A-K Real Estate - Richard Balles - A-K Real Estate - Richard Balles had a non-independent home inspection conducted without us being present, urged us to buy a home sight unseen. and put us in a loan we didn't understand.. Germantown Maryland

Richard Balles, at the referral of a friend, became our realtor.  This was our first home, and it appears, after the fact, that A-K Real Estate and Richard Balles may have taken advantage of us.

Richard Balles urged us to use his friend as a financing company citing the companies reliability.  He urged me NOT to use my VA Loan, which I had determioned at the time to be a better option than the loan he pushed on us.  We learned later that this is highly discouraged in the real estate business.  He set up a home inspection that was performed without us being present.  When I confronted him on the matter, he told me their were no major issues (we have since replaced all the bathroom walls due to their improper construction and mildew presence).  These issues were present at the time of the purchase.  Richard Balles convinced us to purchase a home sight unseen citing that it was identical and better than previous homes (with identical architecture, same development, etc) than we had seen.

Granted we should have been better informed, it appears Richard Balles and A-K Real Estate may have manipulated us to make a quick sale.  (He made $8000 on a $260K home).  We are now in a 3 year interest only loan subject to readjustment (and our mortgage is upside down).  Thanks A-K!

Conversations with numerous real estate agents following the purchase stated that according to real estate ethical guidlines, Richard Balles should lose his liscence.  Investigation has revealed that Mr. balles no longer in employeed at A-K but now works for NREV.