All Forum Posts by: Kumar Tummalapalli

Thank you So much @Olivier Mader .... you wrote the whole process !!! rather than asking me to go google , Just wanted to hear it from some one who has done it , solid advice , especially about the cutting slow an din reversed direction

@Trevor Ewen  What you said is 200 percent correct . especially  "You'll want to get some actionable data out of your first few days / weeks of research"

This is what I learnt after wasting lot of time , why didnt you come and post this last year ,ha ha , Just kidding , But yes that is solid advice and there s the temptation to over improve stuff and loose the big picture is a big deal

 I think on principle , we agree mostly . In retrospect , yes , I think we do make some assumptions , though not ideal , but making assumptions which favor a specific side is not cool I guess. Even if thats the case , they have to be explicitly called out . Also i dont ever come to conclusion in these scenarios , that might be a difference in approach . 

 I dont know how I can be right or wrong . I am merely stating that we shoudlnt conclude without knowing full details .

Quoting you "There is nothing to report here. The agent was ready to do the deal with you. He only called his father after you pulled out of the deal." 

Looks like you concluded and made a ton of assumptions in the agents favor . You said you were willing to be wrong , but the above statement conflicts that.

contrast your statement with one of the statements in my first reply :

"First point - If you think from a common sense / ethics point of view , it is clearly shady . Of course the full details will make a difference. Some circumstances will make this fall in the grey area , and some will make it outright illegal. But you would only know that it is outright illegal - if you know the interaction between agent and the owner ."

So  I think , saying I am unbiased wont make you unbiased , your statements should reflect that . 

My second statement from the first response I posted

"So there is no way for anybody to conclusively say whether it is illegal ., But whats wrong in reporting this to the board , you are not saying he acted unethically , you are just providing them your interpretation and why you found it fishy"

I think you get the idea , I can repost all my responses here . but it wouldnt help much . 

I also wonder why , you did not apply this standard to the agents who concluded right from the get go. This was the summary from one of the other agents :

" A seller who has a relationship with a service provider received an unsolicited offer on a property. That buyer was upset by how that seller chooses to spend their own money and pulls out if the deal. Seller then lists property, sells it for more money."

Why do you think he left out the fact that , the new buyer was the listing agents father ? Why did he not mention the fact that the transaction was done in a day ? And plenty of others who acted as though there is nothing shady - you have two bidders , one of the bidder is your father ? If you have a property to sell , your agent sells it in one day , and the highest and best bidder is your agents father- lol .  what was the urgency in selling it in one day , because from what we know - it was not even listed initially . so if it was not urgent , why would the agent not want to list it for more time . I want to reiterate that none of this might be illegal or unethical , but the fact that some of the agents here dont even want to ask these qns and ridicule the poster by saying "whats illegal and unethical "

Regarding your last statement abt advice , this is an online forum , just like how you dont care if some one takes your advice or not , the OP and others also dont care abt what you have to say if they think it is biased or missing logic . Infact it hurts the OP, if some one who has a genuine advice visits this topic , and they see that the thread is littered with ridicule and personal attacks about character , they would choose not to get involved . 

Hi there - sound advice from Perry . He pretty much gave everything you need to know about the loan .

Even though that's not your primary qn , let me restate , your biggest challenge will be construction , Though it might not be clear now , you will get funding , you have 90K worth equity in the property .

To expand on the construction being a challenge , you will slowly start to see that the bids vary widely . And if you have not done a renovation of this scale , or don't have somebody  to guide you , that 300k will easily jump to 400k . And multiply the time estimate by 2 and not to mention the grief.

Search in forums about finding a contractor and get an idea. Even partnering with an experienced rehabber won't be an easy task. You have to make sure that you are protected by contracts , even if they come through referral . 

Please spend time on this , even if it means the house is vacant for some time , it is peanuts compared to the problems you will face , if you get in to this unprepared . Sorry to sound terribly negative . But a lot of preparation is needed . 

I agree with you mostly , especially that different realtor boards will treat this differently along with his past history , which is what I stated when one of the members mentioned that he is member of board and he will throw away this case. Opinions are fine . But assumptions are not .

Realtor code of ethics is a written standard , yes , I agree , but I don't agree with your later statement that so realtors are a "credible"source . So I am quoting what you said - "life is not black and white" so we should not assume that , just because something was supposed to be covered and known by realtors , automatically does not that they know it correctly . I have met agents who don't know how to give me a list of sold properties from MLS . This is not a dig against all realtors . Like every field , there are good and bad performers . You can clearly see how some realtors gave a fair and balanced answer in this thread . At the same time there are realtors who declared " nothing is illegal , you are a whiner" .

Also it would have been nice if you didn't come to conclusions about his character. This is an online forum and we don't even know about 0.00001% of his real side. It would be equivalent to me characterizing you as a hypocrite . Because you said "nothing is black and white" but said that " realtors are supposed to know ,so they will know the rules " .Only one of this can be true . By the way I am not concluding anything about you , because I don't know enough about you.

I am also definitely not encouraging the OP to litigate and enter in to disputes , but merely stating that , we need more information to come to a conclusion . 

Unfortunately , your interpretation is not accurate . I would suggest to ask for clarification , rather than assume . First things first , I havent read every comment here and so I dont know if everyone supported a specific side. 

Out of the responses I read , Jay and patricia did not conclude anything , they asked for more information or made general suggestions that might provide more insight .So out of respect for other members who might review this thread 5 yrs , 10 yrs down the line , check before you state something .

Coming to your response : from the posts I see , you try to take a side which is against the investor and the bias is pretty obvious . Again I am not saying everyone here is biased . But my opinion is immaterial here as its subjective and doesnt help the OP. But just saying as you asked to explain . 

I am not saying he is intentionally holding back , but it is not realistic for the OP to know , what factors in this case will decide if something unethical or illegal has happened . It has to be an expert  in this matter , someone who looks at these cases on a regular basis. Of course for privacy reasons he might have withheld some information or something that he thinks is trivial , might completely tilt the situation in favor of one side . Yes I am not ruling out the fact that , the information we dont know , might completely support the first agent and prove that - everything is fair . 

It is reckless for you to assume that the missing details are in favor of the first agent . lol, You have tried very hard to word it in a way that makes you feel good and helps to support your opinion . Your summary is just one sided. why did you leave out from the summary that - the buyer is related to agent . 

The question is not what would happen , if you were the ethics board member hearing this case . It might help provide some context , but the fact that you feel this way about this case doesn't mean much ,, unless you have some weird powers to control the thoughts of the board that will actually hear the case.

Anyway let me give you one example , what if there have been similar complaints about this agent earlier , it would make a difference if its the first time or 20th time. 

And - its totally fine to say that you dont have enough information , but its not fine to conclude that nothing was illegal/unethical . 

The full facts of the situation can only be obtained by thorough review , I have nothing against the first agent , or second agent , I am just saying that the OP is feeling something unethical/illegal has happened , he should report and let the authorities make a determination .

Bias is unavoidable , but atleast it should be controlled 

You cannot confirm that there is nothing unethical , we just dont know the full details . And its pretty funny that you qualified it with " multiple realtors told that " . I hope you understood the irony of your statement .

This seems to be a reckless conclusion . The whole thing looks absolutely shady , an expert is needed to decide whether its illegal or not. Your statement that "it doesn't reveal anything unethical" is myopic in many ways.  It also doesn't reveal that everything is ethical . why dont you say " It doesn't reveal anything unethical and it also doesn't prove everything is ethical " 

Also no prospective home purchaser will know everything that will make an agents behavior unethical , Infact most agents wouldn't even know . So there is no way he can provide all the details here .