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Review 3/27/2010
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I want to share my experience so that others will be more cautious and reconsider when dealing with Stone Equity Group.
My experience with SEG is probably the most interesting of all on this forum, as it illustrates how little accountability SEG takes for their own actions and how slowly they are in cleaning up a mess started from their end.
Initially, my only contact with SEG was through my SEG sales rep. I discussed with the rep that I only wanted to consider selling in the open market, because it didn't make sense to go through the land contract. The SEG rep advised me to check the CHOP (land contract) program
box anyway on Exhibit A, so SEG would send me the land contract, and I could see the actual terms. The rep stated that checking the box was not a commitment and that I could back out if I wanted. Nonetheless, I informed the SEG sales rep to tell SEG I wanted to sell property outright.
When my escrow finally closed back in end of Nov, I got the lockbox combo from SEG rep soon afterwards and proceeded to work with realtors to sell my place.
Several weeks later, I was surprised when my realtor informed me that my property was occupied!!! I clearly never authorized any occupants in my property. What I found out from SEG, was that they tried to place a buyer under the land contract, but because of company turnovers, there was misunderstanding and buyers moved in. But SEG never informed me and I never got any land contract to sign at that time. SEG admitted to me they dropped the ball.
I discussed with SEG CEO and the agreement was to move occupants out to another property so I can sell the unit.
Well many months later, SEG has been running into complications in this process, and they still have not moved out the occupants as agreed.
I find it more disgusting that SEG is unwilling to take responsibility for their mishaps by at least compensating me fair rent value during the time occupants live in my place rent free.
To make matters worse, the city has cited me (the owner) for building code violations left and right, with not ONE of them ever being closed out since SEG started to rehab my house. SEG advertises their properties to be rentable, liveable, saleable condition. So this is something
SEG should have been more proactive about and had taken care of prior to close of escrow.
If the inspection crew used is as experienced and competent as SEG claims they are, I wonder how they could have missed such blatant violations.
I'm not holding my breath on how many more months SEG will delay fixing these code violations.
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