RealtyWise Real Estate Solutions

Donn Dunn owner of Realtywise made an offer on my house which resulted in a contract around Aug 6,2011. At the point in time of the contract, he stated the he would put down 20% and finance the rest. When he made the offer, there were other offers in line which he was well aware of. We started moving forward as normal, but as time went by, an appraiser never came to appraise the value of the house. This was odd and did not seem to match up with the timing of the contract. My realtor called Donn Dunn, about 2 weeks prior to closing and found out that Donn had changed his mind on the 20% down and was having trouble getting financing for a 95% loan to value loan. As such, the contract was terminated (which was upsetting, but probably OK). The next day, we put the house back on the market and recieved another offer. In parrallel to this, we also had discussions with Donn Dunn regarding if there was any other way to move forward with the sale as we were less than two weeks away from closing. Donn said that all he needed was for an owner finance of 15% and the bank would finance the rest of the loan for him. My realtor discussed this with Donn's bank and the bank confirmed that this was the case. We also made it clear to Donn, that we had another offer and needed to decide between the two. Donn wrote a new contract (remember that he is a realtor) and we came to an agreement on the new contract. Because we had this contract, we went back to the other perspective buyers and todl them we had accepted a different contract and asked them if they would be willing to take a backup position, which they declined. 24 hours later, Donn decided that he no longer wanted to do the contract, without any circumstance change. I am being told that in Colorado, a buyer can do this with no repurcussions, including that they get their earnest money down. For a realtor to do this in my opinion is extremely unethical. I would never do business with Donn Dunn in any capacity again. I believe the majority of his business is property management. I would recomend that you beware.