Dear Mr. Wallace,
I am writing to inform you of very unpleasant experience I had with your company and one of your agents working for you.
I am a family physician and am looking for a MOB for purchase.
When 1940 building on 116th come into market, I placed a LOI after touring the building.
I was told that there was a higher bidder and the owner went the other potential buyer.
But we were the second highest bidder, and promised that we are next in position if this buyer pulls out.
I learned that the buyer did pull out, and I was very hopeful that I would finally have my building as I was next in line.
Brandon your agent stated that we need to send in another LOI with current date to make it more of a formality,
but assured us that our offer was going to be accepted.
2 days later, he told us there are 3 offers on the table, and he would get back to me when the owner makes his decision.
As you can expect, he didn't pick me.
Now, this might all be legal in real estate practice, but I believe business such as your depend on reputation in the community.
This type of tactic to string along a potential buyer and making empty promises just to have my LOI and using it
against other potential buyer is dishonest and shows lack of integrity on your company's part.
If you don't have a reputation of honesty, integrity, and trustworthy company in the community, what do you have?
This might have been one person's action but reflects on the whole company.
As the CEO of the company that bears your family name, I thought I would share with you my experience.
As a business owner myself, I would like to know when a patient is being taken care of to my standard from my staff.
As I am well connected with the physician community and with several looking for properties for lease and purchase, I will not be
recommending Wallace Properties to do business with.