The person who filed this report with RipOffReport.com has never been a client of mine. This person, Nathan Tabor, who filed the report has never retained me for brokerage services.
Nathan Tabor was upset because the property he was selling to my client, David Cantrell, was inflated over the true value of the asking price. The value of the property was based off an appraisal, which is out of my control. Because Nathan Tabor was unable to get away with his scam on inflating the price of the property over $100,000 over what he was selling it for, suddenly he claims that I am a scam artist because his fraudulent maneuvers were found out.
My investors who underwrite and fund these loans all require a certified appraisal in order to fund a property deal. When a property is found to appraise at a lower price than what the final purchase price is, the seller has the option of dropping the price to the appraised value or to back out of the deal. The other option is for the client to make up the difference in the value which would have cost my client $100,000. My client chose not to go forward with the deal because he did not want to come out of pocket the $100,000 required over the appraised value of the property. I have never worked with a buyer of a property who was willing to come out of pocket to make up for a seller's asking price by giving up hard-earned dollars at closing just so a seller can rip off a client by selling a property for much more than appraised value.
My client, David Cantrell, chose not to fall for Nathan Tabor's scam and decided to terminate the deal because he did not want to come out of pocket $100,000 in order to close this deal. Nathan Tabor, the seller, had the option to lower the final purchase price to appraised value in order to sell his property. He failed to lower the asking price.
No lender in today's lending environment will lend above what appraised value is on a property whether it's a residential or commercial property purchase. Because the seller, Nathan Tabor, was running a scam and insisted on selling the property for a super-inflated price well above $100,000 ABOVE appraised value -- and was unsuccessful in his scam -- suddenly everyone in the lending world is a scam artist when, in reality, Nathan Tabor (the seller) is the scam artist in this deal.
And finally, the lender offered to transfer all fees that were paid to them (from the buyer, David Cantrell) to apply toward another property deal. Again, the seller, Nathan Tabor, never paid for any of the brokerage or lending services provided. All fees paid by the buyer were offered to be applied to a different (preferably more legitimate) property transaction.
From the lender himself in an email directed toward me in reference to Nathan Tabor's unprofessional communications (which included approximately 85 emails) to me, this is the response I received from my lender (Sean Hayes from Montage Holdings):
"Ron,
I appreciate you keeping me apprised of Mr. Tabors “rants”. Rest assured we have provided enough documentation to validate the UW findings on the Cantrell file. We have more than explained the reasons for the denial of Mr. Cantrell file and can only do what falls into program guidelines and meets our investor, who is providing the financing, requirements. Typically, the one who barks the loudest is only trying to deflect his own wrong doings. The inflated value and fraudulent activities regarding the listing on Loopnet. In the end we still put a offer on the table that he refused to renegotiate with the borrower. I fear for Mr. Cantrell most in this situation. I hope he is not locked into the contract.
We truly appreciate your business and look forward with you and your borrowers in the future."
Why file a report here? Ripoff Report is a permanent record! Other complaint sites copy our content then remove reports for money.
