Rachel Fay A Real Estate Whom I Feel Is A Untruthful Real Estate Agent That Loves To Flip Homes Misleading untruth full and did not want my wife to see what she wanted me to sign. ripoff Phoenix Arizona
The Following Rip Off Report is my feelings, my opinion, and all of this has been reported to the Arizona State Board of Realtors.
DETAILS OF COMPLAINT
1.In early August 2004, I met Rachel Fay near a home that I owned at 3449 East Poinsettia Drive in Phoenix, Arizona (the "House").Ms. Fay was noting information on a house for sale in the same neighborhood.I inquired if she was looking for a house in the area, and she said she was looking for a house for her husband's brother who was moving to Phoenix.
I told Ms. Fay that I was getting ready to put my House on the market and asked her some questions regarding market prices and how well homes were selling in the area.She did not want to talk about the market, she did not want to talk about the kind of money home owners were getting. I feel that she did not want to help be at all.
Ms. Fay Did not respond the way one would think a Realtor would respond. You would think that she would have shown some thoughts of trying to get me to list it. No, seemed like she had thoughts of doing what many Realtors are doing. Flipping it. Ms. Fay asked if she could look at the House.I told her we were in the process of remodeling, but that she could look at it.
Ms. Fay looked at the House and asked me what price I was asking.I told her that I needed some more info as to what other home owners were getting for their homes in this area. She did not want me to be an informed home seller. She did not want me to learn any info about the local Real Estate Market at all!
Ms. Fay said she would be interesting in buying the House in "as is" condition provided I would leave all the materials purchased for the remodel.She then said her husband would need to look at the House to see if it would work for his brother.Later that same day, Ms. Fay's husband looked at the House, and she called me to say she would offer $145,000 for the House.
She told me that she had another home that she was looking at and told me that If I wanted to sell my place to her that I had to give her a answer in 24 hours. I feel she put that 24 hour limit on her offer so I would not have time to do any market research.
I talked the offer over with my wife, and countered with $150,000 Ms. Fay accepted the counteroffer.Ms Fay brought me the purchase contract, which included some extra items she wanted to include. My wife and I reviewed the contract and agreed to sign it.
Make note that Ms Fay tried to get me to sign the contract before my wife got a chance to read it. I told her that I was NOT going to sign it until My wife and a reviewed it together.
She kept repeating many times that My wife's signature was not needed because she was not on the deed as an owner. I had to repeat many times that I WAS NOT going to sign it before my wife had a chance to review it.
Funny how Fay wanted her husband to see everything that she had plans to sign before she signed anything!
After the escrow was opened and Ms. Fay was working on obtaining her financing for the purchase, the bank required an appraisal on the House.Ms. Fay told me that she NEEDED TO PRESENT at the House during the appraisal.When the appraisal guy got to my home to appraise the home Rachael Fay and he went behind my home and had a little chit chat. I feel that she got him to low-ball the value of my home. Yes, my home did need some work and some landscaping.
One would think that her having a chitchat with the appraisal guy while he was trying to set a value to my home would be unethical to say the leased. I hope that the AZ State Board of realtors feels the same way!
Ms. Fay contacted me after the appraisal and said the House only appraised at $140,000.I told her that I was selling the home because I had already opened escrow on the purchase of another home, I felt pressured to take the $140,000 purchase price instead of the mutually agreed upon $150,000.The sale went through for $140,000.
On approximately Sep 5, 2004 I drove by the House
and there was a real estate sign in the front yard advertising it for sale. A NORTH SCOTTSDALE real estate agent has told me that the listed price for the House was $186,500.she also told me she sold it for $182,000 on 9/1/04
I found a NORTH SCOTTSDALE Realtor that has been helping me get the needed info to help me with my research. I will not mention her name because I do not want her name on the Rip Off Report. She and Fay both like to work for the same Real Estate Office. I told my informant I would never tell who she is. If you read this MY FRIEND, Thanks for your help!
I have requested that the Arizona State Board of realtors investigate Ms. Fay with respect to the following questionable practices under Arizona statutes:
(a) Ms. Fay is a licensed real estate sales person and did not disclose this on the purchase and sale agreement as required by the rules of the Arizona Department of Real Estate; in fact, she represented to me that she was buying the House so her brother-in-law could rent it from her. UNTRUTHFUL lies to take advantage of me.
Doing some research on the net I find that she has been working in the area of House that I regretfully sold to her for some time, buying and selling homes.These transactions should be investigated to determine whether Ms. Fay engaged in unethical conduct in these transactions. I also have talked to some state officials and they have plans to review her actions and take a look into her relationship with others in the industry.
I also had a chat with the guy who bought my home from her. He told me that the 220 volt dryer receptacle did not work and that he had to pay almost $800 bucks to have it fixed. He said that she told him that I might have cut the power lines so the dryer receptacle would not work!
I never used the dryer on a 220 volt system. my dryer ran on 110 and natural gas. I never checked to see it was working or not. When I bought the home I bought it AS IS and when I sold it I sold it AS IS.
Rachael Fay had a home inspector come through that home before the deal was a done deal and check to see what did and did not work. I mean a COMPLETE home inspection. I never got to see the home inspection documents so I have no clue what they found. I am willing to bet that Rachael Fay knew that the 220 volt dryer receptacle did not work. I am sure that a professional home inspector would have noted that the 220 dryer recep did not work.
Maybe Rachael Fay did not disclose to the buyer what did and did not work. Maybe she did not want to pay to have it fixed.
I FEEL that the new home owner should go after Rachael Fay for the $800 repair bill. I never used the dryer on a 220 volt system. My dryer ran on 110 and natural gas.
I was told that she said him that I might have cut the power lines to the dryer receptacle. Note to the nice guy who bought my old home. Go after Rachael Fay for the $800 repair bill. She did know what worked and what did not work. She got copies of the home inspection.
I FEEL Ms. Fay's conduct in this transaction has the appearance of unethical conduct. A copy of the purchase and sale agreement has been brought to a local state agency to be reviewed. I also have this transaction being reviewed by some people that that have the power to take legal action if they find any laws that have been broken.
Mobile
(480) 227-9238
Office
(480) 948-5554
Fax
(602) 485-4530
Email:
RachelFayWUSA@aol.com
She works at a West USA Realty office in Scottsdale AZ
On Her web site she says
"Focused On What's Important To YOU"
Comparable Sales in Your Neighborhood
I am YOUR Realtor
I feel Fat Chance she was"Focused On What's Important To me"
Doing some research on the net I find that she has been working in the area of House that I regretfully sold to her for some time, buying and selling homes.below is the proof.
http://recorder.maricopa.gov/recdocdata/Frame2.asp?PageName=GetRecDataPgDn&rec=0&nm=Fay%20Rachel%20&sar=UnOfficial&bid=&bdt=1/1/1983&edt=10/25/2004
&cde=&set=250&lnk=1&bsw=TRUE&basket_id=&shopper_
Id=&usr_Email=
To all home owners before you sell your home to a Real Estate agent, do your self a big favor and pay a lawyer to have all documents checked over real good before you sign anything that a realtor many stick infront of you. Also pretend that you are looking for a home in your area and call up a different Realtor and act like you want to buy a home that has what yours has. See what that Realtor comes up with.
Many Realtors are EX-CAR sales people. They only think as to how much of your hard earned money they can TAKE!
I Love Ripoffreport.com :) My attorney is looking over all doc's and he said if he finds any deceptive ways or finds any laws that have been broken he will take action!
Stick
Phoenix, Arizona
U.S.A.
Click here to see Rip-off Reports filed where consumers say thank you Rip-off Report & badbusinessbureau.com, that we saved them money. Not included are the thousands of thank you e-mails we get every week.
6 Updates & Rebuttals
Stick
Phoenix,Arizona,
U.S.A.
I have a problem with people that want to lie just to make a fast buck.
#7Consumer Suggestion
Mon, December 13, 2004
Susan you seem to not like what I posted. I have a problem with people that want to lie just to make a fast buck. I am not a real estate agent. I do not have industry inside info as to what a home is worth. I agree that the home that I owned needed some work.
My problem is the lies that I was told. The now home owner told me Fay told him that I cut the power cords to the 220 volt cord to the dryer.
She wanted me to sign a selling contract behind my wife's back. She kept telling me that I did not need my wife's signature because my wife was not on the deed. Why would an agent not want my wife to see what she wanted me to sign?
Was real funny how she wanted me to sign it REAL FAST!
Sure seems funny that she wanted her husband to see all documentation that she had plans to sign before she signed anything.
Why is it that she insisted on being at the home to have a chat with the appraisal guy when the home was about to have a market value placed on it?
Maybe she wanted him to low ball the value on the place, Then cry that she was not going to pay the amount in the contract and hope that I would sell it for less!
I now know that a home seller should NEVER sell their home to an agent. Agents might have an inside scoop and have plans to flip it and grab some equity that the home seller did not know they have.
I contacted the people at http://www.re.state.az.us/ they said no biggie as to my complaint.
It's OK for an agent to try to get doc's signed without both parties involved.
It's OK that an agent to have a behind the house chat with the appraisal guy before buying a home from a seller after a contract has been signed!
It's OK that an agent tell a few fibs when trying to buy a home from a seller.
It's OK that Fay did not disclose on the purchase and sale agreement in writing that she was an agent as required by the rules of the Arizona Department of Real Estate!
What's up with all of these OK's?
She represented to me that she was buying the House so her brother-in-law could rent it from her. Had I known that she had plans to flip it I would have known that I was leaving money on the table!
I should have ripped the contract she wanted me to sign in half and hand her a piece of it and should have told her to bug off!
To all home sellers:
Before you agree to sell your home to a real estate agent call many other agents and act like you want them to list it. Ask them what would they do to market your home and what are the comps in your area. Treat them like FREE labor and ask them to do all kinds of homework for you. Ask them to show you what they would do to sell your home. Run them all ragged like a used car salesman and then kick them to the curb!
Find an agent that only wants to list it not one who wants to buy it from you. I feel if an agent wants to buy a home from a seller they are only buying it because they have plans to "Flip it" and grab some cash that the seller does not know about!
So much for an industry being regulated!
Susan in Phoenix, Arizona you ask if I handle the family finances! Yes, I do. I am willing to bet I have a higher FICO score then you do. I am willing to bet that I am in a much better financial situation then you are. What kind of sled do you drive around when you go out to play the real estate game? Do you make car payments? I don't.
I just screwed up by selling my home to an Agent. I should have fixed up the place and sold it to a person that was NOT in the real estate industry.
Again, so much for an industry being regulated!
Susan
Phoenix,Arizona,
U.S.A.
Protect your Investment
#7Consumer Suggestion
Sun, November 28, 2004
This scenario is not a new complaint. I am an ethical, experienced realtor and I have heard this same story with variations ever since I started in the real estate business 15 years ago.
It still amazes me that people like 'Stick' can be so careless when it comes to their biggest asset, their home.
Number 1, from your own statement, your first conversation with Ms.Fay was asking her about the market conditions in your neighborhood, so she must have introduced herself as a real estate agent. You were aware of that fact from the beginning.
Number #2, You had already opened escrow on another house, so you were in a hurry to sell your house, even though as say you were in the midst of remodeling and "the house needed some work and landscaping".
Number 3, Ms Fay stated her intention of buying your home. That means she was representing herself in this transaction, not you.
Number 4, It appears that you considered yourself competant to purchase a home without professional advice or representation and you also considered yourself competant to sell your house without advice or representation.
Let's do the math here, you thought you were cheated out of $42,000, That's 30% of your home's value. Realtors advertise their professional services at 4-7% of a home's selling price. So, if you had the sense to hire a professional to advise you, market your home, and represent your best interests in the transaction, would you have been way ahead? DUH? and DUH!!!
Sour Grapes, "Stick", Bet now you regret you were too cheap to pay for advice. Now you would rather pay a lawyer!!!
Note to Mrs "Stick"--You handle the family finances!
Susan
Phoenix,Arizona,
U.S.A.
Protect your Investment
#7Consumer Suggestion
Sun, November 28, 2004
This scenario is not a new complaint. I am an ethical, experienced realtor and I have heard this same story with variations ever since I started in the real estate business 15 years ago.
It still amazes me that people like 'Stick' can be so careless when it comes to their biggest asset, their home.
Number 1, from your own statement, your first conversation with Ms.Fay was asking her about the market conditions in your neighborhood, so she must have introduced herself as a real estate agent. You were aware of that fact from the beginning.
Number #2, You had already opened escrow on another house, so you were in a hurry to sell your house, even though as say you were in the midst of remodeling and "the house needed some work and landscaping".
Number 3, Ms Fay stated her intention of buying your home. That means she was representing herself in this transaction, not you.
Number 4, It appears that you considered yourself competant to purchase a home without professional advice or representation and you also considered yourself competant to sell your house without advice or representation.
Let's do the math here, you thought you were cheated out of $42,000, That's 30% of your home's value. Realtors advertise their professional services at 4-7% of a home's selling price. So, if you had the sense to hire a professional to advise you, market your home, and represent your best interests in the transaction, would you have been way ahead? DUH? and DUH!!!
Sour Grapes, "Stick", Bet now you regret you were too cheap to pay for advice. Now you would rather pay a lawyer!!!
Note to Mrs "Stick"--You handle the family finances!
Susan
Phoenix,Arizona,
U.S.A.
Protect your Investment
#7Consumer Suggestion
Sun, November 28, 2004
This scenario is not a new complaint. I am an ethical, experienced realtor and I have heard this same story with variations ever since I started in the real estate business 15 years ago.
It still amazes me that people like 'Stick' can be so careless when it comes to their biggest asset, their home.
Number 1, from your own statement, your first conversation with Ms.Fay was asking her about the market conditions in your neighborhood, so she must have introduced herself as a real estate agent. You were aware of that fact from the beginning.
Number #2, You had already opened escrow on another house, so you were in a hurry to sell your house, even though as say you were in the midst of remodeling and "the house needed some work and landscaping".
Number 3, Ms Fay stated her intention of buying your home. That means she was representing herself in this transaction, not you.
Number 4, It appears that you considered yourself competant to purchase a home without professional advice or representation and you also considered yourself competant to sell your house without advice or representation.
Let's do the math here, you thought you were cheated out of $42,000, That's 30% of your home's value. Realtors advertise their professional services at 4-7% of a home's selling price. So, if you had the sense to hire a professional to advise you, market your home, and represent your best interests in the transaction, would you have been way ahead? DUH? and DUH!!!
Sour Grapes, "Stick", Bet now you regret you were too cheap to pay for advice. Now you would rather pay a lawyer!!!
Note to Mrs "Stick"--You handle the family finances!
Susan
Phoenix,Arizona,
U.S.A.
Protect your Investment
#7Consumer Suggestion
Sun, November 28, 2004
This scenario is not a new complaint. I am an ethical, experienced realtor and I have heard this same story with variations ever since I started in the real estate business 15 years ago.
It still amazes me that people like 'Stick' can be so careless when it comes to their biggest asset, their home.
Number 1, from your own statement, your first conversation with Ms.Fay was asking her about the market conditions in your neighborhood, so she must have introduced herself as a real estate agent. You were aware of that fact from the beginning.
Number #2, You had already opened escrow on another house, so you were in a hurry to sell your house, even though as say you were in the midst of remodeling and "the house needed some work and landscaping".
Number 3, Ms Fay stated her intention of buying your home. That means she was representing herself in this transaction, not you.
Number 4, It appears that you considered yourself competant to purchase a home without professional advice or representation and you also considered yourself competant to sell your house without advice or representation.
Let's do the math here, you thought you were cheated out of $42,000, That's 30% of your home's value. Realtors advertise their professional services at 4-7% of a home's selling price. So, if you had the sense to hire a professional to advise you, market your home, and represent your best interests in the transaction, would you have been way ahead? DUH? and DUH!!!
Sour Grapes, "Stick", Bet now you regret you were too cheap to pay for advice. Now you would rather pay a lawyer!!!
Note to Mrs "Stick"--You handle the family finances!
Bob
Albuquerque,New Mexico,
U.S.A.
she does sound quite unethical to say the least
#7Consumer Comment
Sun, October 31, 2004
I am not defending Ms. Fay's actions in any way. You are right to go to the Board of Realtors and possibly criminal activity.
But,
1. You accepted the offer and sold the house for $140,000 without, apparently, even talking to to another realtor or even checking the internet sites like realtor.com or something similar to see what house prices are in your neighborhood.
2. Why didn't you get a 2nd appraisal but not tell her about it?
3. Then Ms. Fay sold the house for $182,000. I am unclear on one thing here. You were doing work on the house and you sold it 'as is' so Ms. Fay bought it. How much money was put into it to make it more salable? How much went for commissions?
The problem about the dryer is at worst Ms. Fay's responsibility. Ms. Fay sold HER house not YOUR house so she is responsible for what she sold, not you. It seems very unusual to go back 2 owners of the house to fix a problem. This probably isn't true but I still wonder, could she be libel for telling someone else something false about you (cutting the power line?)
From your article she does sound quite unethical to say the least but before you sold your house you also had a duty to see what the prices were in your neighborhood. AFTER you sell your house is the wrong time to be seeing what it was worth and complaining about it. Sorry on that point.