Rob,
First, I’d call and write the board that oversees the Real Estate Agents and brokers. Make a complaint against the RE agent.
Next, even though it may cost you some cash upfront, talk to your attorney.
Have him send a certified letter to the seller and agent requesting immediate relief, and if that is not forthcoming you will seek any and all legal remedy.
Tell your lawyer to put in the suit that the seller is to pay for your legal fees.
You may not see it right away, but a lien can be out on his properties once you get a judgement.
But, then again, I’m not a lawyer, so that is why you need to talk to one. See what they say about all this.
Posted by Rob Day on January 17, 2000 at 11:18:43:
Hi folks,
I just wanted to get some opinions on my situation. A couple of months ago I purchased a 4 plex from honestly a slum-lord, but I got the place before he had a chance to ruin it. Anyway we haggled back and forth for 2 months on pricing. As we went to the closing table he owed me $300 for rents that he collected for that month. he told me he would bring them to the closing. He also told me he had several other properties that he wanted to get rid of right down the street. Anyway he arrives at closing without the money, but says why don’t you come up saturday and we’ll talk about the other property (we closed on on a Wednesday)and I’ll give you hte money then. Well I go up saturday to check on my new place and meet the tenants, and planned to meet him after my visit. Well he blows me off and doesn’t return my phone calls. 3 weeks later I get a call form my property manager that the water has been shutoff because of an outstanding balance on the bill. I expalined that I just bought the property yadaaa, yadaa, and they (the town) give me a little reprieve. I call the title company to explain their error, and they tell me to speak to the owner. I then call the realtor, in fact I called her a total of 7 times and she still has not returned my phone call. I had to pay the water bill balance because it was going on a couple of months,and between the realtor and the owner my outstanding balance due is nearly $1000. In addition, my property manager tells me the keys that the owner gave us are no good, so i had to go change all the locks. I am trying to get hold of my lawyer, but he charges for saying hi. I live in NH, any thoughts as to how I may handle this. I want to put a lien on both property that the owner owns and the realtor owns. they both have lousy reputations in the town, but I did not know that going in. Any help would be appreciated.
Posted by JohnB_NJ on January 17, 2000 at 19:36:42:
Hello Rob,
Did you get a title search done and title insurance. The title company/agent should have look for outstanding municiple liens (ie: water/sewer amounts owed). In my area anyway if you don’t pay your water/sewer bill, it becomes a lien on the property.
If the water/sewer is treated like any other utility (ie: electric, gas, cable…) then you should not be responsible. The previous owner’s account will go into collections and his credit will be at risk.
If the title company missed this outstanding balance…then you have insurance. Yes, it is a pain in the butt to file a claim but I would do it to recover your cash.
Again, I don’t know what state you are from or the procedures there. Good luck.