• Report: #6048

Complaint Review: Michael Rastedt

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  • Submitted: Mon, August 06, 2001
  • Updated: Mon, August 06, 2001

  • Reported By:Chicago IL
Michael Rastedt
2341 W. Taylor St. Chicago, Illinois U.S.A.
  • Phone: 312-243-4033
  • Web:
  • Category: Realtors

Michael Ramstedt of Historic Realty, Inc. is not a "good faith" realtor.

*REBUTTAL Individual responds: Unfair attack. Not based on "facts"

*0:

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We are trying to buy property in Chicago and Michael Ramstedt is the realtor for the owner. Michael, so far, has hampered our negotiations in the following manner:

1. Michael misrepresented the property in the listing in several ways. He indicated that the property: had oil heat (it has a gas); had a wood-burning fireplace (it has a broken inoperable fireplace); had fireplaces in all three units (there is one 'inoperable fireplace'); had dishwashers in two units (it had a dishwasher in one unit).

2. Michael did not inform us (the buyers) that one of the furnaces in the building was broken.

3. Michael refused to produce a disclosure statements within the specified time, and, when reminded that this could cause legal problems for him, threatened to stop negotiations.

4. Michael indicated that the owner would perform several repairs that the owner later indicated he knew nothing about (e.g., stabilizing the back deck, performing ceiling repairs in one unit). Although the owner later agreed to perform the repairs, Michael initially misrepresented the information and, as a result, damaged our belief that he will perform his duties in a conscienious manner.

5. Michael, acting as the owner's agent, accepted deposit money from renters that he knew we, the purchasers, would not approve. This act was not in compliance with prior agreed-upon terms between us (the buyers) and the owner. Although Michael was told by the owner that these terms should be accepted, and Michael was in the room when these terms were discussed between all of us, he claims he "forgot" when accepting the rent deposit.

6. Michael, also a tenant in the property we are trying to purchase, indicated that he would send a copy of all the leases in the building to our realtor and/or our lawyer in order for us to secure a loan with our bank; however, when he did not forward the leases when he promised to, he admitted that he did not have the kind of lease he told us he did, and that he wanted to rewrite the current lease to better protect himself prior to giving it to our realtor. This action will delay and possibly prevent us from obtaining funding to purchase this property.

Michael Ramstedt's attitude throughout this process has appeared to be arrogant and his actions counter-productive and destructive. We do not trust his ability to perform as a realtor and we do not recommend him as a real estate agent.

This report was posted on Ripoff Report on 08/06/2001 12:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Michael-Rastedt/Chicago-Illinois-60612/Michael-Ramstedt-of-Historic-Realty-Inc-is-not-a-good-faith-realtor-6048. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Individual responds

Unfair attack. Not based on "facts"

AUTHOR: Historic Realty - ()

I am filing this rebuttal now, at such a late date (13 years later), because I checked and although I thought I had originally filed a rebuttal, it does not appear to have been submitted properly . .so I was unaware my side of the story i.e. “rebuttal” was missing.

And I am tired of hearing “Hey. . .do you know you are on Rip-off report”. Uh. Yes. I am well aware. :-(

And yes. Its extremely frustrating and quite unfair to have someone slander you with no recourse. And even more frustrating that sites like Rip-off report allow it with basically “no recourse”, except your rebuttal. They have no valid way to allow you to remove the complaint (without paying them thousands of $$ and just “hoping”). It feels like a form of “blackmail"

It costs at at bare minimum $5,000 to pursue a personal defamation case and get a court order to have google delist the link. Thats your only legitimate option. Suing them isn’t an option. Suing google isn’t an option.

So you can really write anything about anyone here, on Rip-off report. . . for any reason . . . in an attempt to smear or defame them . . .and “get away with it”. Its worse then high school gossip.

I encourage anyone who sees a rip-off report on any individual to “look further” and take it with a “grain of salt” etc. Keep in mind they probably have their “side of the story” and as with most professionals, “do your homework” first. I am sure some are real. But probably countless others that are just good people being slandered by crazy people.

On that note, I have been a realtor for almost 20 years. I have transacted over 300 properties and 500 rentals. I owned my own brokerage for 12 years. I am considered by many as one of the best realtors in the Chicago area. I have an intensely loyal long term clientele, because I am exceptionally honest. I always put my clients before commissions, put my “fiduciary” responsibility as a highest priority and have even talked countless people out of buying property.

I can provide anyone who would like, literally, dozens, even hundreds, of high quality personal statements and recommendations from people I have worked with repeatedly over the years.

I have never had anyone else except this one single individual file any kind of complaint at anytime. Anywhere. She also filed a 2nd report . . 7 years later, again, unfairly of which I did file a proper rebuttal

Without getting too personal, this individual had “issues”. I wish I was at liberty to really write what I know about this individual, her relationships with others and what I saw going on while in the same property as her for 7 years, but I don’t want to “go there”. It would actually be, well, kind of mean.

You can read my rebuttal to her other complaint and decide for yourself.

On another note: Buyer had an agent representing her. And an attorney. And an inspector. It was their job to represent her (professionally) in this transaction. Not my job. I represented the seller. She was constantly trying to call us directly and we had to keep reminding her that she needed to work through her “representation”. Not only as a professional courtesy to her representatives, but because its the proper (and legal) way to do business.


CLAIM: Michael misrepresented the property in the listing in several ways. He indicated that the property: had oil heat (it has a gas); had a wood-burning fireplace (it has a broken inoperable fireplace); had fireplaces in all three units (there is one 'inoperable fireplace'); had dishwashers in two units (it had a dishwasher in one unit).

REALITY: There were errors in the MLS sheet when it was inputed and also from “cloning" a previous listing.

*Buyer was well aware of these errors when they viewed the property as we acknowledged them.
*These errors were corrected in the MLS soon after
*Buyer was aware of these errors and the true nature of the items PRIOR to making an offer

This is basically a “flagrant lie intended to smear”


CLAIM: Michael did not inform us (the buyers) that one of the furnaces in the building was broken.

REALITY: As a realtor, I am responsible for disclosing anything I am aware of. I am not responsible for having a “complete condition knowledge” of a property, at all times. Conditions change. That is the role of a building inspector. Buyer hired a building inspector. If a building inspector finds previously unknown issues, then buyer, seller and the attorney’s representing each of them can elect (or not) to discuss and negotiate.


CLAIM: Michael refused to produce a disclosure statements within the specified time, and, when reminded that this could cause legal problems for him, threatened to stop negotiations.

REALITY: We had an issue getting signed disclosures from Seller. Took longer then we would have liked. This is not uncommon in this business. It is also something that isn’t under our control. We can’t force anyone to do anything. In terms of “causing legal problems” or “threatening to stop negotiations”? The first one doesn’t make any sense and the 2nd one is not something I am allowed to do, or even can do, as a realtor. I can only act as an intermediary in between parties


CLAIM: Michael indicated that the owner would perform several repairs that the owner later indicated he knew nothing about (e.g., stabilizing the back deck, performing ceiling repairs in one unit). Although the owner later agreed to perform the repairs, Michael initially misrepresented the information and, as a result, damaged our belief that he will perform his duties in a conscienious manner.

REALITY: The seller was a friend of mine. And originally purchased the building a year earlier so we could do business there. Actually, start our business. I remember the seller stating that the ceiling work would be “no big deal” but that the deck work was something that he wasn’t interested in doing, but might consider negotiating/crediting depending on what it would cost, that would have to be determined by an inspection first. And then “negotiated”.  In addition, no realtor can make any conclusive statement like that one on behalf of a seller or buyer. Items like those are generally handled by the attorneys so they can be verified by written agreement.


CLAIM:  Michael, acting as the owner's agent, accepted deposit money from renters that he knew we, the purchasers, would not approve. This act was not in compliance with prior agreed-upon terms between us (the buyers) and the owner. Although Michael was told by the owner that these terms should be accepted, and Michael was in the room when these terms were discussed between all of us, he claims he "forgot" when accepting the rent deposit.

REALITY: The seller was under no obligation to rent to anyone other then who they wanted to rent to up until point of sale, as they were still the owner of the building and also had no guarantee buyer would successfully purchase and close property. There was also no *actual* agreement by owner to do that, that I am aware of. If the owner had a discussion with buyer outside of me, I was not party to that. And as previously stated, owner accepted and processed the tenant I provided. So if he had some kind of agreement with buyer, he broke it himself.


CLAIM: Michael, also a tenant in the property we are trying to purchase, indicated that he would send a copy of all the leases in the building to our realtor and/or our lawyer in order for us to secure a loan with our bank; however, when he did not forward the leases when he promised to, he admitted that he did not have the kind of lease he told us he did, and that he wanted to rewrite the current lease to better protect himself prior to giving it to our realtor. This action will delay and possibly prevent us from obtaining funding to purchase this property.


REALITY: As I mentioned above, as with the disclosures, we did not have all of the proper lease copies, as we were waiting on seller to provide them. Another item out of our control. In addition, we, ourselves were waiting for owner to renew our lease as we were current tenants (as well) for the property in question. And well, yes. We were also, leaseholders and were obligated to secure our own lessee interests as well.


What struck me about this individual is that she wanted “things to be the way she wanted” regardless of whether or not other people agreed, or wanted those same things . . or were against THEIR best interest

And she would try to do anything necessary to ”get what she wanted"

We all know people like that

You always end up being the "bad guy" . . .

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#2 0

AUTHOR: - ()

We are trying to buy property in Chicago and Michael Ramstedt is the realtor for the owner. Michael, so far, has hampered our negotiations in the following manner:

1. Michael misrepresented the property in the listing in several ways. He indicated that the property: had oil heat (it has a gas); had a wood-burning fireplace (it has a broken inoperable fireplace); had fireplaces in all three units (there is one 'inoperable fireplace'); had dishwashers in two units (it had a dishwasher in one unit).

2. Michael did not inform us (the buyers) that one of the furnaces in the building was broken.

3. Michael refused to produce disclosure statements within the specified time, and, when reminded that this could cause legal problems for him, threatened to stop negotiations.

4. Michael indicated that the owner would perform several repairs that the owner later indicated he knew nothing about (e.g., stabilizing the back deck, performing ceiling repairs in one unit). Although the owner later agreed to perform the repairs, Michael initially misrepresented the information and, as a result, damaged our belief that he will perform his duties in a conscienious manner.

5. Michael, acting as the owner's agent, accepted deposit money from renters that he knew we, the purchasers, would not approve. This act was not in compliance with prior agreed-upon terms between us (the buyers) and the owner. Although Michael was told by the owner that these terms should be accepted, and Michael was in the room when these terms were discussed between all of us, he claims he "forgot" when accepting the rent deposit.

6. Michael, also a tenant in the property we are trying to purchase, indicated that he would send a copy of all the leases in the building to our realtor and/or our lawyer in order for us to secure a loan with our bank; however, when he did not forward the leases when he promised to, he admitted that he did not have the kind of lease he told us he did, and that he wanted to rewrite the current lease to better protect himself prior to giving it to our realtor. This action will delay and possibly prevent us from obtaining funding to purchase this property.

Michael Ramstedt's attitude throughout this process has appeared to be arrogant and his actions counter-productive and destructive. We do not trust his ability to perform as a realtor and we do not recommend him as a real estate agent.

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