Is this a con-artist spammer? Sure looks like it. My ancestors are more likely to be vinyard owners than oil magnates. Actually, when I went to Italy, the DellaLoggia stores were fine jewelry stores. The kind where you have to be “buzzed” in with locked doors. And what are the odds that a “DellaLoggia” is going to have the first name of “Randolph”. Sounds like a fill in the blanks spam mail. They could at least have used Cosmo or Guido or Guiseppe.
We all get tons of emails like this every day. But this one makes you stop a sec. Creative to say the least. Possibly illegal, as in “impersonating an attorney”. “Solemn Confidentiality” is a clue that he’s doing something wrong…don’t ya think? If I’m an heir…why is that a big secret? I spent too many years in the Trust and Estate business to buy that one. I think it means don’t let anyone know I’m an illegal scammer please.
What would you do with it? Where do you think it is going if I emailed him back and let him fax stuff to me as he requested?
Thomas Lucas & Co
26-27 Cannon Street,
London EC4M 5SE,UK
Phone:+44 79 5191 5337
Dear Ardell DellaLoggia,
This is a personal email directed to you and I request that it be treated as such.
I am Thomas lucas, an attorney at law.
I am the personal attorney/sole executor to the late Mr Randolf D. DellaLoggia, hereinafter referred to as ‘my client’ who worked as an independent oil magnate in my country and who died in a car crash with his immediate family on the 4th of oct, 1998.Since the death of my client in oct, 1998, I have tried to locate any of his extended relatives whom shall be claimants/beneficiaries of his abandoned personal estate and all such efforts have been to no avail. Moreso, I have received official letters in the last few weeks suggesting a likely proceeding for confiscation of his abandoned personal assets in line with existing laws by the bank in which my client deposited the sum of 3.8 million U.S.D.
On this note I decided to search for a credible person and finding that you bear a similar last name, I was urged to contact you, that I may, with your consent, present you to the “trustee” bank as my late client’s surviving family member so as to enable you put up a claim to the bank in that capacity as a next of kin of my client.
I find this possible for the fuller reasons that you bear a identical last name with my client making it a lot easier for you to put up a claim in that capacity. I propose that 35% of the net sum will accrue to me at the conclusion of this deal in so far as I do not incur further expenses.
(Oh, no!! He used the “D” word. Since when does an attorney have a “deal”?)
Therefore, to facilitate the immediate reprofiling of this fund, you need, first to contact me via this email signifying your interest and as soon as I obtain your confidence, I will immediately appraise you with the complete details as well as fax you the documents, with which you are to proceed and i shall direct on how to put up an application to the bank.
HOWEVER, you will have to accent to an express agreement which I will forward to you in order to bind us in this transaction.
Upon the reciept of your reply,I will send you by fax or E-mail the next step to take.I will not fail to bring to your notice that this proposal is hitch-free and that you should not entertain any fears as the required arrangements have been made for the completion of this transfer.
Like I said, I require only a solemn confidentiality on this.
Best regards,
Thomas lucas,
Partner Corporate & Fiduciary Group.
As a Trust and Estate Officer, I did once have a monstrous file on a huge line of potential heirs of mineral rights that went on for many, many years. Got to the point where everyone was going to get $1.76. What a pain in the neck account that was. So it’s possible. Likely?
In case you see this “Attorney Lucas”, you will find the heirs in this Country had the name changed inadvertently to DeLoggio and I corrected it back to my Grandfather’s name in Court. So look for all of the DeLoggio’s, though I could give you a list.
Then go see if Robert Loggia took the Della off the front, when he went into acting 🙂
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Ardell,
I completely agree with you on this. Allow me to compare real estate brokerage to securities brokerage. Elliot Spitzer made securities firms disclose their interests in a particular offering (which reflected their bias). That didn’t make the offering any less attractive (or unattractive), it just made the bias transparent.
Don’t you think that ought to be disclosed in this case? Perhpas the builder should disclose that they offer a 3% fee to a licensed agent or will add it on to the incentive package. They should further disclsoe that they have no fiduciary resposnibility to the buyer; they are just representing the seller as their exclusive agent.
What do you think the result might be? Would people use agents? If they opted against the agent, would they in essensc proceed as a “truly informed consumer”?
As for buyers, I think if the builder is willing to pay an agent 3% then the 3% should be on the table. I feel the same way about listed resale property. If it’s in the price, it’s in the price.
Do you think people use agents now because they somehow “have to” and given the option they wouldn’t? Maybe. But I still think they should have the option. and the fee should be negotiated between the agent and the buyer and not the builder or seller’s profit if they don’t have an agent. Maybe not all of it, but most builders offer something extra.
At least a buyer will know by reading this that they lose something by not have an agent, in some new construction sites. By providing an on side “buyer’s agent”, they didn’t give the buyer a choice. But is a “buyer’s agent” supposed to be a “closer” who doesn’t compare all options in the marketplace? I don’t think so.
ardell where is this new construction?
ardell, where is this new construction? which city and which general location?
That is a classic 419 scam. I’ve been seeing them lately in the form of unsolicited “job offers”.
Ardell,
Wow you are bringing up a lot of things in this problem just from my reading here, first is agency, second is offering the general consumer based on equal basis, disclosure and consumer rights. What really bothers me is the possibility of steering.
In Michigan it is allowed for an employee of the builder to sell real estate with out being a licensed real estate agent, however they still must adhere to Federal Fair Housing Laws. Also there is some slight difference in disclosure and agency. I am not sure how it works in Washington State.
I do know that the sale of real estate residential property shares a common area with commercial business practice and that is all business relationships do not have to be treated on a fair playing field when making or accepting an offer or pricing/payment fees for a product or service. In other words as a business I can charge each of my customers different prices for the same service or goods.
Builders are a business and as such can offer different terms on an offer. The question is are they offering different terms based on what terms. Unlike a store with product on a shelf for the general consumer to pay all the same price at the same time, a builder does not have to offer the 3% to each buyer. I would if I was the builder just to make sure that I was not accused of offering only to a certain customer because housing is different then general store stock, if you understand what I am saying. Is it required for builders to be that way in Washington State?
As a builder developer who owns property, as part of the bundle of rights they have the right to sell or not to offer for sell as all property owners do in most cases. Is unavailable the same as “not offered for sale”?
What bothers me is that in a normal residential sale the same owner does not own the competing properties and therefore the market encourages an open and at arm’s length transaction with out the risk of steering. In other words, because I the seller do not own the rest of the properties in the neighborhood I cannot dictate who ends up buying for one reason or another and received a price that the market was willing to pay.
As a builder developer who owns property as a whole with in a development and is not honestly disclosing that all properties are in fact for sale what is the motive at hand, no one knows for sure and at the same time to be honest. By listing only a couple of properties as available as a single property owner I would guess that they are exposing themselves to a lot of potential liability.
If they want to sell one lot over the other that bad then they need to offer a large discount as an incentive to the whole of consumers. Or they need to charge a higher price based on something that make the other “unavailable
Shane,
I really don’t have a clue what you are talking about. How does only offering two lots of many involve steering and HUD? That’s a stretch.
I am just wondering if the houses are not on the table because the city hasnt as yet issued permits for them and approved plans? I know of one builder who releases lots in small numbers and has been building many homes in redmond now in the education hill area. True, this does totally squeeze buyers. I would be interested to learn a couple of things: 1. location of the electrical towers in relation to the lots currently on sale from your observation. this can have serious health ramifications as far as I know from my reading. 2. Which city this is located in: redmond? 🙂 then i can almost guess who the seller is 😉
Ardell,
I am sorry I misunderstood, as only two lots being marked as available only and the rest not marked as sold but still not sold.
Sandy,
I am rather bold in revealing what consumers should beware of in the market place, but I’m sure you can appreciate that I can’t point directly at which development I was in. New construction “close in” is not all that abundant, especially those with lots of lots available. I basically work both sides of the 520 bridge and around the North end of the Lake and over to Lake Sammamish on the Bellevue side.
I will be checking out more of the new construction in that area. My guess is if they have a Buyer’s Agent and a Seller’s Agent in the room, they are probably doing the same thing. Maybe someone should ask the buyer’s agent if they can show other property that isn’t that builder’s. That would be a clue that they are not really a “Buyer’s Agent”, if they can’t show comparison properties that do not belong to that builder.
When did “Buyer’s Agent” become a meaningless label?
I understand Ardell. Thanks for the posting. I agree completely that this is really ridiculous.
Shane,
Correct. Steering is something else entirely. But I think I know where you are getting at. Like someone who knows someone might be able to get one of the better lots, as my client would as I pressed further, but those who walk in off the street are compelled to buy only the two with available tags. Kind of sticking the unrepresented buyers with the worst lots. Is that what you mean?
Sandy,
My biggest concern with the towers is the “Eiffel Tower House”. On resale when there’s an mls photo with the “Eiffel Tower” in the back of the house, it is almost impossible to sell. The biggest problem with new construction is the best lots are great, but the worst lots do not discount as severely as buyers of resale will discount them when they try to sell a poor location.
We talk a lot about who is going to lose money if the market goes flat or down. The person buying new construction without paying attention to resale value of the home, are the ones who always get hit the hardest. People will buy new almost anywhere. But they forget when they go to sell it…it won’t be new anymore. Just a house in a bad location.
P.S. I know you are a good guesser 🙂
Ardell, well said. I find your posts extremely useful in terms of content and refreshing in terms of how candid they are.
Absolutely I hear you regarding the power towers. Thats is an absolute no-no regardless of how close it is to the “zone” or how in the “zone” it is. It has some serious health effects.
Ardell,
Yes, Sticking… that is what I ment should they have walked off the street. I liked what you were saying about “Good Agent” and “Bad Agent”, something not right there.
Okay, …I’ve worked at a couple new construction sites as the “buyer’s agent” before and my experience was vastly different than what you described here.
A few things from your description that I do find odd as well…. The guy claimed to be the agent for the seller (aka the builder) and the lady was the “buyer’s agent.” In my experience, the listing agent (in this scenario the guy) does not hang out and work the floor. As the listing agent, he should be the most knowledgeable person in the room of the competition around them. Maybe he didn’t want to tell you of other places which would be more places for you to direct potential clients and that’s why he acted dumb. Poor business practice in my opinion. Something you’d do if you didn’t believe in your product vs the competition.
Now, …as the on-site buyer’s agent. In my personal experience and the experiences I’ve heard from other agents who’ve done this… the whole purpose of it is to try and capture the people who come in without an agent. In my circumstance, I was not paid for my time there. Other situations, the agents may get paid a nominal door fee for each house that sells regardless of who the selling agent is …kinda as a thank-you for being there…(this door fee could be anything like a hundred bucks or more…nothing you could live off of). My particular situation..there was no door fee. Buyer walks in off the street without an agent, …if they were interested in buying and I was able to represent them in the deal…I’d get the SOC. There are times where it is beneficial (if you aren’t represented) to use an on-site agent vs going out and finding another agent. The on-site buyer’s agent *should* be more knowledeable about the homes, knows the ins and outs of the builder and have built up working relationship with the builder and thus they would bend a little more for you. Other times, the on-site agent is just there on a whims notice and knows nothing about the homes. But… …again … at least in my situation…. just cause the buyer is unrepresented, doesn’t mean all of a sudden now there’s 3% available to the buyer. If the on-site buyer’s agent was a paid employee of the builder, ..then there’s a conflict of interest since the on-site buyer’s agent cannot work for the buyer to the buyer’s best interest. …so I’m assuming that most agents that call themselves the on-site buyer’s agent…is not an employee of the seller/builder. They may be from the same agency of the listing agent, but they should still each be representing their side. Now if the buyer who comes in without an agent …doesn’t want to be represented, …builder may require them to use the on-site agent. Builder/listing agent may not want to work with a solo buyer. It will be difficult enough to work with a ton of different …hopefully professional agents …let alone a solo-buyer who will potentially need a lot of hand holding. In that situation, then it’s between the on-site buyer’s agent and the buyer to negotiate any rebates.
Ok…the guest registry. Most new construction sites will have a registration policy. This is designed mostly to protect the on-site buyer’s agent. Here’s the situation. Buyer walks in off the street. On-site agent shows them all the different models, talks through the upgrades and lot choices, etc. Buyer leaves, comes back with spouse to look through everything again. Leaves..comes back again however many times. Buyer finally decides he likes what he sees…leaves, writes the deal with some other agent. Now, ..the most-likely-unpaid-buyer’s agent showed the homes, …basically sold them the home, and another agent gets to collect the SOC. That’s bad business as the builder who depends on these site-agents to staff the site. Registration policies are all similar, ..it’s some variation of the point that if the agent writing up the deal wasn’t involved in showing the house at some defined point in the early goings (sometimes sites will allow an unaccompanied first visit), then the commission to that agent is drastically reduced. I’ve seen it typically down to 1% but i’ve seen it as low as …i think 0.25%. (might have only been 0.5%), but anyway, you get my point. The balance would be paid to the on-site agent. You are incorrect in that the buyer doesn’t have a choice if there’s an on-site agent. An agent can register their client in person or over the phone or the buyer can register their own agent when they’re there. That was the majority of the case. I’d be happy to still help show the homes, but if the buyer keeps coming back day after day with questions and showings, …I do have to draw a line somewhere and recommend they have the agent they registered come with them.
The part about only showing two lots available when a bunch of other lots have no sticker showing sold or available. This is called a phased release. Phases could be big chunks of a dozen lots or small like a lot or two. For a $700k house, ..my guess is the phases aren’t too big since it’s not common to crank through $700k houses. It’s ..in my opinion…a builder tactic to control the development. The incentive to buy early in a development is usually they are priced lower. The side-effect is…you may not get the best choice of lots. Trade-off. Buy lower price and get so-so lots…. or buyer later at higher price and take a shot at a better lot. In my experience…builder didn’t even have permits yet for the “unavailable” lots …often didn’t even know what floorplan was going to go on there. I was given a one week heads-up in the development i was at of just where the next phase was gonna be. So… don’t know about Ardell’s situation, quite possibly the whole thing is shady like she described (i’m still scratching my head at how dumb the seller/builder’s agent acted), but usually ….there is a reason for the builder’s insanity. Oh… another reason for a phased release is money. Builder can only build X number of homes at a time and get them sold before bank will lend them more money to build the others. The big big builders..this isn’t a problem …some smaller builders or newer builders ..this is definitely the case. To some extent, ….yes….no stickers means it’s available…but to be more precise…it means it WILL be available. ..just not right now.
Lastly, … the on-site buyer’s agent is trying to sell people a house in the development. If the homes there aren’t what the buyer wants, and if the buyer really is unrepresented…now you have a lead ..and the secondary goal is to see if they’d still work with you…afterall, you are still an independent agent. ….So I disagree with your statement that by providing an on-site buyer’s agent, they didn’t give the buyer a choice. Buyer always has a choice…just have to follow a simple procedure of registering who you’re working with.
So how do you avoid the supposed situation that Ardell ran into. Easy, …with any new construction development …1) ask about the site’s registration policy and follow it. 2) ask the person staffing the site who are they representing. A builder may have a listing agent that staffs their own site..this would be likened to a listing agent hosting an open house for their own listing. 3) if you have an agent, let them know ..no need to be shy about it. If the on-site agent pressures you to use them, (which is just sleazy practice in my opinion), ..stay your ground. or if you want to avoid any awkwardness, schedule a time with your agent to go look.
I had 9 clients that bought new construction last year and I previewed and/or showed at least a dozen more and none of them were as you described. All the sales staff…whomever they represented…were all very professional and very happy to work with me. Likewise, when I was working a site, I’d be just as professional with agents coming in. Although, I’d be a little bit put off if the first thing out of your mouth was a veiled accusation that we’re trying to hide the power lines since they aren’t on the map. I didn’t make the map. Sorry, maybe I’m reading your telling of the exchange in the wrong way. But, …however you asked it…as the site-agent..I am representing the development and thus should remain professional at all times.
People like new, Sandy. And the only place there is land is somewhere that no one wanted to live before, like under the electrical easement.
There are many studies that say this is safe depending on what type of lines they are. Some give you reports that say living there is like sitting too close to the TV 🙂 Hey, cell phones were supposed to kill us off long ago.
I worry more about the resale value. But people will buy a new house just about anywhere.
dang! ..10 posts popped up from when i started my post and when i finished it…
Ardell…your “check” to see who the on-site buyer’s agent really is representing is perfect. If they are employed by the seller/builder, then they cannot / should not be calling themselves the buyer’s agent.
What seemed odd James, is that the young couple in the room were talking to the guy when I walked in, and the woman was off in a side office. If she was a “buyer’s agent” and he was the “seller’s agent”, why was he doing all the taking when I walked in? I think she is the closer and because she writes the contract, she calls herself a “buyer’s agent” and steps in when it is time to write the contract.
Question is are there older homes near this electrical easement or lines or towers? Or is this tower/lines etc bang in the middle of the new construction.True though new is attractive, even to me. This is because many of the resale homes are very old, some times shoddily upgraded too with a high asking tag. Now that is bad……
Ardell, yah in that scenario, …would seem as you said, the other person as the closer. What I wanted to point out is …from my exposure in previously working new construction and representing buyers of new construction …what you ran into is (hopefully) the minority. …althouuugh, i haven’t walked into a new construction sales office as a buyer yet. Perhaps they don’t pull that scheme cause i’m either with my buyer or I introduce myself as an agent right off the bat. Hmm..very curious, ..maybe time to send in some “undercover” buyers to see how prevelant this practice is. I know at least 4 builders in Snohomish county that does NOT practice that kind of sales tactics.
Ardell…
419
If you are bored and want to have some fun with it…play along…by doing so you are wasting his time and preventing him from just moving along to the next victim…however…do so at your own risk.
If you are interested…the site 419eater.com will show you how people actually have made a cybersport out of “scambaiting” as it is called.
I have heard that some developers offer “buyer’s remorse” clauses where the buyers get a refund of any price changes in an equivalent house over a period of time. I’ve only read about these in news articles and I do not know if they actually exist.
If a developer is offering these clauses (because it makes the decision to buy easier) then they have a very strong incentive not to negotiate away $21k because then they have to pay that $21k to all of their other previous customers.
Instead they offer “free upgrades” or “new cars” for the same price of the rest of the houses in the development.
I’ll stay out of the commission part of it and focus on something else.
This builder is trying to artificially control supply and demand. In a way…he is acting as a mini-cartel. Think about diamonds. The only reason they are so expensive is that there is a controlled supply. DeBeers is quite powerful and basically are a cartel in a way. There have been many instances throughout recent history where both Australia and Russia threatened to flood the world with diamonds…DeBeers put a stop to that from what I understand.
So…basically…you don’t have a choice…if you want a diamond…you are going to pay through the nose for it…there are no alternatives. (don’t bring up CZ…lol)
In this case however…there are different builders…and different lots.
It seems similar with some of the Downtown condominiums also.
some of it may be due to the city regulating the approvals of plans etc like james outlines. but yeah builders arent saint 😉
James – Post 15
Thank you because I found your post to be educational and full of possibility that I did not think about. I was thinking on a bigger builder scale and did not even think about phases. I will make a mental note of that for future reference. I agree with your views on agency and disclosure.
Hats of to Ardell for this learning experience!
one quick question about a quote from James – Post 15
“The incentive to buy early in a development is usually they are priced lower. The side-effect is…you may not get the best choice of lots. Trade-off. Buy lower price and get so-so lots…. or buyer later at higher price and take a shot at a better lot.”
How long could this person potentially sit there in a lone house before others are built….and during this time even after another house or two is built…how would this affect resale value if the person needed to relocate and by this time there were only two or three houses on the land? It would seem like a ghost town to me.
I remember my cousins Terry and Terry (Terrence married Teresa) bought one of the first houses of a large new development year’s ago. Their biggest inconvenience was going to the post office to get their mail. It was a very, very long time before a mail carrier would begin delivery into the new housing complex.
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Ardell..wow
What’t the chance we both had oil magnate uncles?? Amazing..apparently we do..because I got almost the same E mail myself!!
EconE,
How long could the first buyers be alone in the deveopment before other homes are sold and occupied …I think it depends on the builder and their ability/desire to get the homes built and sold.
The factors that I’m aware of that would drive the builder to build out at a steady pace is holding costs …not only of the land, but also of their sub contractors. I have no clue how agreements between builder and their subs are written, but if the builder has to go idle for whatever reason (waiting for permits or curing problems with the city) …then I imagine they’re still paying for the subs..regardless if they’re doing work. So it’s in the best interest for the builder to keep a steady pace of construction. If this isn’t the case with the subs, ..they’re still paying interest on the unimproved lots.
The flip-side to this is…if they build out too fast and flood the market with too many new homes (a concern of mine up here in south snohomish county) then the builder has got not only holding costs of the land, but now they’re paying interest on the homes themselves. It’s a game of balance for each builder …balance between how fast they want to build and how fast they think they can sell.
The early phases of a development is usually testing the market. Release a handful …good idea to mix in the good lots with the average lots (or they’ll throw in a thing called lot premiums) …at a price and see how they do. If they sell too fast …. raise prices. Like you said in one of your posts …builder’s trying to create a mini-cartel. If you’ve got a highly desirable development, you can keep turning the price dial up gradually.
Now…it can backfire and this is where the buyer and hopefully the buyer’s agent needs to make an educated purchase decision. Two developments about a mile apart from each other came onto the market last year at basically the same time. Both developments had similar homes. Both off of major streets, Plat A was next to more commerical/multi-family areas while Plat B was closer to other residential. Plat A came on market probably average $30k more than they should have. Plat B came on maybe $10k under where they should have. Plat A floundered and prices fell. In that situation, any early buyers just got screwed. Poor decision…especially with a very similar development so close at a lower price. So…don’t take my …buy early in the development for the lowest price statement as law …you still have to be smart about it.
As for your question about reselling while the development is still slowly being built out. It depends. From a buyer’s perspective…let’s say the builder now has 5 other lots available and your house just came on the market. You most likely can’t price yourself at the builder’s current price…for one..you have a house that’s been lived in, whether or not the builder’s warranty is trasnferable becomes a question cause all the other homes will … most likely..have some sort of warranty ..will yours? and the fact the new homes are …well…new and yours is used ..maybe just for 6 months but it’s still not the same as brand spankin new. …so if prices haven’t climbed much since when you bough it, …i can imagine it definitely negatively impacting what you can sell yours for. I know of someone who bought a house in a high-end new construction development (lesson on how NOT to flip homes) and put it on the market for $50k more than when they bought it …right after they closed on it. Sat for I think 6 months till their $50k premium was whittled down to only a $15k premium …it was barely enough to cover just the excise tax ..let alone the 3% SOC they were paying plus whatever the listing agent was gonna get. Their problem, ..they purposely tried to create the situation you described EconE. They bought early and then wanted to sell while the builder still had a bunch of unbuilt or in-progress lots. Now…why would anyone in their right mind pick a resale that is obvious someone is trying to flip over something that is priced the same or maybe even lower (depending on any buyer bonuses the builder might have) but new. So it sat and sat and they ended up taking it off the market…selling the house they lived in at the time and moving into the house they tried to flip…and then having to underprice the house they lived in just to sell it quick …I guesss 6 months of double payments took a toll.
As for the mail issue ….in my development I was #3 or 4 to move in of 50+ homes and our mail was being delivered right away. ..just had to pick up the keys from the post office. In fact…I haven’t heard of any of my clients having to go to the post office to get mail..but then again…none of the developments were bigger than like…40 or 50 homes… so I don’t about some of those 100+ communities.
Interesting information for most buyers.
If I would guess which property it is from the clues of other being available and 8-9 sold, I would think Camwest’s Tyler Creek in Redmond.
Wow!!! and Thank you very much for the Real Estate Con article you published.
The mortgage fraud epidemic that plagues the US has far reaching economic ramifications which are only now starting to materialize. This effect is felt more deeply in higher valued markets, such as the OC. I spent 15 years as a QC manager for a large, So Cal based, national lender out there before moving back home to So Fla, the other mortgage fraud capital of the US.
As mortgage industry insiders, we saw this stage being set years ago, with lenders and Wall Street investors alike seeing the writing on the wall but relishing in the proceeds of these loans. “Don’t ask, don’t tell” should no longer be unwritten policy at these companies, presumably responsible for not only great economic contributions, but who are responsible for financing peoples lives and dreams, or irresponsibly destroying them for a profit.
Cindi Dixon, Director
Mela Capital Group, LLC
Mortgage Fraud Investigations and Training
866-382-7566
PO Box 670035
Coral Springs, FL 33067-0035
Cindi@MortgageFraudQC.com
http://MortgageFraudQC.com
Please visit our DISCUSSION BOARD for the latest mortgage fraud news and to anonymously report mortgage fraud. http://MortgageFraudQC.com/blog/blog.html
I haven’t seen builder-paid buyer’s agents here in Sacramento, and that sounds like scammy, used car sales tactics to me.
On the other hand Ardell, in a slow market a builder isn’t going to build all of their lots at once. There isn’t much that’s worse for builders than standing inventory. So they (at the least the privately held companies) will slow the pace of building to minimize standing inventory. Some lots will be more desirable than others, and if I were the builder, I’d sure mix in the dogs with the good lots and try to control supply and demand to create urgency.
EconE, you can’t blame them for that. Just wait to buy that diamond. If consumers could keep their pants on and wait, demand would fall and prices will be reduced to stimulate sales. That’s what happened here with the market slowdown. Otherwise, shop around. There is always a builder more motivated to move homes. If you have to have it now, you pay the price.
One other thought on registration, just to play devil’s advocate. The builders in our area require registration on the client’s first visit in order to avoid the scenario where a buyer plugs in a friend or family member late in the game for an unearned commission. Even when the agents are good, they have little to do given the way builders price. They have an annoying (to the builder) tendency to look busy and justify their commissions by stirring sh*t up during the transaction, ultimately creating an unhappy client for the builder. Would you want to pay a commission for that?
Marc,
Since CA is not a “Designated Agency” State, you wouldn’t see that there. It can be used effectively, but only if the “builder paid Buyer Agent” is free to promote any property on market equally with the builder’s product, and even recommend that the buyer NOT buy the builder’s product. That’s where the concept fails, if the Buyer Agent is not free to do that.
But in the end it becomes a “Buyer Agent” like Redfin, where the Buyer Agent doesn’t necessarily discuss IF the buyer should buy it in the first place. So it may be “of value”, but not a 3% value to the buyer.
I totally agree with you on the builder part in your Par 2, what I don’t get is why a consumer looking at a 50 lot site plan, who is not in a hurry, doesn’t seem to see more than 2 available lots. I just say, well I want one of these five that are not available, and stop in often and wait until one of the better ones can be had…which is someday…just not today. I don’t question the builder’s tactics, I’ve been around the block and know how that goes. I question a consumer not understanding that “as tactic”.
As to “there’s always another builder to…”, not really. Limited close in “land” issues. If there were plenty of land to build on, yes. But Seattle Area, both in Seattle and in “the Zone” near Microsoft…no real vacant land to speak of. No “builder after builder” scenarios like further out in Monroe and Sultan and some other further out areas.
On your last paragraph, the buyer is paying the commission, not the builder or seller (new mindset) so yes, the buyer WOULD want to pay a commission for THAT. The seller does not get to pick the buyer’s agent, nor does the seller get to have the buyer’s agent do what the seller would want a buyer agent to do. Otherwise, how can you call that person “a buyer’s agent”.
The system as it exists now wants to rationalize that a “Buyer’s Agent” exists for the seller’s benefit and is paid by the seller. That has to stop. It makes no sense at all, and never did. The Buyer Agent Fee in the price is the fee for buyer representation. The Seller can take it out of the price and sell to buyer direct at 3% less, or let the buyer use it for a buyer’s agent of buyer’s choosing. But calling someone hooked up with the builder that buyer’s agent, is deceiving, unless that agent is free to say “don’t buy this builder’s house”, which would be a difficult position for that agent to be in, if they are hired by the builder to be in that space.
I got the perfect revenge (well, as good as it gets). When you get a scammer, reply and write in the 1st line of the email “THE FOLLOWING MESSAGE IS IN GREEK”, then if you actually speak Greek write something insulting, if you don’t speak Greek write about 30 lines of jibberish and then add to the end “ελπίζω να πλή
Excellent.. apparently I got the same email with the same unheard of Uncle Randolf (except with my last name as I thort) who also ran an oil company in HIS country and died in car accident on Oct 4th 1998. Hillarious! I might just take u up on ur idea there Econ. I was going to just email him to get a life but I quite like the idea of wasting their time…
Much appreciated article Ardell, thanks for the heads up.
Shanz,
They can at least get creative and make the name sound more believable 🙂
Baker & McKenzie LLP
100 New Bridge Street
London EC4V 6JA, England
DX No: 233{London Chancery Lane}
Hello Mr. ,
This is a personal email directed to you and I request that it be treated as such.
I am Thakar Kandarp, a solicitor at law. I am the personal attorney/sole executor to the late Mr Randolf Netto, hereinafter referred to as ‘my client’ who worked as an independent oil magnate in my country and who died in a car crash with his immediate family on the 4th of Oct, 1998.
Since the death of my client in Oct, 1998, I have written several letters to the embassy with an intent to locate any of his extended relatives whom shall be claimants/beneficiaries of his abandoned personal estate and all such efforts have been to no avail.Moreso, I have received official letters in the last few weeks suggesting a likely proceeding for confiscation of his abandoned personal assets in line with existing laws by the bank in which my client deposited the sum of 3.8 million U.S.D.
On this note I decided to search for a credible person and finding that you bear a similar last name, I decided to contact you, that I may, with your consent, present you to the “trustee” bank as my late client’s surviving family member so as to enable you put up a claim to the bank in that capacity as a next of kin of my client. I find this possible for the fuller reasons that you bear a similar last name with my client making it alot easier for you to put up a claim in that capacity.
I propose that 50% of the net sum will accrue to you at the conclusion of this deal in so far as I do not incure further expenses.
Therefore, to facilitate a possible joint venture in this regard, you need, first to contact me via email, signifying your interest and as soon as I obtain your confidence, I will immediately appraise you with the complete details as well as fax you the documents, with which you are to proceed and i shall direct on how to put up an application to the bank.
Upon the reciept of your reply, I will send you by fax or E-mail the next step to take.I will not fail to bring to your notice that this proposal is hitch-free and that you should not entertain any fears as the required arrangements have been made for the completion of this transfer. Like I implied, I require only a solemn confidentiality on this.
Thakar Kandarp.
Hi,
I’m in Australia here and recieved exactly the same email, ran a search which led me to you….These people have no conscience at all, we are lucky we are smart….how many people out there aren’t as lucky, i think there are still a large amount of people fallin for these scams.. Ruthless.. Anyway good job for posting!
Same here! I got an e-mail from eleven hours ago hmmm same type of e-mail THIS IS A JOKE!!!!!!!!!!! SOME PEOPLE DON’T HAVE MONEY TO BE SWINDLED LIKE ME ! HOW DARE SOMEONOE POSE IN SUCH A MANNER TELLING ME IF I LIE I COULD HAVE 40% OF 8 MILLION DOLLARS I AM MAD AS A MOTHER HOW CAN THIS BE ALLOWED TO HAPPEN IS THERE NO SECURITY LEFT IN THIS COUNTRY PEOPLE NEED TO GET WORK LIKE THE REST OF US AND QUITE TRYING TO GET IT FREE COWARDS HIDE AT HOME BEHIND THEIR COMPUTER AND SCAM HARD WORKING PEOPLE WITH TEMPTATION THIS IS DISGUSTING
I just got this too!! Seems he only took a longer Christmas break than the rest of us.
(Sorry…I had to take the spam part out or we’d be perpetuallizing it. Left your comment though.)
Black Stone Chambers & Solicitors
Blackstone House Temble,
London Ec4y 9BW
Good Day,
This is a personal official email directed to you and I request that it be
treated as such. I am Barrister John Howell ,a solicitor at law.I
am the personal attorney/sole executor to the late Mr Randolf ( Surname
Witheld ),hereinafter referred to as’my client’ who worked as an independent
oil magnate in my country and who died in a car crash with his immediate
family on the 4th of oct,1998.
Since the death of my client in oct,1998, I have written several letters to
the embassy with an intent to locate any of his extended relatives whom
shall be claimants/beneficiaries of his abandoned personal estate and all
such efforts have been to no avail.
Moreso,I have received official letters in the last few weeks suggesting a
likely proceeding for confiscation of his abandoned personal assets in line
with existing laws by the bank in which my client deposited the sum of 13.8
million U.S.D.
On this note i decided to search for a credible person and finding that you
bear a similar last name, I was urged to contact you, that I may,with your
consent, present you to the “trustee” bank as my late client’s surviving
family member so as to enable you put up a claim to the bank in that
capacity as a next of kin of my client.
I find this possible for the fuller reasons that you bear a similar last
name with my client making it a lot easier for you to put up a claim in that
capacity.I propose that 45% of the net sum will accrue to you at the
conclusion of this deal in so far as I do not incur further expenses.
Therefore, to facilitate the immediate transfer of this fund, you need,
first to contact me via email signifying your interest and as soon as I
obtain your confidence,I will immediately appraise you with the complete
details as well as fax you the documents,with which you are to proceed and i
shall direct on how to put up an application to the bank. HOWEVER, you will
have to accent to an express agreement which I will forward to you in order
to bind us in this transaction.
Upon the reciept of your reply,I will send you by fax or E-mail the next
step to take.I will not fail to bring to your notice that this proposal is
hitch-free and that you should not entertain any fears as the required
arrangements have been made for the completion of this transfer.
Like I said, I require only a solemn confidentiality on this. contact me
back on johnhowell2001@gmail.com
Best regards,
John Howell.
________________________________________________
This message was sent
using Dodo Webmail – http://www.dodo.com.au
As you can see I got one too! Thought it was rather iffy! I see the percentages are dropping! Inflation??! Thank goodness for websites such as yours.
Disgusted – 15 April 2008
I NEARLY FELL FOR THIS EMAIL THIS GUY SENT TO ME…I ALMOST GOT A HEART ATTACK WHEN I LOOKED UP HIS NAME AND YOU SAVED ME!!!
THANK YOU SO MUCH FOR THIS SITE…I OWE YOU
SHOCKED…
TO WHOM IT MAY CONCERN, THANKYOU FOR THIS INFORMATION, IT’S AMAZING WHAT YOUR GUT INSTINCT TELLS YOU AND ALSO HAVING SOME KNOWLEDGE OF WHAT YOU EXPECT FROM A TRUE SOLICITOR AND HOW THEY SPEAK TO YOU. I RECIEVED THE SAME EMAIL, THOUGHT IT TO GOOD TO BE TRUE, SO EMAILED BACK JUST INCASE IT WAS FOR REAL. I HAVE ALSO PRINTED OUT ALL EMAILS SENT TO ME CONCERNING THIS ISSUE. IT TOOK TWO DAYS FOR IT ALL TO SINK IN & ALERT MY HUSBAND OF WHAT WAS HAPPENING. AFTER THE MONGREL CALLED ME PERSONALLY ON THE PHONE TRYING TO CONVINCE ME THAT IT WAS FOR REAL. STATED THAT HE WAS JAMAICAN BUT A RESIDENT SOLICITOR IN LONDON. HE SPOKE TO FAST FOR ME AND FOUND HIM UNINTELLIGABLE. RAN HIS WORDS TOGETHER & SEEMED AS IF HE WAS MUFFLED. SO BEWARE OUT THERE. I EMAILED HIM STRAIGHT BACK AND TOLD HIM THAT I HAD SPOKEN TO MY HUSBAND AND WE INSISTED ON PROVEN IDENTIFICATION SENT TO US FOR VERIFICATION. HAVE NOT HAD AN EMAIL FROM HIM SINCE. THIS HAS ALL HAPPENED WITHIN THIS WEEK DATED THE 16.5 2008.
Yep I just got the email too… i emailed back with a large question mark and he sent this:
Hello,
I received your email and will like you to know that I seek your partnership in having this funds transferred for our mutual benefit. Do not take this transaction for granted. This partnership shall be based on TRUST AND CONFIDENCE.
I am Mr. Thomas Lucas, a solicitor at law. I am the personal attorney to Late Engineer Robert (my last name here), a national of your country he’s known and referred to as my client. I am a Brazilian by birth but a British Citizen as i have lived here for over 25 years. You are qualified by last name to stand as the next of kin/ beneficiary to his funds and assets. The mentioned inheritance funds was meant for a business project which till now was never completed, and the funds totaling about £10,600,000.00GBP (Ten Million Six Hundred Thousand British Pounds) has been with the Security/ Finance Company since his death. After several unsuccessful attempts to trace members of his family, I decided to track anyone with same last name to present as next of kin since there are no known next of kin, hence I contacted you.
In view of the importance and urgency of this business to me, I am writing you to give you more information about this whole DEAL.
I know you may be initially scared and skeptical about this lucrative business offer just from the blues. Do not worry as I mean well for our benefit. One can presume that you may not or may have any biological relationship with the deceased family in question, but for us to consummate this one; I want you to assume this status and act as if you were one. From all investigations and enquiries there was no trace whatsoever of any known living or dead relations of the deceased that could be traced.
The world is so corrupt these days that if we do not get this money ourselves, no body knows what the Government and officials of the will do with it when confiscated. They could employ it into nefarious ventures that will not profit humanity and also to glorify our God. They could use it for terrorism, drug abuse/ pushing, prostitution, and any other destructive vices. You see this is my cardinal point for soliciting your co-operation to actualize this dream. This proposal is genuine and very legal and it is for our mutual benefit. To me, it is a divine coincidence. The business and its transaction will be done in the most legitimate manner.
For your assurance, there is no risk attached whatsoever. By virtue of my profession, I would not have involved myself into vain or slanderous business. I have my esteem profession, age, family name and my immediate family, my integrity and reputation to uphold. I would not have ever contacted you into this business if I knew of any obstacle along the line. I have done my homework thoroughly. I will provide to you all the necessary documents that backs up this claim which will prove you as the next of kin as soon as the business commence and if demanded by the Firm. So do not worry about this side.
You see, I only needed the co-operation and assistance of a willing foreign partner to actualize the dream. I shall be liaising with you on what to do and how we could make this business work and succeed. The transaction shall last for about 7 business days to materialize, depending on your ability to give it your due attention. This money should be shared amicably between us on a 50/50 basis. But remember, it takes the strong hearted to venture into lucrative businesses and at the long run, enjoy the bounties of the risk and uncertainties taken. It will please me so much if you accord this business your esteemed attention because this money could only be transferred on claim by a foreigner. This may be our chance to be financially liberated; therefore I implore you to assist me in actualizing the dream and thereby reap the benefit of a well-planned financial deal.
Please, less I forget, you must understand that this is a FINANCIAL DEAL and at such, it must be kept secret and confidential. I hope you will adhere to this and let it be on oath solely taken between you and me till this business is finalized and the money comes over to you. Ensure to keep this transaction very confidential.
I will proceed to feed your name into the bank database as next of kin to the deceased and get back to you with directions to contact the bank for release of the funds.
Maintain further correspondence with me on this transaction through my private email box, I will direct you on the entire process to get this funds transferred.
I will proceed to feed your name into the records and documents as next of kin to my client and then file officially for transfer of the funds to you in that capacity. Re-confirm to me the following information:
– Your Full Names
– Your Address
– Your Phone and Fax Numbers
– Your Occupation
– Your Marital Status
– Your private email address
Expecting to hear from you soon.
Yours Faithfully,
Thomas
HI.. i am in Singapore.
HE ALSO DID EMAIL ME. HE SAID his client WAS RANDOLF (the name that was similar )..
and it was close to my mum’s father.. wat an idiot…he scammed me. lucky i went to search and found this website.. i almost fall to it. i mean when he said 45% of 13.8 million USD.
wth! btw yet he said he is barrister larry peter. he keeps on changing his name.
anw thanks!!!
Ardell:
It looks like you have made some new friends…
When I wrote this, it never dawned on me that people would use it to this purpose. I am still amazed that people actually get taken in by these things. If you were an heir, you’d more likely get a Certified Letter than an email.
I got a simillar email about 3 monts ago and emailed him back. After a few emails back and forth I googled all the info he had given me and found nothing, not even the attorney. He didnt email me back when I told him this.
Then i got this 1 2day. Very similar, same details etc, different attorney. So I googled it again an found this site. I was nearly falling for it! They must all be from the same guy cos they are all worded the exact same just different names.
Thank you all!!!
Good Day,
This is a personal email directed to you and I request that it be treated as such.
I am Barrister Rupert D’Cruz,a solicitor at law.I am the personal attorney/sole executor to the late Mr Dickson (Withheld),hereinafter referred to as my client’ who worked as an independent oil magnate in my country and who died in a car crash with his immediate family on the 4th of oct,1998.
Since the death of my client in oct,1998, I have written several letters to the embassy with an intent to locate any of his extended relatives whom shall be claimants/beneficiaries of his abandoned personal estate and all such efforts have been to no avail.
Moreso,I have received official letters in the last few weeks suggesting a likely proceeding for confiscation of his abandoned personal assets in line with existing laws by the bank in which my client deposited the sum of 30 Million pounds.
On this note i decided to search for a credible person and finding that you bear a similar last name, I was urged to contact you, that I may,with your consent,
present you to the “trustee” bank as my late client’s surviving family member so as to enable you put up a claim to the bank in that capacity as a next of kin of my client.
I find this possible for the fuller reasons that you bear a similar last name with my client making it a lot easier for you to put up a claim in that capacity.I propose that 50% of the net sum will accrue to you at the conclusion of this deal in so far as I do not incur further expenses.
Therefore, to facilitate the immediate transfer of this fund, you need, first to contact me via email signifying your interest and as soon as I obtain your confidence,I will immediately appraise you with the complete details as well as fax you the documents,with which you are to proceed and i shall direct on how to put up an application to the bank.
This will be executed under a legitimate arrangement that will protect you from any breach of the law.If this business proposition offends your moral values, do accept my apology. I must use this opportunity to implore you to exercise the utmost indulgence to keep this matter extraordinary confidential.
Upon the reciept of your reply,I will send you by fax or E-mail the next step to take.I will not fail to bring to your notice that this proposal is hitch-free and that you should not entertain any fears as the required arrangements have been made for the completion of this transfer. Like I said, I require only a solemn confidentiality on this.
Best Regards,
Rupert D’Cruz
I just received the same email that these other people have. It only took me a few minutes to find this site. If it sounds too good to be true it IS. Thank goodness we are all finding out the truth. I am going to warn all of my friends and family about this.
I just got the same email…there is an actuall Barrister in London at that address..I might just forward this email onto him and see what happens.
lol………….. looks like we all had a oil magnate family member who died on the same day 4th Oct 1998……….WHAT A JOKE…..
Well I received an email from David Hyde Solicitor at law in London, with the same exact client only different name Mark(my last name). I looked him up at the law firm and there is a David Hyde only different address and phone numbers. All he wants at this point is a phone number and even after I wrote him to say under no uncertain terms will I give it to him he continues to email me and ask yet again for a phone number. I have also told him I found the same story just different names, and still I get a long letter from him. This guy does not give up.
yep I GOT THE SAME EMAIL STATING MY LATE UNCLE DIED ON THE 4TH OCT 1998 AND IN A CAR CRASH WITH ALL HIS FAMILY AND HAD 30 MILLION IN A BANK TO GIVE TO ME 50 .50 AND WAS A INDEPENT OIL MAGNATE WORKER AS WELL WHAT A SCAMMER .
Hi, I have received email’s from rupert d’cruz also, SAME AS YOU ALL, $30 MILLION SPLIT 50-50, I have saved all his emails and intend to give them to the Australian federal police in an attemt to stop him from hurting people.
i got a email about dickson my last name that died in that car crash to he wonts me to send $5000 australian money an he would put the other 5 up an i could get the money to an the email was from rupert d cruz
Hi Lily, and everyone else, well well we also had this mr dickson (name) killed etc etc we too will be sending this email to the Australian Federal Police this man/thing needs stopping..if they can that is!
Seems he has left it a while before starting up again.
Wow!This is scary – we are currently trying to buy a new house in the area.
Could you guys give advice on what would be better choice resale/safety wise (I have young kids and this scares me):Crossings or Perrigo Heights? I really really would appreciate your honesty and advice
Thanks
Hi,
I know you emailed me as well, and I have answered you there. I cannot give pros and cons of specific builders or developments publicly, but sent you some comments and questions a couple of minutes ago.
No, no, no…
It was my dear old uncle “Dickson Mahaffey”, oil magnate, who died with his immediate family in a car crash in October of 2004, not 1998, leaving behind 30 million pounds unclaimed.
🙂
Race,
My sincere condolences on the recent passing of your deal uncle Dickson 🙂