Posted November 10, 2019 05:18:49A Florida real-estate deal may not have been the best move for a couple who were forced to sell their home.
But they didn’t have much choice.
For the last five years, Michelle and Chris Leber had been living in a two-bedroom condo in downtown Miami, and they were looking for a way to move to a larger, more affordable house.
The couple had just gotten married in July and were considering buying their second home.
But then, their bank account suddenly became full.
And so they started to worry.
They decided to go to a real estate broker, according to a court document obtained by The Associated Press.
They were surprised to see that they would have to pay about $2,000 for a home, with no down payment.
The broker offered them a $1,600 down payment on the $3.5 million property, which was located in the middle of downtown.
And the broker offered the couple $700,000 to buy the home outright.
The two said they thought they had an excellent deal.
But then, the next day, they learned that the broker had offered them only $1 million down, the lowest offer the couple could accept.
The broker had charged $2 million in mortgage payments.
So, Michelle Leber went to a bank manager and asked him to give her the down payment for the house.
But he refused, saying it was too much.
“That was pretty traumatic,” she told ABC News.
The real-tor, according a complaint filed in Florida court, “asked Michelle to call him back with an estimate of the property value.
He advised that she had not sold the house for less than $3 million, and that he would need to give it back to her.”
The broker called her and apologized.
But, she said, the broker told her that she could not get any more down payments.
The Leber family later discovered that the mortgage payment was actually $1.4 million, plus $700K for mortgage insurance.
The brokers website said the house was worth $3,000,000.
So, the real-home-builder told the Lebers that they had a good deal if they could just put down $500,000 and put $500K in cash.
Michelle Leber’s husband, Chris Leger, said he was shocked to learn of the broker’s decision to charge them the lowest amount they could accept, the lawsuit said.
Chris Leger said he’s never seen a real-tourist deal like this.
The lawsuit says the broker was in a bad position because he was in the process of buying the property.
The Leber house is a two bedroom condo, so it was already “an excellent home,” the lawsuit says.
Michelle said she was shocked.
“This is a home I’ve lived in my whole life, and this is just an incredible deal, it was not even close to that,” she said.
The court papers said the broker also told Michelle that she was paying more than he was making.
She was surprised, but not surprised.
“This was a bad deal for us,” Chris Leer said.
And the court papers say Michelle Leger was also surprised to find that she would have only $800K to put down and $800,000 in mortgage insurance, so the broker “stated that he was only offering a $700k down payment.”
The Lebers said they decided to keep their home, because they were happy with the deal they were getting.
The case was not a surprise to Michelle Leberg, who said she’s always been “happy” with real estate deals and was “always looking to get into the property market.”
But Chris LeBer said, “I am disappointed in the situation that we had to go through.”
The Lebers are seeking unspecified damages.
The Miami-Dade County attorney’s office declined to comment on the case.