Seller lied about rent collected

[Carlos Enriquez]

Outlined for brevity.

1. Recently bought a duplex.  My first multi family investment transaction.
2. Realtor used Form 21 Residential Real Estate Purchase and Sale Agreement.
3. No clauses for requesting the pertinent financials (leases, rents, expenses...).
4. I asked about using Form 20 Multi-family Real Estate Purchase and Sale Agreement.
5. It has section 17 y clause stating all records to be produced within 10 days.
6. Realtor annoyed and said I was questioning his professionalism and form is correct.
7. I went ahead under duress (never again!).
8. First month rent due as new owner...now one tenant can't pay.  The other is paying $1750.
9. He said that he's been paying $1750 while the lease says he's paying $2100, so he can't afford it and wants out of lease.  He won't pay August rent.
10. No security deposit, no other monies required from him in previous lease.
11. Found out he is a close personal friend of seller.  Lease showed higher rent possibly so that I could visualize a positive cash flow.  With the below market rent, it is not.
12. Realtor incompetent, seller fraudulent, tenant loser, new owner screwed!

My PM, who's been fantastic, has started the eviction procedure.  We are trying to get the tenant out so we can mitigate this and get market rent in September.

But that realtor and that seller!!!  What can be done, if anything, about those guys?

[Jay Hinrichs]

@Brett Alphin  get real sue happy folks.. @Carlos Enriquez complain to broker .. 0ther wise suck it up and move on.. cost of attorney for these minor nusiances deals will cost you more than you can gain

I just have to laugh at all these folks that think getting an attorney is going to solve your problem when in fact it will put you deeper in the hole

you get an attorney when there is real money involved and the seller has MONEY or insurances otherwise you will get another education in what not to do