BuyOwner.com / Acquisition / Terrible company
I am a Realtor in the Tampa Bay area of Florida. I had a client who has his home listed with me, and he previously had it listed with BuyOwner.com (also known as MLS Realty). Long story short - they didn't bring him any buyers and he had to move out of state soon so he called me. We got an offer on his home and the title company ran a title search to check for any outstanding liens. Guess what? 'MLS Realty' had placed a lien on my clients home and he had no idea why. Neither did I! So I called BuyOwner and asked why there was a lien on my client's home and the rep I talked to said 'Ooops we forgot to remove it' - even though they had already been paid in full by my client appx. $2500 for doing nothing. I asked why they place liens on Seller's homes and they told me they do this on every home they list, regardless of whether they are paid up front. This makes no sense to me. It was a huge hassle to get the lien removed and my client said that they had never mentioned to him that a lien would be placed on his home - no doubt it was buried in the fine print. I am a Realtor - I don't get paid upfront. I only get paid when I sell your home - so why does this company do it differently? Beware of any discount brokerages because there is a reason they are discounted. The saying that if something seems too good to be true, it probably is, rings true here. I've heard of may other people finding themselves in similar predicaments with BuyOwner lately too. There are reports on complaintsboard that say the company is being investigated and I certainly hope so.
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