Two weeks ago we closed a Condo located in Pembroke Pines.
The closing went well or at least I thought so.
We represented the seller.
Yesterday, we received a call from the buyer asking me when we`re going to send out a "Rebate Check".
Confused, I explained to the buyer how they determined we "owe them a Rebate Check".
Their explanation startled me and I began wondering "How often" this occurs.
It seems the company who wrote the offer had little or no contact with this person. They sent emails to this client with "MLS LISTINGS" but had little or no contact with them,except when they sent an offer.
The buyer contacted our office to view the home. We showed them the Condo asked if they`d like to view anymore in the area and they told us "No".
That was it, we assumed the Buyer was only looking and left it at that.
Much to our surprise we received an offer 8 days later and remembered the name on the offer.
We sent the offer to our seller, they signed the offer and we faxed the "Executed Contract" to the Buyer`s Agent.
Our job as a Single Agent was completed at the "Closing Table" .
The seller was ecstatic,everything went off without any hassle.We dealt with the buyer`s title company and had no real contact with the Buyer`s Agent.
Apparently, nobody remembered to go over the HUD-1 statement with the buyer,the buyer assumed they would be compensated by the Seller`s. Go figure.
The conversation is as follows:
Buyer: I`d like to know when I`m going to receive our 1.5% rebate check from your company. It`s been two weeks.
Me: Rebate Check? How do we owe you a rebate?
Buyer: Aren`t you the people who showed me the Condo? I thought the check comes from your company.
Me: Why would assume that?
Buyer: Well, huh, I can`t find the other company who we worked with.They don`t return our calls.
Me: To be honest with you, we have no idea what was promised by the "Rebate Company". I suggest you send them an email.
Buyer: Oh! I`ve sent several. I`m concerned now. I thought the Agent who sold the property gives us a percentage of the commission, isn`t that how it works?
Me: Why would I give you anything? We represented the seller.
Buyer: We bought the Condo from you.
I was at a loss for words. I suggested the Buyer contact an attorney and seek legal counsel.
Dealing with companies who promise Rebates make little or no sense, especially when you`re unable to find them after the Point of Sale.
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