After losing his job, an auctioneer with a history of questionable actions has been fired for mismanaging an auction for an estate liquidator.
The man, who has not been named, is reportedly under investigation for a series of actions that included selling homes without a mortgage.
The real estate firm had been looking to sell at least one home in the area, but instead, after a series and multiple bids failed, they found themselves at the mercy of a company that did not even have the ability to sell a home, and had a buyer in the process.
The company was actually buying the properties, but was not the seller of the homes themselves.
In addition to the mortgage sale, the auctioneer also allegedly sold a house that had been in foreclosure for a decade without even a mortgage payment, a breach of state and federal law, and a violation of the Fair Housing Act.
At least two of those homes have been sold.
The buyer of the property was eventually given a $10 million cash payment and then turned over to the state.
The other home was sold to a non-profit, which is in fact, the estate liquidation agency.
The auctioneer allegedly made a series with other auctioneers, who allegedly failed to sell properties at the correct prices, and to correctly bid, even though the auctions were closed.
The sale was then put on hold by a judge, who did not know that the properties were being sold by the same auctioneer, according to a lawsuit filed against the estate agency by the New Jersey Attorney General.
This is not the first time a realtor has been in hot water for mismanagement.
A real estate attorney who did work for the agency that was buying properties for the estate agent’s company in 2013 told The New York Times that he was fired after it was revealed that he had sold properties that were in foreclosure, and was paid back less than the actual amount owed.
At the time, the attorney said, the agent “had no idea” that they were being used as a conduit to sell homes in the state that the agency had not yet been able to acquire.
The attorney said the agent was given the task of selling homes in his jurisdiction, but he did not actually have the authority to do so, which the AG claimed was the result of his mismanagement and improper tactics.
That same year, the AG also filed suit against the agency, claiming that it was not doing enough to properly regulate the agency and its agents.
“We’ve seen the agency’s agents and real estate agents, in some instances, not only sell homes, but also to people who don’t qualify for mortgage assistance,” the AG’s office wrote in a statement.
“This is an industry in which many people lose out, and some are forced to use their real estate skills to keep their homes.”