American Residential Properties "Serious Offer" ended in contract termination
This company cannot deliver what it promised and seems to be a sham. My house is on the market and I receive the following email (in short) from their local agent:
"Please find the attached Cash offer for the above mentioned property that you have listed. Also attached is the proof of funds letter for American Residential Leasing Company, LLC (buyer).
A few points on the offer:
1. This is a cash offer (proof of funds is attached).
2. The buyer is a publicly traded company. This is an investor offer. The numbers work, and they are serious about purchasing this property.
3. The Buyer has to use Chicago Title (they will be paying the title premiums). This company purchases 100's of properties across the United States each month.
Their "serious offer" ended in contract termination with the following email six days later:
I regret to inform you that the buyer has decided to terminate the contract on the above mentioned property. They have re-analyzed their required numbers and the areas they would like to invest in. Unfortunately, this property did not meet one or more of their property requirements. I apologize for the time this property has been off the market.
I will be available to discuss this further tomorrow morning.
The email was from their local agent in Littleton, CO, who was not available the follow day to discuss this further and is still not "available." Also, they do not mention the "one or more requirements." So one can gather that this agent representing them lacks morals and ethics and is a good match for the company.
I recommend you accept a "cash" offer from "American Residential Properties" if you want to have your house off of the market for a while when you are trying to sell. Oh, and also go with them when you receive an offer the same day (which was higher than their's) because we bought into their BS corporate profile. Thank you for tying up my property and me not going with a better offer, AH.