• Report: #657626

Complaint Review: SUNTRUST MORTGAGE

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  • Submitted: Tue, November 02, 2010
  • Updated: Sat, December 11, 2010

  • Reported By: Mark S. — ft oglethorpe Georgia USA
SUNTRUST MORTGAGE
1001 SEMMES AVE RICHMOND, Virginia United States of America

SUNTRUST MORTGAGE KELLER WILLIAMS REALTY ACROSS ATLANTA MORTGAGE COMPANY, LENDER, REALTOR, REAL ESTATE BROOKER RICHMOND, Virginia

*Author of original report: 360 turn around

*Author of original report: Doing the right thing

*Author of original report: Suntrust Bank, Keller Williams Realty Across Atlanta

*Consumer Comment: Check your contract..

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I signed a contract to purchase a home.  The date of the contract was 10/26/2010 and it was later in the evening.  I for my own personal reasons, changed my mind on the purchase.  I notified the Real Estate Agent/Brooker On Monday 11/01/2010 that I was no longer interested in the property.  I thought that I was within my 5 days since and especially SUNDAY was the fifth day.I am now told by the Real Estate agent that they are going to keep my $7000 earnest money.  Now, I am sure someone was working at Suntrust Bank on Sunday just in case someone changed their mind on buying a home.  There was also an additional document that the realtor did not have me sign.  It was an Amendment To Remove Inspection Contingency.  How can they ammend the agreement on the 12th hour, yet I can't resciend my offer on the 12th hour.   If you look at the calendar the contract wasn't signed until the 26th of Oct, and that was on a Tuesday.  The fifth day should have been the earliest Tuesday of the following week.  But they chose to make it on a SUNDAY.  WHO DOES BUSINESS ON SUNDAY?  Also the Agent represented both the BUYER and the Seller.  I think that was a bit of Conflict of interest in itself.  I have NEVER RECEIVED anything from the BANK stating that they are keeping my earnest money.  Only signed forms from the Agent.  I have to wonder if the agent kept my money and the bank knows nothing about it...SO ALWAYS BE VERY CAREFUL when signing realestate documents.  And no matter what day it is, if you have to drive to your agents home, make sure you get the message across to them and get confirmation. 


KELLER WILLIAMS REALTY ACROSS ATLANTA & SUNTRUST BANK
TOTAL RIP OFF'S


This report was posted on Ripoff Report on 11/02/2010 09:47 AM and is a permanent record located here: http://www.ripoffreport.com/r/SUNTRUST-MORTGAGE/RICHMOND-Virginia-23244/SUNTRUST-MORTGAGE-KELLER-WILLIAMS-REALTY-ACROSS-ATLANTA-MORTGAGE-COMPANY-LENDER-REALTOR-657626. 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.

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#1 Author of original report

360 turn around

AUTHOR: Mark S. - (USA)

WOW, what can I say, but Thank YOU Suntrust Bank and Keller Williams. As I posted previously, they sent me an email stating the were going to return my earnest money. Wasn't sure about anything until I actually received a check. Well, last Thursday I did receive my full amount back. I couldn't believe it. I want to thank them both for what I would consider the right thing. Whoever made the final decision must be a good person. So, thank you and Merry Christmas
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#2 Author of original report

Doing the right thing

AUTHOR: Mark S. - (USA)

WOW, imagine my surprise yesterday when I received an email from the realtor telling me that after careful consideration they have agreed to return my earnest money.  Just out of the blue, now lets see how true that email is.  Perhaps there are good folks in this world afterall.....
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#3 Author of original report

Suntrust Bank, Keller Williams Realty Across Atlanta

AUTHOR: Mark S. - (USA)


Original Report:

I signed a contract to purchase a home.  The date of the contract was 10/26/2010 and it was later in the evening.  I for my own personal reasons, changed my mind on the purchase.  I notified the Real Estate Agent/Brooker On Monday 11/01/2010 that I was no longer interested in the property.  I thought that I was within my 5 days since and especially SUNDAY was the fifth day.I am now told by the Real Estate agent that they are going to keep my $7000 earnest money.  Now, I am sure someone was working at Suntrust Bank on Sunday just in case someone changed their mind on buying a home.  There was also an additional document that the realtor did not have me sign.  It was an Amendment To Remove Inspection Contingency.  How can they ammend the agreement on the 12th hour, yet I can't resciend my offer on the 12th hour.   If you look at the calendar the contract wasn't signed until the 26th of Oct, and that was on a Tuesday.  The fifth day should have been the earliest Tuesday of the following week.  But they chose to make it on a SUNDAY.  WHO DOES BUSINESS ON SUNDAY?  Also the Agent represented both the BUYER and the Seller.  I think that was a bit of Conflict of interest in itself.  I have NEVER RECEIVED anything from the BANK stating that they are keeping my earnest money.  Only signed forms from the Agent.  I have to wonder if the agent kept my money and the bank knows nothing about it...SO ALWAYS BE VERY CAREFUL when signing realestate documents.  And no matter what day it is, if you have to drive to your agents home, make sure you get the message across to them and get confirmation.  KELLER WILLIAMS REALTY ACROSS ATLANTA & SUNTRUST BANK TOTAL RIP OFF'S

 

In reading information on the internet and talking with a Real Estate Attorney, the standard earnest money amount is usually 1-3% of the selling price, in some cases being ask to pay $1000.  I was told I HAD TO PAY $6990.  As soon as I got back in the car, my 75 year old mother told me "You just got ripped off". I am a trusting person and said NO.  Little did I know...
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#4 Consumer Comment

Check your contract..

AUTHOR: MovingForward - (United States of America)

In the normal contract you would have your funds put in escrow. The escrow can be held by either a title company, an attorney or the real estate brokerage escrow account; however, it must be disclosed to you who is holding the funds. 

You can file a dispute with the Board of Realtors. The first thing you want to do is read your contract to see the written paragraphs detailing what you, as the buyer, had to do to not default on the contract. Usually there are a several "outs" in the contract, one of which is not getting your mortgage approval. A typical contract normally has an inspection period in which you can cancel either due to the inspection or within the inspection period depending upon the type of contract you have signed. Then call the broker of record for the Keller Williams office with which you are dealing. Then if you still do not get resolution, file your dispute with the Georgia Board of Realtors.

Or, call your attorney.

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