vacation international
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Original Message:
Re: vacation international (by R P.):
joep293 wrote:One thing I see no one has mentioned. I got a copy of their contract and after reading it realized their scam (or at least one of their scams). They say the money is in an escrow account and that is probably true. But in the contract it says that you as the owner gets paid after closing escrow and the agent gets their 8% commission and you the owner get the rest. Sounds great, however the contract goes on to further say "that the owner agrees to pay 8% commission to the agent at the time of closing for the service of selling the property, IRRESPECTIVE OF WHETHER SAID SALE IS EFFECTED BY THE AGENT, ANY COOPERATIVE AGENT, ANY THIRD PARTY, OR THE OWNER." The way I read this is if the deal does not close you still owe them 8% for their services. So, my guess is there is no buyer (of course) and at some point the agent will say the buyer backed out or any other excuse and we cannot close escrow. You are on the hook to pay them the 8% while they try to find another buyer...which of course they never will. Pretty clever I think, because there is no money upfront from you the owner. I may try to re-write the contract to assure that there is no money out of my packet until, and only until, the deal closes escrow. I am sure they will go away if I re-write it. So, what can be done to go after these people for messing with so many of us and possibly scamming a few of the unlucky ones? Is there any recourse? I don’t know how these people sleep at night, really!!!
There is no buyer.