Steven A Kudingo Realtor Richland Minnesota

Complaint: Steve Kudingo was at Remax, Edina Realty Inc, Realty Center, Most recently working for Real Estate Retrievers. (I DON’T have anything against these 3 Real Estate Companies: Edina Realty Inc, Realty Center, Most recently working for Real Estate Retrievers, Just they hired Steve A Kudingo. Summer of 2009 (August) Remax Realtor Steve Kudingo emailed me about an ad I had in the newspaper about wanting to buy a house. He told me he was a realtor and I told him to email me if he had some properties in XXXX. In October 2009, I had made some offers on 2 properties in XXXX with a couple of different realtors throughout January 2010. Meanwhile Steve kudingo would periodically email me with regular bank foreclosures listings from late summer to January 2010. Keep in mind I have still never met Steve Kudingo in person and ONLY spoke to him that one time on the phone. He never did a follow up call after his initial phone call back in late August. January 8, 2010 Steve called me out of the blue and told me about some properties in XXXXX that he thought were hot and was exactly what I was looking for. I told him I wasnt interested at this time, because I have been trying to buy 2 houses in XXXX with a couple other realtors. He asked me about the properties. I told them they were houses in XXXXX. He proceeded to tell me that he had a proven method of acquiring homes within a week guaranteed. I stated to Steve I would give him a shot on 1 home and if he could really do this; I would let him do the 2nd home. Steve said great. I then told him about the home in XXXXX. January 10, 2010 Steve called me Sunday evening to put in an offer for $22,501 for a home in XXXXX. January 11, 2010 the offer Steve Kudingo put in at $22,501 was countered back at $28,800. Steve suggested $22,603. So Steve submitted an offer at $22,603. January 12, 2010 again we received a counter offer from at $28,800. Steve said to re-countered at $22,603. Again Steve submitted the counter offer at $22,603. January 15, 2010 Friday night Steve called to say the offer from Seller had been accepted at $22,603. He said we need to get together to sign the paperwork and get the earnest money within 48 hours or the deal wont be accepted and the house would go back on the market. I said no problem and why not meet at my new house. That way you (Steve) can finally see what youve been putting in offers on, since he had never seen the house before. Steve said awesome, then asked me if he could go ahead and put an offer in on the other home XXXX. So I told Steve about the other home, I gave him the history of the home, including all offers and counter offers and then the address. He had no knowledge of this home previously. I told Steve that he couldnt put an offer yet, because my other realtor had just put one in. But I would call him and tell him not to put in another offer, so that way you (Steve) could put in an offer Sunday night (January 17, 2010). Steve again said awesome and asked me what kind of offer did I want to make. I replied $25,000. Steve told me I should put it in at $25,100. I said great lets do it! So lets meet Monday at 10 am at the house. Steve said Ill be there. Monday January 18, 2010 Martin Luther King Day First initial physical meeting with Steve Kudingo. Steve met me at the home I had just bought (XXXX). Upon meeting Steve, I asked him how long have you been a realtor? Steve said Ive been in real estate since the early 90s, but just got my license 2 years ago. I asked him, so you know how all this works. Steve said yes, I am very experienced. With that we walk inside and he asked me for a tour, since he had never seen it. After the tour, we signed all the paperwork and I gave him a cashiers check from my bank for $500. I asked Steve what he thought. He said I got a steal on this house and overnight I could sell this house around the low $40,000s without touching it. He then asked me for the listing. I said I wont list it, but if you find me a buyer, Ill give you 3%. Steve nodded. But the asked me how many houses I was looking to buy. I said I would like to buy another 2 to 10 more houses within the next 2-3 years. Steve immediately said great and asked if in the XXXX area. I said yes. Steve said I can guarantee Ill get you this other home and Ill start my search right away. And are you looking to buy and no listing? I said yes, but like I said if you bring me a buyer on any of my houses we buy, Ill give you 3% commission. Steve said awesome, so can I see the other house we put in an offer on? I said absolutely. So Steve followed me to the home in XXXX. He asked me to give him a tour, in which I did. After the tour, I asked Steve, so what do you think a quick sale would be. Immediately Steve said $79,900 overnight without touching a thing. I can guarantee you I can get you this house for between $28,000 and $29,000. So I said perfect. Lets start low and try it at $25,100 again for the first few days and as the week goes on up our prices, until we get it. Steve said I really like that plan. Please keep in mind is closed due to a Government Holiday Martin Luther King day. Tuesday January 19, 2010, Steve sent me an email stating that they countered my offer at $25,100 (from Sunday January 17, 2010 and Monday January 18th was a Government Holiday) to $40,800. So, I replied to Steves email: Steve, they were at $43,000 a week ago, so they came down a little bit again. Keep putting in offers the rest of this week. Steve replies by email: No problem, I will put one in everyday. Wednesday January 20, 2010 at 3:05 pm, I received an email from Steve Kudingo: Tom, I didnt get an email from them about the listing in XXXXX, so, I looked at the website. And someone from my office sold it. Looks like they were at the 60% mark. So I went on the website and saw it sold for $40,803. This sold price was ONLY $3.00 over what they had just countered to me the day before. I immediately called Steve: Steve, here, call me back immediately! Steve called me back within 15 minutes. Steve, who in your office sold that house, I have no idea. Steve, I find it hard to believe that someone from your office sold it for $3.00 more than what their counter offer was to me and you have no idea who it was? No , I dont Steve, you are lying to me No, Im not So you can look me in the eyes and tell me you dont know anything about this deal? Yes, , I can look you in the eyes and say no , I dont know anything about this! So I hung up. I immediately called his broker Greg from Remax in XXXX and told him exactly what just happened and what was said. Greg said that he was going to have Steve call me after he spoke with him about the situation. Within a hour Steve called me back. Hello T, I sold the house, Im sorry Steve, how could you do this to me? Youre my realtor! I cant believe you lied to me! I asked you point blank if you could look me in the eye and you sat there and said yes Tom I dont know anything about this deal! I gave you every opportunity to tell me the truth and over and over again you flat out lied to me! Steve, How can you do this to me? T, I know, I am sorry I cant believe you sold it right from underneath me, you had a fiduciary responsibility to me Steve! T, I know, I really am sorry Why didnt you tell me you had another buyer? I didnt want to get you mad You didnt even give me a fair chance to but this house. I know, Im sorry Who bought this house? Someone from Chicago, Illinois Steve has family from and around Chicago Illinois. When did they see it? They flew in on Monday. They saw it Monday morning and had a home inspection done to Steve, you were with me Monday morning! We met at the house in XXX and then I showed you the house the house in XXXX. Theres no way you could have shown them the house Monday! I mean they drove in on Saturday, because I had the home inspection done on Friday What? You mean to tell me these people from Illinois didn’t even see the house, but you had a home inspection done on Friday and put in an offer on Saturday? Yes Steve, tell me this; how can they have a home inspection done with no electricity, no water and no gas turned on, that house has been winterized? Thats what I thought, but they did KEY NOTE: Saturday January 16, 2010, my family came down from XXXXX to have breakfast and see the home in XXXX. We drove by at around 10:45am or 11am. No one was there. We went to lunch and at around 1 pm we had a realtor let us in the house in XXXX. I gave my family a tour and talked about the plans for the house. We were there until about 1:30-2:00pm. Still no one was there. Keep in mind a home inspection takes at least 4 hours and everything has to be turned on. The city has to turn on the gas and water and the utility company has to turn on the electric. The Seller, not the realtor, would do all this. Not to mention it doesn’t get light until at least 8am and the sun starts setting around 4pm. How long was the home inspector there? I dont know Now tell me this, how can your people put in an offer for ONLY $3.00 more Saturday than my counter from themTuesday? I dont remember, I am so confused You sure cant remember anything, can you? Your story is not making any sense, because you keep changing it. T, I am very sorry, but I am just so confused right now. Im sorry Steve, you need to make this right Ill do whatever it takes to make this right, I promise Thats fine. Ill give you 1 more chance Steve to do the right thing Thanks T and I am very sorry We hung up and I called Steves broker Greg back. I told Greg exactly the whole conversation (just like here and minus the swearing). Greg told me that he was going to have a heart to heart with Steve on Friday morning. With that we hung up. Keynote: NOT 1 time did Greg apologize for Steves behavior, nor did he even ask how could I fix this. He only agreed that Steves story didnt add up and something was strange about it. Not to mention, why was he waiting until Friday morning, this happened today, Wednesday. Any broker in their right mind that nothing to do with this would try to fix the situation now. Not wait until Friday. 5 minutes later I get a call from Steve. T, I called the buyer and told him what I did. And he told me that it was fine and to find him another house Are you sure hes ok with it, Steve? Yes, he totally understands the situation Perfect, lets talk tomorrow Ok We hung up. About 15 minutes later, Steve calls back. T the mom just called pissed as hell and said no way. We are not backing out of the deal. They accepted our offer at their price and we are not going to back out because this guy Tom wants it. Steve, I thought you told me the buyer was ok with it, what happened? Well it was the son from Georgia that said it was ok, the mother from Illinois is the one that isnt The son from Georgia? You told me the buyers were from Chicago, Illinois. Now youre telling me that there are 2 people, 1 from Georgia and 1 from Illinois? Yes Steve, who is actually buying the house? The son from Georgia Then how can the mom say no? I dont know Is he getting a loan, I mean just him and no cosigner? Yes Steve, this just isnt making any sense. If hes really buying the house, than she has absolutely no say. That would be like my mom calling you telling you not to let my son buy this house. She cant do that. T, dont worry, he wont get it. The paperwork might not get filled out right and wont get in on time What do you mean? They have exactly 48 hours to get everything in. The son told me hed do it Friday. Hes in Georgia and even if we overnight it that is 48 hours right there (there and back). It needs to be at the office by 2pm Friday. It wont get there. So, they wont accept it and in about 30 to 45 days the house will go back on the market Then what youre saying is, I have to wait another month to start all over, when I have spent months trying to buy this house? Yes Lets just talk tomorrow Ok We hung up. Thursday, January 21, 2010, Steve calls and tells me T, as of today, I put my 30 days notice in. Im never going to do real estate again Oh, well, let me know how this deal goes. I will We hung up. Friday January 22, 2010, the broker from Remax Greg called. T, I had a heart to heart with Steve and just to let you know I fired him. I called the Commerce Department and had his license put inactive. I have to move forward with the buyers at hand. There is nothing I can do Are you sure? Yes Greg, I thought the paperwork had to be in today by 2pm? Yes, that is true, but theyll get it there by Monday This deal just stunk from start to finish Yes Yeah Well, if something changes let me know I will, but it will go through We hung up. 13. Monday January 25, 10:30 am. I called Jeff from XXXX and asked him if he had received any paperwork on the house in XXXX. Jeff, T here, I was wondering if you got the paperwork on the house in XXXX yet? As of yet I havent received any paperwork, but Im expecting it sometime today According to the rules, you ONLY have 48 hours from the time the offer is accepted to get all the paperwork right? Jeff responded by skirting around the question never giving me any answer. But I will give them until the end of the day today Key Note: Once XXXX has accepted an offer, you have exactly 48 hours to have all the necessary paper work signed and dated along with a cashiers check from a bank in the office. Keep in mind that Friday Greg stated that the paperwork was going to be there Monday, AFTER the 48 hour rule with expired. Meaning that an additional 72 hours+ had gone by along with the 48 hours. With Jeff basically admitting this by simply stating, Im expecting sometime Monday. Therefore, Greg and Jeff knew full well of this deal NOT going through legally, thus bending the rules and the realtors standard practices and code of ethics. Not to mention Greg and Jeff legally violated securities, intentional tort, fraud and misrepresentation. SecuritiesNon-suitable investments, broker/agent fraud, misrepresentation broker has a duty to understand the investor’s risk tolerance. Fraud and Misrepresentation Intentional TortsDefamation, libel, slander, tortious interference with contract, tortious interference with prospective business relations A fiduciary responsibility is a legal or ethical relationship of confidence or trust between two or more parties, most commonly a fiduciary and a principal. One party, for example a corporate trust company or the trust department of a bank, holds a fiduciary relation or acts in a fiduciary capacity to another, such as one whose funds are entrusted to it for investment. In a fiduciary relation one person, in a position of vulnerability, justifiably reposes confidence, good faith, reliance and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires one to act at all times for the sole benefit and interests of another, with loyalty to those interests. A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.[1] A fiduciary duty[1] is the highest standard of care at either equity or law. A fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the “principal””): he must not put his personal interests before the duty

Tags: Realtors

Address: and must not profit from his position as a fiduciary

Website: and fiducia

Phone: unless the principal consents. The word itself comes originally from the Latin fides

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