Skip to main content

Fraud Collection Letter from home sale that didn't close?

My husband and I received a collection letter stating we owe $26,000+ to the seller of a home purchase agreement that never closed. It's an extremely long story so I won't go in to all the details but we went under contract for a house in Suffolk Va and as things were moving forward we found alot of misrepresentation and what we believe was fraud in reference to the realtor, mortgage broker, and seller so we didn't go through with the sale. We got a letter from the seller's attorney threatening a lawsuit if we decided not to close but after that complete silence..we never got a termination agreement for the contract and the realtor called and said point blank if we weren't going to close then he no longer worked for us and hung up on me and I never heard from him again either..the whole situation snowballed into another bad situation with our then current rental and we focused on that and finding another place as well as gathering information and trying to find a lawyer so we could later sue or in the least report to the correct agencies what all had happened and like I said we were never contacted again by any of the others regarding the transaction..that was in May and now a few weeks ago we both got a collection letter from a company saying they are attempting to collect a debt of $26,000 for the seller and if we don't dispute it within 30 days it'll be considered valid and action will be taken to collect! I checked online for the house and it was sold in August and we weren't ever sued so I don't understand how this could be a legit letter or debt..also when I looked into the collection company I found that its owned by the seller's attorney. I'm going to send a dispute letter tomorrow but I've been researching to the best of my ability and I just don't understand how anything in this whole situation is legit and just hoping to get any insight at all!

submitted by /u/heather4235
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/ehv536/fraud_collection_letter_from_home_sale_that_didnt/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...