All Forum Posts by: Ramel Sherman

I applied a little "heat" and was able to get it back right away via paypal.  Thanks for your feedback everyone, definitely will NOT be doing this again!

Happy Holidays and I wish you all the best in what is going to be an AMAZING 2019!

Thanks so much for the feedback everyone.  It looks like I have some work to do.  I will follow up with everyone to let you know when and how I get my money back.

BE CAREFUL OUT THERE!

Thanks for the reply @Brian D. Beatty.  

The money was sent to his email address via Chase Quickpay. It's a mobile payment service where you can send cash to people online/through the phone for free. So no there are no checks but there is proof of payment via my bank. The conditions of the EMD are mentioned in the contract which is in fact signed. It has the name and info of his company, his broker's name and info, and a clause about an EMD dispute. It mentions the Michigan Association of REALTORS and arbitration, is this the next step?

Greetings Biggerpockets Community, 

I have a situation with an out of state agent and I'm curious if someone who has dealt with this kind of behavior before can lead me in the right direction:

I found (what I thought) was a great Agent/Property Manager/Owner of a Construction company in Detroit while doing a search for a MF.  He came highly recommended by an Inspector I worked with who has great reviews on Yelp.  This agent and I went back and forth for a month or two making numerous offers on MFs in the Detroit area.  Everything was going great, he was responsive on the phone and took the time to visit properties and take pictures.  

The problem happened during our last offer on a SF unit that looked promising. We had the house inspected, everything looked good so the next step was to make an offer. He wrote up the offer and I signed it digitally like we had done many times in the past. This was the first (and last) time that we got far even to put down an EMD. I Chase quick paid him the $1K via online payment Zelle quick transfer. About a week later we decided not to go with the house. That was the beginning of November. I tried asking the bank to pull back the funds and they said no. In the contract it does not say that he can keep my EMD, it says that it is a deposit that will be applied to the house. There is a section about disputes for EMD, is it time to go this route? I've asked over and over for my $1k back but now I don't get a phone call back or any replies.

P.S. The Inspection guy is suddenly MIA as well.  

Thanks in advance for your feedback!

Curious if this one is still available?  If so please message me the details. 

Thanks in Advance,

-Ramel

I'm a little late to this party but if you should come up with anything similar to this property I would love to hear about it.  

What a great looking property.  Is this area considered Belmont?  I would love to see any similar Multi-Family Rentals.

All The Best,

-Ramel

I would definitely get an inspection.  Here in Los Angeles they go for $200 - $400.  Absolutely worth it IMO.

Greetings @Dave Lawrence!

I'm no "pro" as well but I've listened to a lot of buyers in your situation end up in Option #4: Walk away for now and in time they may come back and accept your offer or in some cases accept an even lower offer.  Normally, the longer a property sits on the market the less likely it is to sell at the initial asking price.  So time is on your side.  There are plenty of other fish in the sea for now.  Perhaps you can come back to this deal in a month or two and see if things change in your favor.

You are a thorough Buyer and do very detailed analysis of your projects.  I am confident you will be coming up with something great very soon.

Best Wishes,   

Ramel Sherman

@Account Closed, Please PM me if you have any deals as well!