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#117103 - 02/06/07 07:03 PM Re: Can't prevent current ongoing agent/broker fraud!
Georgie Offline
Junior Member

Registered: 07/06/06
Posts: 5
Loc: California
Oakenfold, re your 1st question, why our atty isn't doing all this for us: He's been retained for the action against this developer re the shoddy construction of OUR condo project. The issue I'm writing about here has to do with the way this developer & hired real estate broker do business with respect to other projects: luring unsuspecting folks into purchasing condos & rolling the dice re quality of the developer's work.

Your 2nd question: I am 100% certain that the 1st agent used (from REMAX) was the daughter of the developer.

Your 3rd question: Proof of comments made by the present broker (thecondopeople.com) to that effect, no. Just specific comments from 3 individual potential buyers who came back to us & told us the same thing: the seller/developer/builder says he has $2 million general liability, and saying the broker showed them some type of proof. That proof, though, was NOT the developer/builder's general liability, but simply proof that the HOA has $2 million general liability coverage. The broker knows the difference, no? But the potential sale is all that really matters to him, so ...

The last question, is the developer/builder the general contractor as well. Yes, he was, according to all bldg permits obtained from the City of Burbank's bldg division. As far as the subs, I saw the same stucco sub working on the new condos in Burbank, as well as the same waterproofing sub.

The developer/builder also does NOT carry worker's comp insurance (according to the State of CA contractors license board info), paying everyone in cash probably.

It's all been working out so well for them, isn't it? No one can/will stop them, it seems.

Also, as an FYI: I understand that it is illegal for a bldr to be a member of the LLC (subdivider/seller's corp). Well, this builder/developer is also a member of the LLC (subdivider/seller), according to Secretary of State docs.

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#117104 - 02/07/07 01:26 PM Re: Can't prevent current ongoing agent/broker fraud!
oakenfold Offline
Moderating
Member

Registered: 02/04/07
Posts: 73
Loc: Northern California
I suggest filing complaints with the various entities I listed previously.

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