DO NOT DO BUSINESS WITH EAST COAST REO (NCREO.COM)

Atlanta, Georgia 17 comments
Not resolved

JASON COX & EAST COAST REO WILL EXPLOIT YOU!

http://www.ncreo.com

JASON M. COX

East Coast REO

Corporate REO - Main Offices

2012 Anthony Rd

Burlington, NC 27215

Main: 877-210-0838 OR 1(336) 221-0032

Fax: 336-792-4589

Email: info@ncreo.com

EAST COAST REO ALSO KNOWN AS EAST COAST PROPERTIES HAS BEEN DOING A LOT OF INJUSTICE. THEY REFUSE TO GIVE BACK PEOPLE'S EANEST DEPOSIT MONEY WHEN YOU ARE UNABLE TO CLOSE ON A PROPERTY. THEY REQUIRE EVERYONE TO GIVE $1OOO DEPOSIT BECAUSE THEY KNOW THEY WILL NOT GIVE THE MONEY BACK. PLEASE, KEEP AWAY FROM THE PROPERTIES THEY HAVE FOR SALE AS THEY WILL FIND A WAY TO MAKE YOU LOSE YOUR MONEY AND MOVE ON TO THE NEXT VICTIM.

EAST COAST REO IS NOT A COMPANY TO BUY PROPERTY FROM. THEY ARE A VICIOUS REAL ESTATE FIRM THAT IS EXPLOITING PEOPLE AND KEEP THEIR EARNEST MONEY. BELOW IS THEIR INFORMATION. KEEP WAY FROM THEM. JASON COX IS THE COWARD OF INJUSTICE. PLEASE, PASS THIS MESSAGE AROUND TO YOUR FRIENDS AND FAMILY THAT WAY THEY KNOW NOT TO DO BUSINESS WITH EAST COAST REO AND JASON M. COX.

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: 877-210-0838 OR 1(336) 221-0032

Fax: 336-792-4589

Email: info@ncreo.com

Review about: Foreclosed Properties.

Comments

Anonymous
#1013309

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Anonymous
Greensboro, North Carolina, United States #777875

First please know that I am truly Pro Buyer!I am a licensed NC Broker/Owner of a company here in 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...

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 even has a half of a clue. He is 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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Anonymous
Raleigh, North Carolina, United States #662715

This Jason Cox guy has done a lot of bad work in the area after talking with some people in the Triangle (NC)area.

Justmakingaliving
#597913

I've seen the inside of their dealings ... best to be sure you have a "good" buyers agent if you HAVE to deal with these people. If you don't absolutely LOVE the house and just can't live without it ... then find another house you're happy with.

Truth - I've never bought Real Estate from Jason Cox. I know I never will. But this I can tell you:

1.) He doesn't pay his bills if he thinks he can get away with it.

2.) He wil lie and manipulate a situation trying to get "his" desired outcome ... so beware.

3.) He has no moral fiber, which leads to his complete lack of responsible character.

Like I said, I've never dealt with him over real estate, but I have seen how he "requires" his employees to "do" certain things during a transaction. So if you have a complaint or have read one here... it's 99.9% possbly truth.

Anonymous
Elkin, North Carolina, United States #597092

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!

Anonymous
#561589

I would suggest you file a complaint with the state Real Estate Commission if you've had problems with ANY licensed Real Estate Agent.Believe me, the NCREC takes consumer complaints very seriously.

They will investigate any and all complaints for merit and properly punish any agent found at fault.

If you actually want results that's where to go.If you only want to complain and slander someone then continue here.

Anonymous
#546194

Maybe you should be complaining to your Buyer's agent and your closing attorney who should have been representing your interests in this deal.The REO companies are very specific and detailed with the terms of the contract.

The contract spells out clearly under what conditions Earnest Money may be forfeited by the buyer.Bottom line, you assumed responsibility in the agreement by signing the contract and all the addendum.

Anonymous
#538290

I've just started working with East Coast in Georgia.I love the company.

They survey each customer after a deal is completed. They even have a "How Is My Service?", link in the footer of every email with a manager's name, contact information. I find it hard to believe that a company would be this transparent if they we scammers. I hate it when real estate deals go bad.

In almost every case, it is a failure to communicate.

I certainly hope an honest attempt to resolve your issue was attempted before slandering a person’s name. The best think you can do when entering into any kind of legal transaction, is to have someone representing you?

Hire a Buyer’s Agent.You will have lot less stress and a better chance of a smooth transaction.

Anonymous
#459940

I agree with Ray, you people know nothing about real estate and dealing with REO properties.I've worked with REO properties for 12 years now and absolutely NO ONE can do any repairs before the property closes, unless the seller (bank) authorizes repairs.

The seller is not Jason Cox, the seller is the bank.NCREO lists the properties for the bank.

Read the bank addendum, if for any reason you go past loan commitment date, you generally do not get your earnest money back.

Anonymous
#356975

Please send a message to resource_centerfanniemae.com.To report these bad behaviors of Broker like this.

Also contact the asset manage to get involved to resolve some of these issue.That still usually do no help, but a least you have made an effort for all involve to correct thier behavior.

Anonymous
#111357

I agree no one should due any deals with jason cox or his company ncreo or east coast reo.www.ncreo.com.

this guy treats people unfairly and has no code of ethics and really dnt care.

He controls many bank owned prperties and I know for sure if you dont play by his bs rules that no other Realtor who works for banks makes up he will not submit your offer to the seller.Its just a matter of time before he gets what he deserves which is having his re license revoked...

Anonymous
#104355

The listing agent doesn't sign the closing papers.And the listing agent also wouldn't have made you any promises as they don't represent the buyer.

By chance did your agent promise something that didn't happen?Has the property now closed?

Anonymous
#104354

The listing agent doesn't sign the closing papers.And the listing agent also wouldn't have made you any promises as they don't represent the buyer.

By chance did your agent promise something that didn't happen?Has the property now closed?

Anonymous
#104134

You people are idiots! This is a great company. They do honest business.

What did they lie to you about at closing? How could they get away with that when the CLOSING ATTORNEY, not the agent/broker, is the one that's in control and makes sure everything is in order? That shows your lack of understanding. Jason didn't lie to you; you just didn't understand what was going on and you don't know what you're talking about.

Also, if you know anything about real estate, you would know that the seller (in the case of reo's, the seller is the bank) keeps your earnest money, NOT the agent/broker! If you don't close you lose your earnest money; it's that simple. You didn't understand that before trying to buy a home?

The only way to avoid this is to have a clause in the contract stating that you get your money back if you can't close. And most sellers won't agree to a contract with that kind of clause. If you lost your earnest money, call the seller (the bank) and stop showing your ignorance by saying that an agent/broker kept your earnest money.

Anonymous
to Ray Winter Park, Florida, United States #642819

there are alot of pissed angry customers posting on here. most of them seem to agree that you should NOT do business with this Jason Cox or the NCREO company at all. If it smells like a rat, its a rat.

If you defend it, it is usually because you have some stake in it. I have seen a few properties that East Coast has offered. They look like crappy, old, neglected places, but the asking price doesn't reflect those factors.

#1 rule people ... make sure you have a good agent representing and protecting your best interest and money !!!

I would tend to agree with the negativity these people are posting about this man and his company...........free opinion.

Anonymous
to looking for a home Winston Salem, North Carolina, United States #668144

My husband and I have been in the market for over a year to purchase a new home...Found one on Rodgers Rd in Graham,NC and decided to call about it...The company was in fact East Coast and to get them to return a phone call is like trying to pull teeth...I know for a FACT, that the company (not sure if that would be Jason Cox or not) but they do NOT & will NOT return phone calls....EXCUSE ME but are you folks not in the market to sell these homes or what?????.....Not sure how they do any business @ all when they can't even return a potential phone call!...As it goes, we are still looking for our new home but now that I have read all of this...I DEFINATELY will NOT be having any dealings with this slack a$$ company!

Anonymous
#70394

I totally agree with you.Jason Cox is a crook.

He lied to us in our closing process with Fannie Mae, signed documents that they didn't agree to and AFTER we closed on our dream home, we got a call from our lawyer that Fannie Mae didn't accept the closing papers. This was all Jason's fault. He lied to us!! We are STILL trying to close on this house a month after our closing origionally.

We are NOT allowed into the house to start repairs that we have to pay for BEFORE we get it.We are SO PISSED!!

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