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EAST COAST REO (NCREO.COM), Burlington, North Carolina Complaints & Reviews - KEEP AWAY FROM EAST COAST REO. THEY STEAL $$$$$$$

EAST COAST REO (NCREO.COM) Contacts & Informations

EAST COAST REO (NCREO.COM)

Posted:    NO2NCREO

KEEP AWAY FROM EAST COAST REO. THEY STEAL $$$$$$$

Complaint Rating:  64 % with 11 votes
Contact information:
EAST COAST REO
2012 Anthony Rd
Burlington, North Carolina
United States
Phone: 1(336) 221-0032 OR 877-210-0838
ncreo.com
KEEP AWAY FROM JASON COX AND HIS REALTY COMPANY, EAST COAST REO ALSO KNOWN AS EAST COAST PROPERTIES. THEIR GOAL IS TO KEEP YOUR $1000.00 EARNEST MONEY. THOSE PEOPLE ARE JUST EXPLOITING HARD WORKING FOLKS IN THE STATE OF NORTH CAROLINA AND THE COMMUNITY IN GENERAL.

IF YOUR DREAM IS TO OWN A HOME, YOU BETTER KEEP AWAY FROM JASON COX AND EAST COAST REO. THEY WILL KEEP YOUR HARD EARN MONEY AND CLAIM THE MONEY IS IN A TRUST FUND THAT YOU KNOW NOTHING ABOUT.


DO NOT DO BUSINESS WITH JASON COX AND HIS COMPANY, EAST COAST REO. PLEASE, PASS THIS INFORMATION TO YOUR FRIENDS AND FAMILY AND PROTECT THEM FROM JASON COX AND EAST COAST REO. THEIR INFORMATION IS BELOW.
http://www.ncreo.com/East_Coast_REO_REALTOR.shtml

http://www.ncreo.com

JASON M. COX
East Coast REO
Corporate REO - Main Offices
2012 Anthony Rd
Burlington, NC 27215
Main: 1(336) 221-0032 OR 877-210-0838
Fax: 336-792-4589
Email: info@ncreo.com
Comments United States Real Estate
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 30th of Oct, 2009 by   YANKEEDREAMER63 0 Votes
I tryed to buy a Reo house from Jason Cox of eastcoast reo. He countered my offer saying I had 10 days to have an inspection, and then my $1000.00 earnest money was non-refundable. I tryed to let him know that I needed 21 days. He sent my agent some nasty e-mails, and refuse to deal with me any longer on the property. His counter offer only wanted to get my earnest money, it's like he didn't want to deal with me when he found out I was questioning him on this matter. It didn't matter who I called, ie; attorney general, NC Realstate Comm, no one wanted to help me... This guy is dirty!!!
 23rd of Jun, 2010 by   sherrymuse55 +1 Votes
Before I get mixed up in a deal with REO realstate I would appriciate it if you could give me some more information on these people. If you could please comtact me at sherrymuse@hotmail.com
 3rd of Dec, 2010 by   julesrealestate 0 Votes
The earnest money legally has to be kept in a trust account. It can be either an attorney's trust account or the real estate brokerage's trust account. The real estate brokerage cannot keep the earnest money, if there is a dispute then the earnest money is turned over to the state. Again, earnest money will NEVER be kept by a real estate brokerage firm. The real estate brokerage cannot release earnest money to either party without an agreement between both parties. If Jason Cox and East Coast Reo were embezzling funds from the trust account, they would no longer be in business. Please read all contracts and addendums (especially REO addendums) before signing them. If there's something that you don't understand, contact an attorney.
 6th of Jan, 2013 by   A. Evans,Broker, AE.MountainHome@gmail.c 0 Votes
I work with East Coast REO as a buyer's agent. It is my responsibility to get the best terms and conditions possible for my clients. Some of the companies (banks, Fannie Mae, etc.) that are selling their foreclosures allow only 10 days to do inspections, but that doesn't include getting your loan. I have been able to get extensions from East Coast REO's (ECREO's) sellers most of the time.
In addition, I agree with julesrealestate above. It is very difficult in North Carolina for a real estate broker to mishandle earnest money deposits. The NC Real Estate Commission would shut them down in a heartbeat.
I have never had any issues getting earnest money deposits back for my clients when selling one of ECREO's listings.
If you are working with a buyer's agent that is experienced in foreclosures and short sales, you will not have any problems. However, I must add that many agents do not have that experience and even more won't deal with foreclosures and short sales because they require so much more work than a regular sale. Use a buyer's agent when dealing with any real estate transaction, and if it is a foreclosure or short sale, ask your buyer's agent how many s/he have successfully closed.
Happy home-buying!
Annette Evans, Mountain Home Dev. and Realty Inc.
 22nd of Jan, 2013 by   Prefer anonymity 0 Votes
I agree with the complaint. I am an unhappy buyer of a property from ECREO.
I just bought a bank owned property listed by ECREO, and ECREO referred the agent to me that I used. She was the quintessential buyer's agent and worked every step of the way to protect me from things that ECREO and the seller were trying to do. She saved me money and a lot of aggravation. For example, they tried to make me pay a $150 transaction fee to them at closing and she said "no way." However, because she did go toe-to-toe with ECREO several times, ECREO will not refer any more buyers to her. I believe this says volumes about the way Jason Cox does business. He could care less about the buyer's interests.
So be warned and beware!
 3rd of Aug, 2013 by   Donrong 0 Votes
East Coast REO are crooked and dirty. I tried to buy a house in Eastern NC. I was told by one of their realtors that no one had called about property that had any money. Price was 22, 400. I offered at my realtors advice 19, 000.00. I put up 1000.00 just like Fanny Mae contract said. Several months went by and I made calls to the NC Board of Realtors and they were of no help. I even called Fanny May and spoke to someone that informed me the way it was being handled was not right and was to be reported higher up. I was finally told there was a counter offer. I raised my offer to asking price and after approx. 3 months I cancelled. One excuse was FM wanted 10%down but paper work said only 1000.00.
Weeks pass and property went to 14, 500.00. I re submitted a full price offer and again 1000.00 down payment as stated on paper work. Month goes by with no approval to sell and inspection date had passed with no agreement. Weeks went by and I called FM again to complain and I called ECREO myself and was told of no response back from FM. ECREO emailed my realtor and inform it best for me to withdraw offer. Property now being sold to someone else.
 25th of Jan, 2014 by   Lovemybuyers 0 Votes
First please know that I am truly Pro Buyer! I am a licensed NC Broker/Owner of a company here in central NC. There is nothing more rewarding in my career than to see a buyer excited and happy after making such a huge choice in their lives. Buying a home is not an easy process. Especially an REO or foreclosed property. There are often times many addendums to the contracts themselves. Each addendum specifically spells out the terms of the contract. In almost all REO cases, those addendums are specific to the bank and a lot of times the contacts are unilateral in nature~ meaning they favor that particular bank. "One sided" if you will. It becomes a bi-lateral contract (between two or more parties) when the buyer signs the contract and all of the addendums agreeing to the terms set forth. I've read over a lot of these complaints. Please know that I am not an employee, of Jason Cox, East Coast Properties, East Coast REO or Compass Real Estate. Again, I'm Pro Buyer. But Buyers...Jason Cox nor his companies have ANY control what-so-ever over the disposition of earnest money. In fact, he doesnt even hold earnest money or have a trust account to hold earnest money. In NC, it is a choice of a real estate firm to hold earnest money. Misappropriating funds in a trust account, even by $1.00, is the quickest way to kiss your license good-by. In fact, I had a trust account but the uneasy feeling of something as simple as a monthly bank charge coming out of that account and risking my license was enough for me to close it and let the closing attorney hold the funds. If the contract goes south, there are specific rules as to the release of earnest money. The parties of the contract (buyer & seller, or buyer & bank...not the agents) HAVE to both agree on who gets the money. If both parties do not agree, the money is held in trust until they agree. If there is no agreement the money sits until a judge releases it or until the funds are sent to the escheat fund which in turn is used a lot of times to fund schools. There are very FEW exceptions to these rules. One being a contract that goes south where HUD or the Department of Housing and Urban Development is the seller. If they say the buyer doesn't get the money, it goes to HUD which is a federal agency and overrides NC state law. Bottom line is that it is important for a buyer to have a buyer's agent in any transaction. In dealing with an REO property, make sure your buyer's agent is fully aware AND understands the terms of the contract AND the addendumS. After all, you wouldn't go to your vet to get your tooth pulled right? Both may be great doctors but each within their own discipline. Jason doesn't prepare these contracts or addendums. They were prepared well in advance by the banks and their attorneys that are generally the same for each transaction. Some more common or "typical" contracts are prepared in conjunction with the NC Real Estate Commission and the NC Bar Association. As for "his properties" being less than desirable...they are more often times homes where the families have had the unfortunate ordeal of a foreclosure. My heart goes out to these families. But it's the banks that initiate the judicial foreclosure. That bank owns the property before Jason or any other REO agent markets it for sale. They are employed by the bank to help dispose of the asset. Now having said that, being Pro Buyer, also makes me Pro Homeowner. If you are in danger of foreclosure, and your property is located in NC... investigate the NCForeclosure Prevention Act. These programs really work. In fact, I know ppl that have lost their jobs and the fund pays their mortgage for up to two years. That program is state and federally funded and can be a reality to many ppl if they go in to speak with a housing councilor. Please please buyers...get an agent you can trust and knows how to effectively represent you!!!

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