Because of the short amount of time before the June 20th closing I went house hunting and found a home in Newberry I liked. I made an offer the owners accepted and obtained a loan and paid for a home and pest inspection. Also, I bought boxes and packed a lot of items in my house in preparation for the move. Additionally, the people I was buying from in Newberry were going through the same process in preparation for their move.
So, if you are selling your home read the contract carefully. Make certain your realtor stays on top of the buyer’s loan process and beware of putting out a lot of money before you are certain the funds are there before you get too far into the process.
Finally, David Padot responded and told my realtor he couldn’t get financing for the house (he was putting 50% down and couldn’t get financing???) and he was cancelling the contract. (NOTE: My realtor offered to help him obtain financing but David Padot never responded). It appeared to me that financing wasn’t the reason he was backing out, just the reason he was using because of a clause in the fine print of the contract. To add insult to injury, he also gets his deposit back and I eat my cost ($1000) and the couple I was buying from in Newberry eat their cost.
Over the next couple of weeks David Padot of Pristine Properties in Trenton requested access to my house several times to take measurements and have an architect look at the house for changes David Padot wanted to make in the interior. I even supplied them with the original blueprints to help them with the process. Everything appeared to progressing normally.
What David Padot did is not illegal but in my opinion it is not ethical especially for a local realtor/broker. I’m certain the clause is in the contract so a buyer who thought they could get a loan and for some reason can’t has an out, it’s not for a buyer who changes his mind and wants to stiff everyone else down the line.
I put my house on the market earlier this year and a realtor/broker named David Padot of Pristine Properties in Trenton made an offer on my house that I accepted. On the buyer’s agreement he stated that he would be putting down almost 50% of the purchase price plus a deposit of $3000. Of course because of the down payment (50%) and the sizable deposit it looked like a good contract and we set a closing date of June 20th.
I want to share a word of warning to anyone out there that may be selling or thinking about selling their home. Please take the time to read your buyer’s agreement contract carefully so what happened to me doesn’t happen to you.
All during this time David Padot of Pristine Properties in Trenton never once gave my realtor or me any indication that there were any problems with the contract or the closing date even though the contract he signed stated he was to keep us updated. My realtor called multiple times but never could reach David Padot and he never returned her calls.
Pristine Properties is a US Real Estate Agency based in Trenton, Florida. Pristine Properties is located at 1431 E Wade St, Trenton, FL 32693, USA.
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