Asked by Steve, Sacramento, CA • Thu Feb 12, 2009
Here is a summary version. I also have a detailed version, it is too long to be posted. If you would like it, I can email it to you.
I am in California, and I bought a fixer upper in Tampa, FL from a Tampa real estate company sight unseen. I was told it was a three bedroom at the time of purchase, and they would also renovate and rent the property for me. An estimated three weeks renovation started at the beginning of November and it is still not done today. I found out in the past month that it is only a two bedroom, and it is verified as a two bedroom by an appraiser. I was also informed by another local property manager:
1. The property will not pass a general code city inspection, and it is not curable
2. Even if it passes the general code inspection, it will only rent about $500/month as a two bedroom vs. the $900 I was told when I bought the property.
I just want my money back at this point, and the company is refusing to do anything. What should I do?
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