sat down with Mike P[redacted] and we agreed to do a rent to own agreement and that he would find the tenants. He agreed to do background and financial checks on the future rent to own occupant.  We signed an agreement of the purchase price at $115,000 with a down payment of $5000 and $973/month of 180 months. He stated that a rent to own occupant would be putting a $10,000 down payment. Which $5000 would go to property whiz and $5000 to me. The renter would then pay 973/month for 3 years and balloon payment would be made at end of term. My home was not in foreclosure at this time. The amount due on the mortgage at that time was $4517.44. The down payment of $5000.00 would put that back in good standing. Mike P[redacted] then got a tenant in the home without doing a background and financial checks. Upon my own background check she had several judgments and liens against her for nonpayment and destruction of multiple rentals most of which were current. This tenant signed the agreement with Mike on June 20, 2016. Her agreement was $1000/month and purchasing the home for $95,000 at end of term. His agreements with the tenants was never discussed with me as my contract was with him and the tenants’ agreement was with him. She never put a down payment down and never sent payment for the next month. I had neighbors contacting me while on vacation stating that there were drug deals and people going in and out all hours of the night. Mike then got her to leave without filing eviction. So therefore, Mike P[redacted] as per our contract was going to give me payments totaling $5000. One on July 1 of of $2000, one on July 15 of $2000 and Aug 1 of $1000. Waiting for the payments was not going to work because at that time the house did go into foreclosure waiting for these payments. The mortgage company would only except full payment with an official check from the bank itself and had to be overnighted in the amount of $7,719.24. Which was paid 8-30-2016. So yes, Mike P[redacted] did bring it out of foreclosure because it was his mistake with not having a proper tenant in the home. After this situation I heard nothing and drove past only to see that someone was living there. I texted Mike asking about the house and said that he had got new rent to own tenants in. I asked him to then email me the agreement between them. Their agreement stated that they would be paying $1100 a month with a $3300 down payment and purchasing the home for $130,000. I never received any part of this amount that the tenants put down that went directly into Mike Pastors pocket. They signed Oct 29, 2016. All payments were being paid to me through MPJ Holdings LLC throughout there occupancy. In Dec 2017 I had not received payment from Mike and my husband and I kept calling and texting with either no response. Finally, he said that he was out of town and it was on his desk. Still middle of December no payment then he stated that he had filed eviction on them for nonpayment. We told him that he was still responsible for making payment and can’t just stop paying. He then sent December payment. The mortgage was current until then which late fee was added. I went to the magistrates to find out the hearing date as I am the homeowner and felt I should be there because Mike had not been responding to any text or emails regarding my house. The hearing was on 12-28-2017. The tenants claim that Mike did not come over and check any complaints they had and that they withheld the December payment because of this. I was not informed of anything that was being done to the home. Mike did not make me aware of any issues that was happening during their occupancy. I spoke with him after the hearing and stated that there was never anything like this happening before and asked if their claims were legitimate. He didn’t really have any answers, so I thought it was just because they were upset on their dealings with him. The tenants claimed there was water damage which never had been a problem previously either when I lived there of when my tenant had lived there. So, I could not disclose information that I was not aware of as Mike had stated in his response. The hot water tank was brand new when I purchased the home in 2014 and have documentation of that. I also have a structural engineer report that states no water damage exist. If any mold was accumulating is was due to not using a dehumidifier in the basement. I was told by Mike that the tenants would be out on Feb 10, 2018 and I then went to the home on Feb 12, 2018 and the property was in terrible condition. Busted doors, holes in the walls, drug paraphernalia on the counters, dog feces all over the basement floor. The front door of the home had to be completely replace because it was busted at the frame. The cat and dog odor were unbelievable. We had to treat all the floors and seal them to eradicate the smell. We changed the locks that day and let mike know the condition of the home. I tried calling and texting and he has never responded. He only sent me paperwork to get his name off the deed to my house which was filed at the courthouse. This cost me over $80 to do. I have had to make several repairs and spend tons of money to get the home back in the condition that I handed it to him. I believe that Mike P[redacted] AKA Property Whiz is a total scam. He never paid me for the mortgage for Jan or Feb which his tenants were still occupying the premise. If he gets any money as far as the judgement is concerned, I know I will not see a dime of it. He led me to believe that he was doing a rent to own agreement and that he would be purchasing the home this whole time. However, I gave him the option to purchase before telling him that if he couldn’t make good on his agreement I would be selling with my real estate agent after he told me that these tenants were not reliable. He chose not to purchase but he still had an obligation as per our contract to finish the deal. That meaning paying the mortgage payments while his tenants were still there and giving me my home back in the condition I gave it to him in. Also communicating what was happening while they were there, and after the fact. I literally heard nothing from him at all. None of these things happened and that’s why I am filing this complaint. Mike P[redacted] is a fraudulent and should has no business operating anything. This was my home and it could have ended up very badly if the claims of water damage were legitimate and damaged the structure because he did not disclose that information.  Thank You, [redacted]

In May 2016, The Property Whiz entered into an option agreement to purchase the real estate from the home owner. In an effort to help the home owner repair their credit and get back in good standing with their mortgage company, The Property Whiz offered a down payment to cover the amount that the...

home owner was in default for. In order to make the property work for us, we had to pay down the mortgage amount over a period of time. We agreed that there would be an option period of 6 months, and at the end of those 36 months, the home owner would receive a balloon payment of $115,000, while getting a monthly payment for the 36 months of $973 a month.After reviewing the current market situation, we determined that we could not purchase the property for $115,000. The Property Whiz and the home owner met and renegotiated the balloon payment, to now be $95,000, and a new option period of 36 months. The Property Whiz placed a tenant in the house on a rent to own basis, and their intention was to purchase the house outright after 3 years. After only 2 months, the tenant buyer defaulted and was asked to surrender possession of the property. They did so. We went in and cleaned the house up in order to rent it again.*During this time between tenants, The Property Whiz and the home owner both violated the option to purchase agreement. We did not submit monthly payments to the home owner (put TPW did make up those payments), nor did the home owner pay the mortgage company payments, which was specified in the agreement that they need to stay current with the payments. At this point the agreement should have been voided.The Property Whiz agreed to continue to try to help them. With the mortgage being in default again, the home owner racked up over $8,960.14 in late fees, penalties, payments, which The Property Whiz paid. During our meeting where we renegotiated the balloon payment and term, and despite our recommendation to reduce the monthly payment as well, they did not comply and were notified that it might be tough to get a responsible party in to occupy the house at a rent that was that much above the market rate. Shortly thereafter we found a new tenant buyer that looked to have adequate financial standing to be able to afford the payments, and they agreed to purchase the property outright after 60 months. Their tenancy commenced Nov. 2016.Several months into the new tenants being in place, the home owner approached The Property Whiz several times asking for us to purchase the property "soon" at the purchase price of $115,000** After looking at the recent home sales in the area, we determined that we could not do that, and would wait for a better time when the home sale prices increased a bit.**This price was no longer valid because we had a newer agreement in place for $95,000, but the home owner insisted $115,000 was the price.The new tenants has fallen behind on payments twice during their year in the house. They defaulted on their rent to own agreement, and were now under normal residential lease terms. Throughout their tenancy, the tenant pointed out several major issues with the house. The Property Whiz proceeded to pay for new windows in the house and a new hot water tank. The other major issue was a water problem in the basement which was not disclosed. These issues contributed to the tenant's decision to withhold rent. The Tenant's lease agreement was to expire December 1, 2017, That date arrived, but the tenants did not leave the home. At this point, The Property Whiz notified the home owner that they did not wish to exercise their option to purchase the property[redacted]. The Property Whiz proceeded to start the eviction process at that time as well. We had a court date on December 9, 2017, which The Property Whiz, the home owner, and the tenant did all show up for. The Property Whiz was awarded a judgement for $4,612.95 as a result.The tenants have since vacated the house. They left more of a mess than expected. This was because they had planned on coming back to get the rest of their things and clean the house up, a couple days after "their move out date", but they didn't make this known soon enough, as the home owner had already changed the locks to the house.There has been rumors that the tenants will try to appeal the judgement rewarded to The Property Whiz, but we have not received notification of this yet. Regardless, an appeal will most likely not be successful, since the tenants openly admitted/confirmed to the judge the amount of rent that they owed. It is the intention of The Property Whiz to send the entire judgement amount to the home owners, once received from the tenants. This amount of $4,612.95 and change would be far more than enough to cover any cleaning and/or drywall patching needed as a result from the previous tenants.[redacted]The agreement between parties was an option to purchase agreement in this transaction. The Property Whiz technically had the right to walk away from the property at any time we wished, period. But we stuck around and helped the home owner out financially a great deal. They very well may have gone to foreclosure without our assistance.