South Bay Realty is a company built upon poor ethics simply trying to scam extra dollars from your bank in shady real estate deals. This company is shrouded in dishonest business dealings, and will operate on both sides of the transaction to earn the deceitful dollar. DO NOT DO BUSINESS WITH THEM OR BELIEVE WHAT THEY SAY!
My husband and I went to South Bay looking to buy a nice beach condo. We were treated like cattle in his poor excuse of an office by unprofessional staff members (they even talked about doing drugs amongst each other as if we weren't in the room). Then we waited close to an hour just to speak with "the guy" in charge, he proceeded to laugh at our price range and quickly ushered us out the door for an "important meeting". Days later we received a phone call stating that a few properties had magically popped up within our price range and desired characteristics. So despite our better judgement we went ahead and checked out what he was selling.
After viewing several places we found one that really struck a chord for us and had our heart set on it. My husband and I are getting close to retirement and have worked hard our entire lives. We were looking to purchase a nice condo on the beach to spend our later years in.
Long story short...
We placed an offer on the condo of our dreams with South Bay Realty and against our better judgement handed $5000 cash to the agent as a "earnest money deposit" to hold our home. One week later we were asked for an additional $15000 cash which we didn't have on hand, but told the agent that we could get it in a week after liquidating our retirement accounts. This didn't seem the norm but we were assured our money was in safe hands. While we were waiting for our accounts to be liquefied we placed our offer IN WRITING to the "owner"...
Then the phones went blank, we could not get a hold of our agent, calling the business simply resulted in a secretary giving us the run around, taking a message, with no responding phone call. 2 weeks pass and finally we got an "explanation" which broke our hearts in the process. Our dream condo was sold to a higher bidder. This I can understand, but our agent made the mistake of mentioning the other offer was submitted a few days after ours.
Not understanding real estate ethics we didn't realize we had been screwed initially. Upon consulting with different agents I now understand that that was entirely unethical and our offer should have been honored because it was submitted first with a deposit.
Here is the kick! It took 90 days for us to get our refund! And we got screwed out of our condo!
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