Initial Business Response / [redacted] (1000, 16, 2014/10/09) */ after further review, this property wasnt sold by my company [redacted] was representing the buyers not the sellers of the propertyalso see that [redacted] did not work for california realty partners at the time of the sale back in april please also take notice that the property was sold by fannie mae and the agent who sold the property had no control over who recieved the property I personally believe this compliant is completely bogusmy company had nothing to do with the sale of this propertysee attached sheet from MLS showing who bought and sold this property Initial Consumer Rebuttal / [redacted] (3000, 18, 2014/10/13) */ (The consumer indicated he/she DID NOT accept the response from the business.) I believe the deceit is continuingThis property was sold as a REO one year ago and now is up for resale without anybody living in it since it was sold rather quickly as an REOThe rep from California relators stated that her employee, Ms [redacted] was representing the buyer and working for a different company at the time of the REO saleHowever, she is now working as the seller/rep with this California realtors on this same piece of propertyAll the more, she should understand that the buyer should have been living in the property and not flipping it, as that would be knowingly acting illegally according to REO rules Also, during a walkthrough of one of the open houses for this property, Ms [redacted] was heard saying to another agent that she was in on the dealShe should have never mentioned that where others could overhear herShe was excited about the "second home they were going to add to the back of the property" These type of sales are not for agents to grab up or take part inIn fact, they should stay clear of these unless the home is having trouble selling quicklyThese homes are first listed for citizens wanting to find a home they could afford to live inI believe this was a deal too good to be true and she teamed up with a pseudo-client to be in on a deal that she should have recused herself from, once she realized that the buyer had no intention of using it as their primary residenceAgain, as a veteran, I am disgusted to see this taking placing and I am more dismayed to hear that the company did not due their due diligence on this and dig deep to see if this type of activity could have even remotely taken place Please take another look at this caseAlso, look into how the permit was obtained from the city to build a second property on same residential piece of propertyThis planning did not happen overnight, it had to be preplanned for a whilePlease do not let this injustice to a veteran get swept under the rugThis property was not in investment status as it had no problem attracting interested buyer right away Here is the definition that I was given from the agent on the phone when we called to inquire on this property a year ago "If you are trying to buy this property, you must LIVE in itFannie and Freddie, and other do not want investors to buy their properties until after a specified time frame as they want people who plan to live in the properties to have first choiceOwner occupied means it's your primary residenceIt means you don't call any other place "home"After the agent gave us this spiel, they proceeded to tell us that there was already an offer on the home Read more: http://www.city-data.com/forum/foreclosures-short-sales-reos/XXXXXXX-what-does-o...⇄ Thank you for your time Final Business Response / [redacted] (4000, 21, 2014/10/17) */ We have looked into the situationand there are a few things that you are wrong about california realty partners had nothing to do with the previous transaction there are no set REO ruleseach bank is different fannie mae chooses the highest bidder and the listing and selling agent have no control over who fannie mae choosesits a blind auction type of bidding the buyers bought this house for 702,all cash escrow closed in ten daysthere were also other offers on the property the only rule fannie mae has on there REO properties is you need to hold the property for over daysit does not specify whether it needs to be owner occupied california realty partners has nothing to do with these complaintssee attached documents im sorry [redacted] missed out on this property, but unless they were willing to pay over 700k all cash no contingencies and close in days they would never get the property if [redacted] would like to discuss more please have her call me at XXX-XXX-XXXX Damon Final Consumer Response / [redacted] (4200, 23, 2014/10/26) */ (The consumer indicated he/she DID NOT accept the response from the business.) I do not accept this "strong armed" responseThe original agent who sold this property told my husband and I that the sale, during the initial listing period (days or so)would go to the highest bidder with intentions of occupying the homeNot sure why they would have told us that, if they did not believe it and it was not true I believe that realtor greed often kicks in and doing the "right thing" is often trumped by making a buckSince this agent stated that she was "in on the deal", the real question is who fraudulently signed the Owner-Occupant certification (see below) upon this home's purchase, and who knew about it as "part of the deal" Sadly, something underhanded took place here and nobody wants to admit it This process does not appear to be going anywhere and will not until admission of knowledge takes placeIf not resolved after this last attempt, I would like to forward this complaint to the State Attorney General's office as well as the Office of Veteran's affairs or send me the contact information and I will forward It was expected that detailed due diligence would have taken place by the agent representing the buyers and sellers as they know the rules and they know the questions that should be asked Straight from Fannie MAE: Fannie Mae's innovative First Look marketing period was created to promote homeownership and contribute to neighborhood stabilization allowing homebuyers to negotiate and purchase foreclosed properties before they are made available to investors Details include: First Look is typically the first days a property is listed on HomePath.com (Nevada is days) Properties in the First Look period have a countdown clock on the property information page of HomePath.com displaying the days remaining to purchase Eligible buyers during First Look are owner occupants *Owner occupants are those buyers that will occupy the property as their principal residence within days of closing and will maintain their occupancy for at least yearOwner-occupant purchasers are required to sign an Owner Occupant Certification as a rider to the Real Estate Purchase AddendumA buyer purchasing in the name of a trust, purchasing as a vacation/part-time residence, or purchasing so another person or relative can live in the property will typically be considered an investor and not eligible during First Look Investor offers submitted after the First Look period expires will be considered along with all other offers
Initial Business Response / [redacted] (1000, 16, 2014/10/09) */ after further review, this property wasnt sold by my company [redacted] was representing the buyers not the sellers of the propertyalso see that [redacted] did not work for california realty partners at the time of the sale back in april please also take notice that the property was sold by fannie mae and the agent who sold the property had no control over who recieved the property I personally believe this compliant is completely bogusmy company had nothing to do with the sale of this propertysee attached sheet from MLS showing who bought and sold this property Initial Consumer Rebuttal / [redacted] (3000, 18, 2014/10/13) */ (The consumer indicated he/she DID NOT accept the response from the business.) I believe the deceit is continuingThis property was sold as a REO one year ago and now is up for resale without anybody living in it since it was sold rather quickly as an REOThe rep from California relators stated that her employee, Ms [redacted] was representing the buyer and working for a different company at the time of the REO saleHowever, she is now working as the seller/rep with this California realtors on this same piece of propertyAll the more, she should understand that the buyer should have been living in the property and not flipping it, as that would be knowingly acting illegally according to REO rules Also, during a walkthrough of one of the open houses for this property, Ms [redacted] was heard saying to another agent that she was in on the dealShe should have never mentioned that where others could overhear herShe was excited about the "second home they were going to add to the back of the property" These type of sales are not for agents to grab up or take part inIn fact, they should stay clear of these unless the home is having trouble selling quicklyThese homes are first listed for citizens wanting to find a home they could afford to live inI believe this was a deal too good to be true and she teamed up with a pseudo-client to be in on a deal that she should have recused herself from, once she realized that the buyer had no intention of using it as their primary residenceAgain, as a veteran, I am disgusted to see this taking placing and I am more dismayed to hear that the company did not due their due diligence on this and dig deep to see if this type of activity could have even remotely taken place Please take another look at this caseAlso, look into how the permit was obtained from the city to build a second property on same residential piece of propertyThis planning did not happen overnight, it had to be preplanned for a whilePlease do not let this injustice to a veteran get swept under the rugThis property was not in investment status as it had no problem attracting interested buyer right away Here is the definition that I was given from the agent on the phone when we called to inquire on this property a year ago "If you are trying to buy this property, you must LIVE in itFannie and Freddie, and other do not want investors to buy their properties until after a specified time frame as they want people who plan to live in the properties to have first choiceOwner occupied means it's your primary residenceIt means you don't call any other place "home"After the agent gave us this spiel, they proceeded to tell us that there was already an offer on the home Read more: http://www.city-data.com/forum/foreclosures-short-sales-reos/XXXXXXX-what-does-o...⇄ Thank you for your time Final Business Response / [redacted] (4000, 21, 2014/10/17) */ We have looked into the situationand there are a few things that you are wrong about california realty partners had nothing to do with the previous transaction there are no set REO ruleseach bank is different fannie mae chooses the highest bidder and the listing and selling agent have no control over who fannie mae choosesits a blind auction type of bidding the buyers bought this house for 702,all cash escrow closed in ten daysthere were also other offers on the property the only rule fannie mae has on there REO properties is you need to hold the property for over daysit does not specify whether it needs to be owner occupied california realty partners has nothing to do with these complaintssee attached documents im sorry [redacted] missed out on this property, but unless they were willing to pay over 700k all cash no contingencies and close in days they would never get the property if [redacted] would like to discuss more please have her call me at XXX-XXX-XXXX Damon Final Consumer Response / [redacted] (4200, 23, 2014/10/26) */ (The consumer indicated he/she DID NOT accept the response from the business.) I do not accept this "strong armed" responseThe original agent who sold this property told my husband and I that the sale, during the initial listing period (days or so)would go to the highest bidder with intentions of occupying the homeNot sure why they would have told us that, if they did not believe it and it was not true I believe that realtor greed often kicks in and doing the "right thing" is often trumped by making a buckSince this agent stated that she was "in on the deal", the real question is who fraudulently signed the Owner-Occupant certification (see below) upon this home's purchase, and who knew about it as "part of the deal" Sadly, something underhanded took place here and nobody wants to admit it This process does not appear to be going anywhere and will not until admission of knowledge takes placeIf not resolved after this last attempt, I would like to forward this complaint to the State Attorney General's office as well as the Office of Veteran's affairs or send me the contact information and I will forward It was expected that detailed due diligence would have taken place by the agent representing the buyers and sellers as they know the rules and they know the questions that should be asked Straight from Fannie MAE: Fannie Mae's innovative First Look marketing period was created to promote homeownership and contribute to neighborhood stabilization allowing homebuyers to negotiate and purchase foreclosed properties before they are made available to investors Details include: First Look is typically the first days a property is listed on HomePath.com (Nevada is days) Properties in the First Look period have a countdown clock on the property information page of HomePath.com displaying the days remaining to purchase Eligible buyers during First Look are owner occupants *Owner occupants are those buyers that will occupy the property as their principal residence within days of closing and will maintain their occupancy for at least yearOwner-occupant purchasers are required to sign an Owner Occupant Certification as a rider to the Real Estate Purchase AddendumA buyer purchasing in the name of a trust, purchasing as a vacation/part-time residence, or purchasing so another person or relative can live in the property will typically be considered an investor and not eligible during First Look Investor offers submitted after the First Look period expires will be considered along with all other offers