Am a small business real estate company. A tenant paid a $900 post office issued money order for rent and we deposited 12/7. After 5 days of "Hold" status I contacted customer service about the "hold" as our client who this $900 belongs too is threating lawsuit for not paying his rent to him. Customer service could not tell me anything and to check back the next day. I followed they instructions and followed up with customer service the next day, same results as the day before. It is now 12 days later I have contacted customer service every other day with no answer or resolution.
Today 12/19 I finally got an answer from customer service, they told be they will not be releasing the money until 1/14!!! That is over 6 weeks of holding a post office issued money order. Is this not the most ridiculous thing you have heard? Things are getting more heated as now I am in complete Missouri Real Estate Commission violation for holding onto property owner funds, I am at risk of losing my real estate brokers license and being sued.
To say this is beyond nuts is an understatement, as a business that deposits over $10K-$30K a month with the bank and now I am risking losing my business, my license and being fined and sued.
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