Complaint Review: Pacific Equity Brokers Aka Kevin White Co Inc

My realtor contacted this company and spoke to a Nelida "Nellie" Cortez about buying a property on Beach St. in Bellflower, CA.  He asked her what it would take to purchase the home. She said it would be 10,000 over the asking price and to pay all closing cost.  The house was advertised as FHA approved.  My realtor found out that it was a flip and the rules for financing with FHA was that the owner of the flip had to own it for 90 days before FHA would finance the loan. Nellie did not know this. The owner had it for only 30 days.

We had a verbal agreement that they would hold the house  until it was available for FHA financing.  We agreed that we would not look for or put any more bids in for homes.  We both agreed on a good faith letter for the deal.  Our realtor faxed over a letter and we waited for her to respond. She said she was showing it to the owner. We found out 2 weeks later that they actually took another bid.  Mostl likely they were not going to say anything until that loan went through.  We wasted two weeks in our process of looking for a home. 

I would not do business with this company expecially with Nellie.