A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
When it comes to money, trust is a mistake
I have way too much trust in people and it usually costs me.
I was recently in a Real Estate Transaction where I represented both the buyer
and the seller. The buyers seemed to be very nice people and I did what I could
to help them close, including giving up some commission to get the owners to
accept the offer and I also paid $750.00 out of my commission to help with some
repairs that the owners were not happy with. The trouble came at the end when I
received an urgent call from the lender asking for my help.
There were some roof repairs that included termite damage
that the buyers wanted done a certain way and they were willing to pay $2750.00
of the total cost of $6250.00. I was also paying $750.00 out of my commission.
The lender was panicked because the $2750.00 that the buyers were supposed to
bring into Escrow was creating problems with the loan and he was hoping I could
help. I called Escrow and at the lateness of the Escrow re-doing the
instructions and getting the sellers to understand what was going on was going
to delay at best the close. So I suggested to Escrow to take the $2750.00 out
of my commission and I would have the Buyers at the close cut me the check for the
$2750.00 instead of bringing it to Escrow. BIG MISTAKE!
After The close of Escrow, I bought a new garage door opener
and went to the house to congratulate the buyers. I gave them the garage door
opener and asked for my check for the $2750.00. They not only did not give it
to me, they were going to deduct some for repairs that they want done. I could
not believe that they were doing this to me after all I did to help them. I
asked for my Garage door opener back and he said he would include the $200.00
for the opener in what he would send me back. I have yet to receive anything
and I have a bad feeling that I may not.
In my business of Property Management in Anaheim Ca. I will
never do this stupid move again, but this will be a costly lesson and I don’t
really know if I have any recourse. I feel so stupid and like I told the buyer,
I feel as though they kicked me in the gut.
I know that the actions I took were not good for my
business, but I did it because I thought I was doing well for my client. I was
wrong and it may cost me a god chunk of money.
A.D. Cantelmo Property
Management Specializes in Property Management in Orange County
Ca.