I put a condo on the market thru Buy Owner on 7/11/07, as Septembe 2007 I had ot had any one call inquiring about the Condo. I changed the price which was priced at 202,000 dollars because the buy owner agent said that what the market price was for that building. I lowered the price several times however, by December still no buyer or any inquiries.
The agent was told that the property needed to be sold as soon as possible she stated that this would happen between 7 to 8 weeks. I was told by the agent that the condo would be marketed in the news paper, online, by MLS and nationwide.
I eventually, found out that MLS is a real estate company not the Multi listing agency that I was lead to believe. As of December only 200 people had logged onto my vitual tour and not one person ever physically looked at the place. I was told by a Buy Owner manager that I misunderstood what I was told basically for $5000.00 was a vritual tour on their web site.
I then tried to sell the property thru MLS realty company which works with Buy Owner for a percent of the sale (3.95 %). They were going to market and show the property. However, by January still no buyer, they said at least 50 people looked at the condo. I do not believe this was true because no one even made an offer. I then find out they are not a real estate agency at all just another listing agency like Buy Owner.
However, buy now I cannot afford to pay the morgage, Yes I tried to rent the place however, I missed the time frame when people are looking for apartments in Chicago. I finally, hired a real broker who had a buyer in less than 4 weeks. However, because I couldn't pay the mortgage the place is in fore closure and we have to do a short sell. I have lost thousand's of dollars, my credit is bad and I am having financial difficulties all because of Buy Owner.
I would like to sue them however, I can't afford a lawyer. If anyone knows of a class action suit please let me know. I also, reported them to the States Attorney, Better Business Bureau and the Illinois Commerce Commission. I have only heard from the States Attorney who will be investing Buy Owner.
Vanessa from Illinois
Vanessa
waukegan, Illinois
U.S.A.
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