All Forum Posts by: John Spencer

 I sent him an email at 7AM this morning and still no response. It is now 11:12AM. Thank you all for your response(s), I really appreciate it!! 

I am currently purchasing a 2-unit multi-family (1st time) that is fully occupied and getting ready to close in 2 business days. When I was shown the property back in early September, I was advised by my realtor that the 1st unit was being rented at $900/month, and 2nd unit at $950/month. I was also issued the listing sheet on two occasions that also specified the rent amounts.

Shortly after the seller accepted my offer (on 9/16/17), I requested an estoppel certificate and was told by my realtor that he would be working on it. Two weeks went by and still no estoppel. I reached out and questioned the status of the estoppel on 10/5/17 in which he stated “still waiting on the estoppel but we only need that a week or so before closing”. At that time I trusted my realtor’s word and stopped bugging him about the estoppel (Huge mistake on my part!)

On 10/25/17 I finally received the estoppel certificate which shows that the 1st unit is currently renting at $800/month and 2nd at $926/month.

It appears that the seller or seller’s agent may have misrepresented the rent amount possibly so that I could visualize a higher cash flow. I also believe my realtor or the selling agent withheld the estoppel as it is dated for 10/3/17.

Because I have almost no time left to do anything I’m left thinking I got duped by my realtor, seller, and seller’s agent. Again, I close in 2 business days and it just so happens that the estoppel is sent conveniently right before closing.

Do I have any options available legal wise or filing a complaint if I can’t work something out?

Thank you for your time.