TO ANYONE WHO HAPPENS ON THIS POST: If someone puts a non-standard contract in front of you, then read the whole thing before you sign it and if there is something you don't understand then get independent advice to explain it to you.
Thanks for giving us the heads up on Medallion.
I would NOT contact the Herald Tribune, as they've gone out of their way to paint Realtors in an unflattering light no matter what story they cover about our real estate market. I would suggest using your social marketing tools to get the story out and let people know about this company. In fact, I'll be Twittering about this very soon.
I definitely will steer clear of Medallion if at all possible with future clients. Good luck with your clients, I hate to see people treated that way.
David Barr, Broker Associate
I certainly would call the Attorney General and in addition I would bring it to the attention of the Sarasota Herald Tribune.
Perhaps you can report back the outcome of this as it would be helpful for all real estate professionals.
Wishing you and your buyers the best and I will remember Medaillon from now on. Bad news travels fast :)
I should have - my error. Judy, your clients - make sure they are taken care of and doing the
However, builders can not strong arm, write contracts that only favor them, which is why I suggested Attorney General -
Normally, I give builders a Far Bar - they scream holler and complain, I just tell them I am but a simple
Realtor and can not understand the docs their Lawyers make, then I tell them if they don't like what the Florida Bar comes up with - client and I move on. They find a way most always, and if they insist, I get client a Lawyer, then the fun starts.
Was there a financing contingency in the contract? If there was then they should be able to receive their deposit back. I would consult with a good real estate attorney. If you need a referral I have several I could recommend. I try to keep things local and have excellent references for mortgage brokers as well. Perhaps they need to explore someone else.
Teresa M. Fellows
Waterside Realty LLC
If they are denied, they can get their back usually.
If they still refuse, tell them that the clients will file a complaint with the state, prepare a lis pendants, etc. You have to make them blink.
If you did, they're contructually obligated to return the funds.
Also, your clients can't be forced to finance with the builders lender. Give me a call, I own a mortgage brokerage, let me look over their credit/income and see if i can get them a loan with a different lender. That way they won't need to get the deposit back.
Faith Home Loans