ComplaintsforPayoffer, LLC

• Initial Complaint

  06/05/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  My husband and I signed a contract with PayOffer on May 5, 2023 for the sell of our home. The agreement was we would receive 30,000$ on closing on May 31 and 275$ a month for the next 21 months then we would receive the remainder 30,000$ minus the 275$ monthly on March 1, 2025. In the contract, it states that their cancellation date is May 12. They cancelled the contract with no warning, no indication whatsoever that anything was amiss on May 30, the day before we were to close. My family and I had already moved to a different state because we trusted this company and were in a contract with them for the sell of our house. It has put a financial burden on us and they show no remorse and take no responsibility for the chaos they have caused.

  

  Business response

  06/09/2023

  Attached is the full purchase agreement that was mentioned in this complaint. Page 11 contains the cancelation notice you mentioned in your complaint. However, that cancelation notice is for the conveyance of you, the seller. It is pre-filled out and ready for signature if you choose to cancel the purchase agreement with us. It is not a cancelation deadline for the Buyer. The purchase of properties often get cancelled and/or moved for various reasons that are beyond anyone's single control. It is never preferable, but it is a fact of the real estate industry. 

  The reason behind the cancelation is complex, but a simple version is as follows: The purchase of the home relied heavily on the ability to rent the property out to a company that helps addicts recover from substance abuse and live better lives. One of the requirements for this is that the home is connected to city sewer. This was confirmed by you on our initial contact, as well as by the listing agent, however once we verified this information with the city, they confirmed that the property was not on city sewer. Had this been accurately depicted at the onset of our discussions, we could have avoided this entire transaction. It is very unfortunate that we had to cancel the purchase agreement, however, it is not uncommon for a sale of a home to fall through due to a number of reasons. 
  
  We hope that you are able to sell your home quickly to the right buyer for your needs and are apologetic for the current outcome and experience you had. 

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