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Buying from Holton Wise- poor communication

121 Replies | Cleveland, Ohio

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Brad Fausett
from Cleveland, Ohio

posted 25 days ago

I made a offer on a property HW has listed via my agent yesterday.  All cash, 7k under 135k ask after determining the flat roof was in need  of repairs.   My agent followed up later in the day after submitting the offer earlier in the day via their submission link with their receptionist and said she was quite abrasive and rude.  She seemed bothered by the phone call. 

I feel I made a reasonable offer and requested a 8pm response.  No response came yesterday however this morning we received one simply stating no showings are available for occupied units offer declined.

I agree this time, it seems abrasive and short.   No direction, almost like they could care less about representing their seller (another BP member).    Why are you declining the offer, what can we do to make a deal?   We have toured the available unit, we are requesting to see the other units after an accepted offer.   We offered all cash, accepted no repairs will be made.   How do you work with a company who isn’t working with you?   More importantly, who would want this level of service from their selling agency? I expect more from an agent hired to sell my property.  

I guess when you spread yourself out thin and try to be a one stop shop for investors customer service has to go to the wayside.  I would not want this level of effort representing one of my properties.  Good luck to the party hoping to sell their property with this level of effort and communication.   

I made a reasonable offer, followed all protocols and rules set forth and what we were given in return was not much to work with. 



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Matt Devincenzo
Investor from Clairemont, California

replied 26 days ago

Personally I'm ok with that response...I don't find it abrasive nor rude, just direct and short. If that was to a retail client, maybe not the best way to respond, but to an investor buyer type I'd say it's fine. It's the same response I get from my own developer client who is busy with his project. He responds short and simple, I then distill that into a thoughtful response back to the City or other consultant I'm wrestling through the issue with. IMO your agent should have taken that and distilled a thoughtful response for you if that's what you want/need. Your agent should be the one to say, 'would you be ok taking possession without inspecting the other units'? If so let's make an updated offer. 

If they already have interest then there may not be any motivation on their part to counter, and so they just decline the offer...again IMO nothing wrong with that. Get to the point so no one is having their time wasted...

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Brad Fausett
from Cleveland, Ohio

replied 25 days ago

@Matt Devincenzo

Well after months on the market with no offers and making a $30k price adjustment days ago I wouldn’t guess people are jumping at the opportunity.

Again, if they are selling without letting you see occupied units, state that. If you are not seeking offers less then ask, state that.

You have a cash buyer ready to move on a property you are representing for a client who is paying you to do so, I must disagree. This is poor service on their behalf for the client they are representing.

I don’t have time or interest in playing the back and forth all day with emails game. We are interested here is our offer, (agency) we can not accept this offer but we would accept xxx. Boom, everyone knows what it takes now.

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Christopher Blanco
Real Estate Consultant from Cleveland, OH

replied 26 days ago

I will preface this by saying I have never done a deal with HW, but from what I keep hearing I would never do business with them. They seem like they only care about being HW and nothing else. I know they are very successful, but I am not sure I want success doing business how they seem to do it. It will catch up to you eventually. 

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Russell Brazil (Moderator) -
Real Estate Agent from Washington, D.C.

replied 26 days ago

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

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Brad Fausett
from Cleveland, Ohio

replied 25 days ago
Originally posted by @Russell Brazil :

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

Well, in our market its how we get things done.  Sometimes it works, sometimes it doesn't.  House has sat on market for a long time in this market and just took a $30,000 price reduction.  Anyhow, That does not have anything to do with the poor communication in their attempt to sell a property for a client.  The title of the thread is - Poor Communication.    Never mind the buyer with cash looking to purchase.... Amateur move, okay Russell..

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Russell Brazil (Moderator) -
Real Estate Agent from Washington, D.C.

replied 26 days ago
Originally posted by @Brad Fausett :
Originally posted by @Russell Brazil:

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

Well, in our market its how we get things done.  Sometimes it works, sometimes it doesn't.  House has sat on market for a long time in this market and just took a $30,000 price reduction.  Anyhow, That does not have anything to do with the poor communication in their attempt to sell a property for a client.  The title of the thread is - Poor Communication.    Never mind the buyer with cash looking to purchase.... Amateur move, okay Russell..

 That might be how you get deals done with agents who have 1 listing desperate for a commission check.  Thats not how you get deals done with agents and brokers with dozens of listings. Quickly expiring offers are an amateur move, and will typically expire before anyone has even looked at them.

And nothing in their communication seems poor. It seems quite professional.  Everyone bitches when their offers get rejected.  Make an offer the seller will accept if you want the property. The seller owes you no explanation as to why they rejected your offer.  But when people drop the price $30k, they are not typically going to accept and under list offer on that property unless its been sitting at that price. Youve stated they just dropped the price, thats obviously the price they are willing to take at this point in time.  

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Russell Brazil (Moderator) -
Real Estate Agent from Washington, D.C.

replied 26 days ago

In fact, lets tag @James Wise to hear what he has to say

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Michael Plante
from Deland, FL

replied 26 days ago

I’m perfectly fine with the response 

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Brad Fausett
from Cleveland, Ohio

replied 25 days ago

Again, point being is I would not want the agent representing something I had sitting on the market merely responding offer rejected to an interested buyer.   A counter offer to someone who is interested in purchasing a property that has just taken a price reduction is more befitting.    If you disagree, so be it, you and I would not be working together.     I have moved on looking for other purchase opportunities since a counter or explanation as to their objectives was not even given.  

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James Wise
Real Estate Broker from Cleveland, OH

replied 26 days ago
Originally posted by @Russell Brazil :
Originally posted by @Brad Fausett:
Originally posted by @Russell Brazil:

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

Well, in our market its how we get things done.  Sometimes it works, sometimes it doesn't.  House has sat on market for a long time in this market and just took a $30,000 price reduction.  Anyhow, That does not have anything to do with the poor communication in their attempt to sell a property for a client.  The title of the thread is - Poor Communication.    Never mind the buyer with cash looking to purchase.... Amateur move, okay Russell..

 That might be how you get deals done with agents who have 1 listing desperate for a commission check.  Thats not how you get deals done with agents and brokers with dozens of listings. Quickly expiring offers are an amateur move, and will typically expire before anyone has even looked at them.

And nothing in their communication seems poor. It seems quite professional.  Everyone bitches when their offers get rejected.  Make an offer the seller will accept if you want the property. The seller owes you no explanation as to why they rejected your offer.  But when people drop the price $30k, they are not typically going to accept and under list offer on that property unless its been sitting at that price. Youve stated they just dropped the price, thats obviously the price they are willing to take at this point in time.  



 Wow.....Brad Brad Brad, not any idea in the world what you're doing and you're coming on here making me have to publicly air out your dirty laundry. 

As you wish.

1. The property has received many offers. Some decent, some like yours total nonsense. It's been in and out of contract multiple times as well. Most recently a buyer who's financing fell apart. Stating it's been on the market many months without any offers is not based in any fact. You have literally pulled that sentence out of thin air. 

2. This property has had a 3rd party inspection, appraisal and a video tour. Your agent was provided with a video tour as well the previous buyer's home inspection. It was explained to her that ONLY cash offers with no contingencies were being accepted as everything has been provided. This rental property has two tenants in it. We can not and will not let every random tire kicker like you disrupt their lives during a pandemic.

3. Not only did your agent not submit another offer to us with the above mentioned contingencies removed, this cash offer you claim you have submitted to us was not a cash offer. It was actually a financed offer.

4. Below is the pre approval letter submitted to us by your agent. It's not even a pre approval letter for you lol. It's a letter from Dollar Bank stating that another man Daniel S. ****** has the money in his account, not you. Note this man Daniel S. ***** is not listed on the offer your agent submitted to us.

5. The sellers have agreed to terms with a actual cash buyer on an actual AS-IS offer.

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James Wise
Real Estate Broker from Cleveland, OH

replied 26 days ago
Originally posted by @Matt Devincenzo :

Personally I'm ok with that response...I don't find it abrasive nor rude, just direct and short. If that was to a retail client, maybe not the best way to respond, but to an investor buyer type I'd say it's fine. It's the same response I get from my own developer client who is busy with his project. He responds short and simple, I then distill that into a thoughtful response back to the City or other consultant I'm wrestling through the issue with. IMO your agent should have taken that and distilled a thoughtful response for you if that's what you want/need. Your agent should be the one to say, 'would you be ok taking possession without inspecting the other units'? If so let's make an updated offer. 

If they already have interest then there may not be any motivation on their part to counter, and so they just decline the offer...again IMO nothing wrong with that. Get to the point so no one is having their time wasted...

 Matt take a look at the comment above if you're interested in a more accurate description as to my communication with Brad and his "Cash" offer lol.

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James Wise
Real Estate Broker from Cleveland, OH

replied 26 days ago
Originally posted by @Michael Plante :

I’m perfectly fine with the response 

 Michael take a look at the comment above if you're interested in a more accurate description as to my communication with Brad and his "Cash" offer lol.

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James Wise
Real Estate Broker from Cleveland, OH

replied 26 days ago
Originally posted by @James Wise:
Originally posted by @Russell Brazil:
Originally posted by @Brad Fausett:
Originally posted by @Russell Brazil:

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

Well, in our market its how we get things done.  Sometimes it works, sometimes it doesn't.  House has sat on market for a long time in this market and just took a $30,000 price reduction.  Anyhow, That does not have anything to do with the poor communication in their attempt to sell a property for a client.  The title of the thread is - Poor Communication.    Never mind the buyer with cash looking to purchase.... Amateur move, okay Russell..

 That might be how you get deals done with agents who have 1 listing desperate for a commission check.  Thats not how you get deals done with agents and brokers with dozens of listings. Quickly expiring offers are an amateur move, and will typically expire before anyone has even looked at them.

And nothing in their communication seems poor. It seems quite professional.  Everyone bitches when their offers get rejected.  Make an offer the seller will accept if you want the property. The seller owes you no explanation as to why they rejected your offer.  But when people drop the price $30k, they are not typically going to accept and under list offer on that property unless its been sitting at that price. Youve stated they just dropped the price, thats obviously the price they are willing to take at this point in time.  



 Wow.....Brad Brad Brad, not any idea in the world what you're doing and you're coming on here making me have to publicly air out your dirty laundry. 

As you wish.

1. The property has received many offers. Some decent, some like yours total nonsense. It's been in and out of contract multiple times as well. Most recently a buyer who's financing fell apart. Stating it's been on the market many months without any offers is not based in any fact. You have literally pulled that sentence out of thin air. 

2. This property has had a 3rd party inspection, appraisal and a video tour. Your agent was provided with a video tour as well the previous buyer's home inspection. It was explained to her that ONLY cash offers with no contingencies were being accepted as everything has been provided. This rental property has two tenants in it. We can not and will not let every random tire kicker like you disrupt their lives during a pandemic.

3. Not only did your agent not submit another offer to us with the above mentioned contingencies removed, this cash offer you claim you have submitted to us was not a cash offer. It was actually a financed offer.

4. Below is the pre approval letter submitted to us by your agent. It's not even a pre approval letter for you lol. It's a letter from Dollar Bank stating that another man Daniel S. ****** has the money in his account, not you. Note this man Daniel S. ***** is not listed on the offer your agent submitted to us.

5. The sellers have agreed to terms with a actual cash buyer on an actual AS-IS offer.

Here is one of the attachments from my previous post in a more legible format.

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Luke G.
Rental Property Investor from Hammond, WI

replied 25 days ago

I'm guessing that didn't go how you thought it was going to go...

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James Wise
Real Estate Broker from Cleveland, OH

replied 25 days ago
Originally posted by @Luke G. :

I'm guessing that didn't go how you thought it was going to go...

lol.

 At one point we were all new in this business and didn't know which wat was up. It's fine not to know any better. I got no issues with that, I spend a lot of my time creating content to educate investors in that very situation.

BUT

When you've got no idea which way is up and then you come online trying to muddy my good name and the business I've invested millions building up over the years with inaccurate and incomplete information, the gloves come off.

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Tony Kim
Rental Property Investor from Los Angeles

replied 25 days ago
Originally posted by @James Wise :
Originally posted by @Russell Brazil:
Originally posted by @Brad Fausett:
Originally posted by @Russell Brazil:

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

Well, in our market its how we get things done.  Sometimes it works, sometimes it doesn't.  House has sat on market for a long time in this market and just took a $30,000 price reduction.  Anyhow, That does not have anything to do with the poor communication in their attempt to sell a property for a client.  The title of the thread is - Poor Communication.    Never mind the buyer with cash looking to purchase.... Amateur move, okay Russell..

 That might be how you get deals done with agents who have 1 listing desperate for a commission check.  Thats not how you get deals done with agents and brokers with dozens of listings. Quickly expiring offers are an amateur move, and will typically expire before anyone has even looked at them.

And nothing in their communication seems poor. It seems quite professional.  Everyone bitches when their offers get rejected.  Make an offer the seller will accept if you want the property. The seller owes you no explanation as to why they rejected your offer.  But when people drop the price $30k, they are not typically going to accept and under list offer on that property unless its been sitting at that price. Youve stated they just dropped the price, thats obviously the price they are willing to take at this point in time.  



 Wow.....Brad Brad Brad, not any idea in the world what you're doing and you're coming on here making me have to publicly air out your dirty laundry. 

As you wish.

1. The property has received many offers. Some decent, some like yours total nonsense. It's been in and out of contract multiple times as well. Most recently a buyer who's financing fell apart. Stating it's been on the market many months without any offers is not based in any fact. You have literally pulled that sentence out of thin air. 

2. This property has had a 3rd party inspection, appraisal and a video tour. Your agent was provided with a video tour as well the previous buyer's home inspection. It was explained to her that ONLY cash offers with no contingencies were being accepted as everything has been provided. This rental property has two tenants in it. We can not and will not let every random tire kicker like you disrupt their lives during a pandemic.

3. Not only did your agent not submit another offer to us with the above mentioned contingencies removed, this cash offer you claim you have submitted to us was not a cash offer. It was actually a financed offer.

4. Below is the pre approval letter submitted to us by your agent. It's not even a pre approval letter for you lol. It's a letter from Dollar Bank stating that another man Daniel S. ****** has the money in his account, not you. Note this man Daniel S. ***** is not listed on the offer your agent submitted to us.

5. The sellers have agreed to terms with a actual cash buyer on an actual AS-IS offer.

I know for a fact that a lot of agents in my area wouldn't even respond at all if given the same situation. No need to waste time with a response when a non-response means the same thing.

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James Wise
Real Estate Broker from Cleveland, OH

replied 25 days ago
Originally posted by @Tony Kim :
Originally posted by @James Wise:
Originally posted by @Russell Brazil:
Originally posted by @Brad Fausett:
Originally posted by @Russell Brazil:

You made an under list offer in the morning and put an 8pm deadline on it. It's an amateur move. You got treated like an amateur.  I probably wouldnt have even seen the offer before your deadline if you had sent it to me. 

Well, in our market its how we get things done.  Sometimes it works, sometimes it doesn't.  House has sat on market for a long time in this market and just took a $30,000 price reduction.  Anyhow, That does not have anything to do with the poor communication in their attempt to sell a property for a client.  The title of the thread is - Poor Communication.    Never mind the buyer with cash looking to purchase.... Amateur move, okay Russell..

 That might be how you get deals done with agents who have 1 listing desperate for a commission check.  Thats not how you get deals done with agents and brokers with dozens of listings. Quickly expiring offers are an amateur move, and will typically expire before anyone has even looked at them.

And nothing in their communication seems poor. It seems quite professional.  Everyone bitches when their offers get rejected.  Make an offer the seller will accept if you want the property. The seller owes you no explanation as to why they rejected your offer.  But when people drop the price $30k, they are not typically going to accept and under list offer on that property unless its been sitting at that price. Youve stated they just dropped the price, thats obviously the price they are willing to take at this point in time.  



 Wow.....Brad Brad Brad, not any idea in the world what you're doing and you're coming on here making me have to publicly air out your dirty laundry. 

As you wish.

1. The property has received many offers. Some decent, some like yours total nonsense. It's been in and out of contract multiple times as well. Most recently a buyer who's financing fell apart. Stating it's been on the market many months without any offers is not based in any fact. You have literally pulled that sentence out of thin air. 

2. This property has had a 3rd party inspection, appraisal and a video tour. Your agent was provided with a video tour as well the previous buyer's home inspection. It was explained to her that ONLY cash offers with no contingencies were being accepted as everything has been provided. This rental property has two tenants in it. We can not and will not let every random tire kicker like you disrupt their lives during a pandemic.

3. Not only did your agent not submit another offer to us with the above mentioned contingencies removed, this cash offer you claim you have submitted to us was not a cash offer. It was actually a financed offer.

4. Below is the pre approval letter submitted to us by your agent. It's not even a pre approval letter for you lol. It's a letter from Dollar Bank stating that another man Daniel S. ****** has the money in his account, not you. Note this man Daniel S. ***** is not listed on the offer your agent submitted to us.

5. The sellers have agreed to terms with a actual cash buyer on an actual AS-IS offer.

I know for a fact that a lot of agents in my area wouldn't even respond at all if given the same situation. No need to waste time with a response when a non-response means the same thing.

 I hear ya. Clear, concise,  and direct to the point communication is something we pride ourselves on so everyone gets a response as to what an acceptable offer is, no matter how ridiculous their offer attempts are.

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Brad Fausett
from Cleveland, Ohio

replied 25 days ago

Excuse me... Both names are on the proof of liquidity, upon accepted offer the transaction would have been handled in a cash purchase.  Cash is Cash, apparently not to you Mr. Wise.  My partner was providing a bridge as my liquid is tied up in another property for 45 more days, I can sit on the sidelines or continue to use the resources that I have developed to move projects forward.   Is this not BiggerPockets, a forum dedicated to learning how to leverage the resources at our fingertips.  I was putting up $80k and leveraging a resource to keep my projects moving while another closed.  

Again, not sure what world you live in but this is a cash offer, and proof of liquidity were supplied to your firm.   My partner was also taking a position in the property.

If you have received other offers I extended my apologies.   I have seen this property on the market since last September and it has seen a number of price reductions and  time pass along in a market where properties sell within days.   I made an error in judgement assuming there were no offers based on the information I had.   I called in a favor from someone with more access and I see you have had it in contract 2 times since.  However, I think you are missing the entire point of this post.

$7,000 below asking price is total nonsense?   This is after I toured the upstairs property and was met with multiple places where the roof is leaking and has damaged the interior ceiling, black mold Is present on the walls and you were kind enough to leave an industrial size bottle of rat killer sitting on the kitchen sink?   This is a total non-sense offer?   

You sent us the video yesterday in your email, It was watched at least 10 time, I walked the property and visited the upstairs unit.  Your email yesterday did not include a former inspection report, that information would have been helpful but was NOT present.  

To the gentleman who said " I guess that didnt go how you expected", actually it did entirely.   When a customer wants to do business with them and made a reasonable offer on a property he only had time to say offer declined.   I must agree with the other first person who commented that HW is more worried about being HW then actual working with a buyer. The time and effort he spent in his response here on bigger pockets proves my exact point of this post.  After my first experience dealing with them, I find they have poor communication skills.  0 effort was made to bring a prospective buyer any closer to any other offers or to the goal of their seller.

Go ahead and bash the clients who are up and coming investors, those who have multiple properties under their belt or the long time pros on here, its clear, customer service is not imperative in your operation.  Had you given 1 tenth of the effort you did in your BP response to my offer I would never had voiced my experience of your company poor communication skills.  

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Brad Fausett
from Cleveland, Ohio

replied 25 days ago

My offer may have been rejected, we may not have been able to come to terms on this location but I would not have hesitated to contact you about another property in the future.  I can not say that at this point, nor will your company be considered for the future property management role I intend to seek in the near future.  At least you had the decency to redact information on the proof of funds letter you were sent.  Posting that information here is in bad taste however.  Simply stating your position would have sufficed.   Protection of private document should be a given in business, at least within businesses who operate with a bit of class.

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Brad Fausett
from Cleveland, Ohio

replied 25 days ago

"communication is something we pride ourselves on so everyone gets a response as to what an acceptable offer is, no matter how ridiculous their offer attempts are."      James, Where in your response to my offer did you provide what an acceptable offer was, no matter how ridiculous you think my offer was?

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James Wise
Real Estate Broker from Cleveland, OH

replied 25 days ago
Originally posted by @Brad Fausett :

Excuse me... Both names are on the proof of liquidity, upon accepted offer the transaction would have been handled in a cash purchase.  Cash is Cash, apparently not to you Mr. Wise.  My partner was providing a bridge as my liquid is tied up in another property for 45 more days, I can sit on the sidelines or continue to use the resources that I have developed to move projects forward.   Is this not BiggerPockets, a forum dedicated to learning how to leverage the resources at our fingertips.  I was putting up $80k and leveraging a resource to keep my projects moving while another closed.  

Again, not sure what world you live in but this is a cash offer, and proof of liquidity were supplied to your firm.   My partner was also taking a position in the property.

If you have received other offers I extended my apologies.   I have seen this property on the market since last September and it has seen a number of price reductions and  time pass along in a market where properties sell within days.   I made an error in judgement assuming there were no offers based on the information I had.   I called in a favor from someone with more access and I see you have had it in contract 2 times since.  However, I think you are missing the entire point of this post.

$7,000 below asking price is total nonsense?   This is after I toured the upstairs property and was met with multiple places where the roof is leaking and has damaged the interior ceiling, black mold Is present on the walls and you were kind enough to leave an industrial size bottle of rat killer sitting on the kitchen sink?   This is a total non-sense offer?   

You sent us the video yesterday in your email, It was watched at least 10 time, I walked the property and visited the upstairs unit.  Your email yesterday did not include a former inspection report, that information would have been helpful but was NOT present.  

To the gentleman who said " I guess that didnt go how you expected", actually it did entirely.   When a customer wants to do business with them and made a reasonable offer on a property he only had time to say offer declined.   I must agree with the other first person who commented that HW is more worried about being HW then actual working with a buyer. The time and effort he spent in his response here on bigger pockets proves my exact point of this post.  After my first experience dealing with them, I find they have poor communication skills.  0 effort was made to bring a prospective buyer any closer to any other offers or to the goal of their seller.

Go ahead and bash the clients who are up and coming investors, those who have multiple properties under their belt or the long time pros on here, its clear, customer service is not imperative in your operation.  Had you given 1 tenth of the effort you did in your BP response to my offer I would never had voiced my experience of your company poor communication skills.  

_

 Brad are you lost? I literally posted the email in this thread twice where I sent you the inspection report as well as explained what type of offer terms where acceptable. Here it is for the 3rd time.

In addition, you're rambling about this guy giving you a loan in the screenshot below. This ramble of yours is completely contradictory to reality. I also posted the form your agent sent in this thread. I will post it again below. 

#1 It states he has the money, not you. His name is not on your purchase agreement, yours is. 

#2 the fact that he is loaning you money for your purchase means it's a loan. I don't know how else to explain that to you.

# 3 You not understanding what is and is not a loan isn't even the only problem here. I have explained to you about 4 times now the offer needed to be AS-IS.

Just put down the shovel dude. You are digging the deeper. Let it go, you've made mistakes and hopefully learned. Now it's time to move on.

_

_

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  • Posts 121
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Brad Fausett
from Cleveland, Ohio

replied 25 days ago

Clearly you didn’t read the entire document.   Just above to whom it may concern. Re: Verification of funds on deposit.

Now remove those screenshots, redact all personal information.    

@James Wise

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Check Rosette Top Subject:
Rentals
  • Posts 2.0K
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Scott Mac
from Austin, TX

replied 25 days ago

Sellers market....offers might need to be more on target.

Maybe @James Wise has another property that fits your requirements.

Good Luck!

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