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WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 3620
Experience:  Experienced real estate lawyer and real estate broker.
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I have purchased a number of rentals through an organization

Customer Question

I have purchased a number of rentals through an organization (BuyPD) using my retirement money. One of the homes was sold without a certificate of occupancy. It already had a renter in it. The renter found out about the lack of C of O and has used that fact to live in the house for a year now. I have battled with the organization and the management company to remedy this. It's cost thousands of dollars to do the multiple repairs it needs. I have told BuyPD that I considered this fraud and I want ALL my initial investment back and any monies I've had to contribute to the IRA in order to pay the mortgage payments. Of the 5 homes I purchased, most have had to have repairs that should have been revealed prior to purchase. What can I do. This is my retirement and I'm looking at losing everything. I'm so stressed out I feel like I'm gonna have a heart attack from the stress. I'm 60 years old and want to retire in 5 years. If I cannot remedy this I will be working for the rest of my life.
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  WiseOwl58 replied 10 months ago.

You can either file a law suit against them or make a complaint to the Michigan real estate agent regulators. Here is the form to file the claim online. They have the power to award you restitution and unwind the sale, making the seller reimburse you wholly for the damages that you have suffered. Here is the link to file the complaint online:

http://www.dleg.state.mi.us/bcsc/forms/enf/lce-400.pdf

Once they award you restitution you can rest easy knowing that your retirement is secure and you will be able to retire at 65.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

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