Newsflash: Real Estate Agent (also Property Management Company) Screwed me!

[MICHIGAN] – Sorry, I missed putting it in the titleFor the past 8 years, I’ve been renting a condo in Michigan. A couple months ago, my tenant (who has been there a year) mailed me to say he wanted to buy the condo. I agreed to sell it to him. According to the paperwork I signed with the property management company, they have a right to 6% if they found the tenant. I contacted them and they said in return, they’d do the real estate agent duties (the owner is a broker).The ride was a little bumpy. But, closing is tomorrow and my wife & I were signing a day early because we can’t make it to the closing tomorrow. When the title company went over the settlement sheet, I was surprised to see a $1666 special assessment on the condo for a roof replacement. This was never mentioned to me by the property management company. I only learned about it today, a little under 2 months after the assessment was made. Here is some other information:- Assessment was sent out 3/27- Buyer signed purchase agreement on 4/5- I signed purchase agreement on 4/11- I signed closing paperwork today (5/22), still not knowing about this assessment- Property Management company has all mail forwarded to them from the association. I don’t get anything directly.- I never saw the settlement sheet prior to today when we met with the title company. I guess I should have?I signed an escrow agreement today which puts things in escrow until I give the go ahead. I really don’t want this deal to fall through, but 1600 bucks is a lot of money. Had I known, I would’ve tried to negotiate this into the price (at least 1/2 of it).What are my options? When I finally get hold of this broker, I was thinking of pressing her to pay for it, since she messed up. Can I hold the real estate agent liable for this through small claims court? Is there anything else I can do?Thank-you for any information you guys can give me. I’m really frustrated by this crappy real-estate person!


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s