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I had been emailing on and off with an asset manager Michael Salem on a Michigan property they had for sale. I made a cash offer only to be told he had offers over list price and to come back with my highest and best offer.

I watch the property on their website for the next week or two and then email to see if its still available and it is. I then am told the same story line about another offer on the table and the lowest they will take is an amount higher than the asking price.

I then watch over the next week and it never goes under contract so I emailed someone on their website only to be told its still available. As a full time investor and licensed realtor in the state of Michigan I won't be looking at any homes they have for sale or be recommending them to anyone.

Reason of review: Order processing issue.

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Lawrence B Emq

If you are really a realtor and investor as you say, you certainly should know better than this. I read their response to you, and they were a lot more polite than I would have wanted to be.

They were fair to me when I dealt with them. Had you gone back after the previous contract fell through, you might have gotten the bargain you had hoped for.

CastleRockREO

Sorry for your issue. Since we wholesale and list properties under market value, we often have multiple offers.We spoke with Micheal and he confirmed he received multiple offers and accepted a highest and best that went into contract and did not close.

After this Michael called/emailed all buyers, put back on the market and again received multiple offers. Again, every buyer had a chance to make a final offer and then the highest and best was accepted. From your reply, we can see Michael gave you the opportunity to submit a highest and best offer but you chose not to.

However, other buyers did submit a highest and best offer and it is now confirmed the saleclosed and property sold well over asking price.Our apologies of your misunderstanding. Our customer service and manager of sales are always available to speak to you, answer any questions, or to further explain our process.

Guest

Shady. Never return my Realtors calls.

Takes a lot of digging to find out who owns the home for real, after a month of chasing in circles calling many different numbers and leaving messages never returned, faxing offers, being told they have better offers. Months later the property is still on the market. They want the highest above list price, trying to convince you there are multiple offers. Most of the houses are in extremely ill repair, They list on their sight if you read it you may get a condemned house.

Questionable.

They are a very unprofessional business. If they in fact even are anything more than a scam.

CastleRockREO
reply icon Replying to comment of Guest-1470867

Sorry for your confusion, prior the property was owned by the bank that had many contacts/agents. Castlerock purchases from the bank, acquires then owns the property.

At this time we place signs with our website and phone number on the property. Then the property listed with a local real estate agent on Realtor.com and local MLS. In addition to this, the property is syndicated through Zillow, Craiglist, Facebook and other advertising venues. So in fact, when we own the property it should be very easy to find who's owns it and and how to contact.Many of our homes are distressed assets, as they are noted in every listing and description.

They are always priced to sell below market values, as weโ€™re able to purchase our properties at a large discount, passing massive savings on to our buyers. Due to this, we almost always receive multiple offers. Our asset managers give the property fair time on the market and then typically set a highest and best deadline.

Every buyer has a chance to make a final offer and then the highest and best will be accepted.You are welcome to view our website, or contact an asset manger to hear how it works. I think you will see from our better business standing, google reviews, website testimonials and positive feedback that we are in fact professional, fair, honest and ethical.Please let us know if you have further questions, we are happy to clarify any assumptions or confusion.

Guest
reply icon Replying to comment of CastleRockREO

I am having the same problem with the same guy (Michael) its been 2 weeks i havent been able to talk to him over the phone. I even offered the asking price that its posted all over the house just for him to tell me that he cant sell it (by email) i have called several times because i want to be able to understand more about the process but i havent been able to.

Guest

We had the same experience. We made a cash offer only to be told they had higher offers.

We then counter offered and were told that we would have to over over rhe asking price. We did that as well and were then told our iffer was rejected because they had higher offers. How do you list a price and then aske for prices over the listed price.

Shady deals. Sounds like a scam to me.

Guest
reply icon Replying to comment of Guest-1461122

Exactly! I am having the same problem right now!

I been calling this same guy and not once has he answer my calls, i even offered the asking price!

They got a sign all over the property with the cash price and the phone number! Its been 2 weeks and still havenโ€™t been able to talk go Michael.

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