Richard M Powers

Mr. Powers held money in escrow for a home purchase. We, the buyers, had a signed contract on a home, pending inspections. We paid for two, certified inspections, a certified home inspection and a WDO (wood destroying organism) inspection within the legal time frame. Both inspections revealed many th...ousands of dollars worth of repairs (i.e. roof, HVAC, 4 active water leaks, wiring and piping, black mold in the walls, potential for lead paint, etc.) We immediately signed a Cancellation of Contract (within the legal time frame) however because the sellers weren't happy, they wouldn't sign. Mr. Powers wouldn't communicate with me regarding steps to be taken until a few weeks later when I looked into means of filing a complaint. He finally answered my call but wanted to "Interpleade" my case which would tie up the money in a courted dispute and "eat up the funds". Unable to answer simple questions of the escrow, or unwilling to help, I was disappointed in his holding of our funds. My Realtor finally obtained a signature and the money was released, but without that, we would have lost our deposit. This guy was no help, and we remained within the legal time frame of our contract. He never attempted to contact the seller to ask why they wouldn't sign.