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Updated 4 months ago,
Horrible First Multi Investment Experience - Do I Need Legal Counsel?
BACKGROUND
Hello! I’m pursuing my first investment property and I’m a bit unsettled after recent events with my Realtor and their team. Any feedback is welcome to try and salvage the excitement and glory of my first multi-unit.
ISSUE
The Realtor I’ve been working with on my deal since May, has left the team. I was assigned to them through the team’s consultation platform. The team has a Lead Realtor who I contacted given her experience in multi-units in Houston. I was not assigned to the Team Lead, but one of their Associate Realtors. Now the Team Lead is handling the clients of the Associate Realtor.
THE CHAOS
Once my Realtor left, the team lead shared that the initial contract that I completed for the purchase of the home was not completed in full. My Realtor has since voiced that there were bad operations on the team and multiple mishaps with other clients — Realtors putting amendments in front of clients the day of closing and their inability to effectively communicate with clients the amenities of the units. They’ve also made me aware of my listing being terminated (I have proof this did occur) and stated that my contract was terminated as well (I have no proof of this). The same has now occurred with the Team Lead who has shared that my Realtor lacked experience and may’ve had ill intentions of getting greedy with deals that they started to cut the Team Lead out completely.
CURRENT STATE
The Team Lead has asked me to sign a new contract. I’ve lost confidence in knowing that my affairs have not been handled properly and have yet to sign a new contract. I'm hesitant to proceed without legal advice. My first thought was to review my buyer’s rep agreement and I have requested a copy from both parties. My original Realtor shared that she no longer has access and the Team Lead stated she would send me the agreement, but has yet to do so.
NEXT STEPS
How should I proceed? I am a first time homebuyer and refuse to be taken advantaged of or have my affairs mishandled.