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I have purchased a number of rentals through an organization…

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I have purchased a number...
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: 2 years ago.Category: Real Estate Law
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Answered in 39 minutes by:
1/25/2016
Real Estate Lawyer: WiseOwl58, Lawyer replied 2 years ago
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,595
Experience: Experienced real estate lawyer and real estate broker.
Verified

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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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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