Expert: Dick Dennis - 12/26/2010

Question
Hi, thank you in advance for reading my question, any feed back will be greatly appreciated.
I tried to purchase a "HUD home", according to my realtor, for which i put a 10% discount, according to my realtor, since we could not get financing, the deal did not go thru, according to this realtor, she was waiting to the signed escrow release from hud, which as of today, she never had, then she kept telling me that she had to cover her basis and that she could not release the funds, finally she told me that she had sent a release to raspa or fsb that once they had respond/acknowledge the actual transaction she would order the bank transfer, she even sent me a wire order, that never went thru, so i told her that if i did not received my escrow money i was going to seek legal help, she said not to do that because she could loose her license, so i said ok but only if she gave me the funds intermediately, she agreed and gave me a check, well today i checked my bank and the check had bounced.

I really need your help/recommendation.

Thanks,
Nazario Soto

Answer
This looks like a scam, Nazario. The Realtor had her chance. She screwed up. Now get that real estate attorney after her and her office . . . if she is indeed a Realtor. If she is supposed to be a California real estate agent, let me know her name and I can verify if she is licensed. Otherwise, get that attorney after her immediately.

To whom did you write that check? If it was not written to a broker's trust account, a title company or escrow company, then this may indeed be a scam. Do not wait. Get that attorney. I am not understanding most of what you said, Nazario. So please excuse me if I do not answer your question properly. I do wish you well.

Dick Dennis
CA Lic Broker #00349415
dixiedee13@aol.com