Bristow, Virginia

I wish to express what I believe to be unethical conduct against a Coldwell Banker, Vienna, VA. realtor, Ms. Karen Crowe. She represented me and my son with the sale of a townhouse in Bristow, VA. in Dec. 2015.

My son and his wife lived in the house and were in divorce proceedings, the wife left and my son could not make payments alone. The house was about to go into foreclosure and as co-signer on his mortgage I tried but could not make payments to help. Ms. Crowe met with my son, then contacted me for the possibility of her listing the house with Coldwell Banker in leu of letting it go into foreclosure. We agreed to the listing with the understanding if the house sold, we could not afford to incur any costs at the closing. Ms. Crowe agreed. The house was listed with Coldwell Banker on Sept. 18, 2015.

Prior to listing the house Ms. Crowe ask if we knew what the payoffs were on the house. I told her the only info we had were the loan balances shown on-line with Wells Fargo. She ask if the balances included any interest accrued for non-payments of the mortgage. I did not know and sent her an email on Nov. 2, 2015 with an attachment of what Wells Fargo’s on-line mortgage balance showed and ask her look it over and tell me where I’m wrong with the payoff fees shown. She sent an email dated Nov. 2, 2015 using those payoff figures I sent her to created a ‘Seller’s Estimated Costs of Settlement’, without addressing any interest fees that may have accrued. The estimate showed the Adjusted Net Proceeds for the seller to be approximately $6,000, to our advantage. I assumed the payoff figures I provided her were correct since she used them for her cost estimate and it benefited us. A Sales Contract on the house was accepted, signed on Nov. 8, 2015 and ratified on Nov. 10, 2015.

Concerned, I contacted Wells Fargo for their estimated payoff figure and sent that amount to Ms. Crowe by email on Nov. 23, 2015. Their payoff was considerably more than Ms. Crowe put on her cost estimate. I was not aware Wells Fargo would charge interest on unpaid mortgage payments. Ms. Crowe should have made us aware. In an email on Nov. 25, 2015 I ask her what our costs were going to be at closing. She provided us with an updated cost estimate on Nov. 30, 2015 showing we were going to incur some costs at closing. It wasn’t until Dec. 21, 2015, the day before the scheduled closing date, that we were notified that our costs at closing was to be almost $7,000. Much more than we anticipated!

In my opinion, Ms. Crowe acted in an unprofessional manner by showing she was more interested in making the sale than protecting the interest of us, her clients. As an experienced realtor, she knew that interest on unpaid mortgage payments would be charged and yet she didn’t tell us that we needed to get a more accurate payoff figure when she created her original cost estimate. I thought the figures I got on-line from Wells Fargo and sent her to validate, was what she needed. She reviewed the figures and accepted them. She didn’t inform us of what our real closing costs would be until the day before closing. She knew we didn’t have the funds to pay anything at closing but waited until the last day to inform us of what our closing costs were. I had to scrape up funds and get a cashier’s check to satisfy the Title company’s requirement at closing. If we had known up front, the mortgage payoff was going to be more than she showed in her cost estimate, we would have not accepted the sales contract and ask for a better offer. I expressed my dissatisfaction to Ms. Crowe that I thought we were treated unfairly but I believe she just wanted to make the sale and move on.

Coldwell Banker Cons: Unprofessional.

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