- Report: #457677
Complaint Review: Nick Satel / National Fifty - Tampa Florida
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Nick Satel / National Fifty
3001 N Rocky Point Dr E Tampa, 33607 Florida, U.S.A.
Phone:
866-861.8692
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Nick Satel / National Fifty Loan Scam Artist Tampa Florida
I am writing to warn consumers about Mr. Nick Satel of National Fifty. Mr. Satel is one of many con-artists promising loans to consumers, taking an upfront fee for "travel expenses" and/or "processing fees" and then not following through with the loan and keeping the fee he has received. He came out, from Florida, to view a property we were looking to refinance. This property is almost 3 acres of ocean view property that we have spent the past 4 years getting approved for 9 custom home lots. We have an appraisal that was completed by a bank in March of 2008 that valued the property at approx $7.7 million. Mr. Nick Satel of National Fifty, with all his appraisal experience of CA real estate, valued the property at $3.9 million (less that was the property was purchased for). The broker who introduced Mr. Satel to the project has an independent MAI appraiser, with 20 years experience in the area, appraise the property and she valued the property at $6.9 million. Mr. Satel was forwarded that info and was asked based upon that information would he be able to provide a loan. Mr. Satel has not responded to call or e-mails and I am yet to recieve the refund check he said would be in the mail. I warn you, do not become the next victim of Mr. Nick Satel and National Fifty.
Scott
Cardiff, California
U.S.A.
Scott
Cardiff, California
U.S.A.
3 Updates & Rebuttals
Scott
Cardiff,California,
U.S.A.
Settlement with Nick Satel and National 50
#2Author of original report
Mon, July 27, 2009
I would like to let everyone know that Nick Satel of N50 Financial has worked diligently to ratify our dispute. My post was the result of a major miscommunication, mostly in part from a broker. Mr. Satel was asked by the broker to hold off on canceling our finance request as well as delay the return of my deposit so the broker could attempt to get an appraiser to give a better determination of value on the property. Mr. Satel was following the instructions of the broker who was attempting to save his deal instead of following my instructions to cancel our agreement and move on. We have reconciled this matter and I am of the opinion that Mr. Satel is a man of his word and followed through on his obligation to me and my partner. We hold no further discrimination of Nick Satel or his company.
Scott
Cardiff,California,
U.S.A.
Update on Nick Satel and National Fifty
#3Author of original report
Mon, July 20, 2009
Mr. Satel contacted me and we are in negotiations to settle our matter. I will keep the interested parties here on ROR up to date on this matter.
Scott
Cardiff,California,
U.S.A.
New INFO on Nick Satel
#4Author of original report
Tue, June 30, 2009
In an update to my oroginal post, National Fifty has closed it's doors and is probably going to open up under a different name. Nick Satel stated, 6 weeks ago, that he would return $1,500 to me since he was not able to do the loan. He was keeping $2,000 for "travel expenses". As of today, I am yet to receive the funds so I contacted him, and he acutally hung up on me. Again, I am warning everyone, DO NOT SEND NICK SATEL ANY OF YOUR MONEY. HE COMMITS FRAUD. If you have lost money to Nick Satel, please contact me as I am looking into taking action against. If you need to contact Nick Satel, his new phone number is, 703-340-8577.
