First time home buyer gets burned by realty company and realtor. Home buyers should beware of foreclosure realty companies in the Metro-Atlanta area. A company called Southern Reo the deals mainly with foreclosed properties lists homes for sale on local/national realty website at a deal of a century price. The home I was looking at was in a fantastic area / size for the money they listing it for. Southern Reo informed me that it was mandatory to get a home inspection done on the home before I could even put an offer on the home. My realtor with GMAC Metrobrokers in Douglasville, Georgia misrepresented me did not go to bat for against this mandatory home inspection that was supposedly necessary. A day after my $250.00 home inspection was finished, my realtor received the offer / closing papers from Southern Reo which I initialed and signed was sent to Southern Reo the same day. Southern Reo failed to mention that once an offer is on the house that they can and will accept another/higher offer. The next day Southern Reo sent my realtor and me an e-mail stating that there was another accepted offer placed on the house.in the offer / closing papers the clause about home inspections does not state that it is mandatory to have a home inspection done before an offer is presented. Unfortunately, I lost the $250.00 on a home that I was not awarded! There are blogs on the internet that talk about how Southern Reo has ripped consumers off! I am a college graduate and have loan debt just like anyone else. It is hard to find a home in good conditions and a safe location that will fit into my max loan requests from mortgage companies. I understand that my $250.00 is gone but I would like to inform that general public to watch out for companies of this nature because it is not right and dirty to take advantage of the consumer which is the livelihood of this business! Please help pass the word along. Something must be done to stop these people!
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