Consumer complaint received 2015-06-23
Company: JPMORGAN CHASE & CO.
State: AZ
Product: Bank account or service
Sub-product: Other bank product/service
Issue: Deposits and withdrawals

Complaint:
I went into XXXX on the Internet on XX/XX/XXXX, bidded for a property I found to be a good fit for me and my family, I was the winning bidder on XXXX XXXX, 2015, for the house at XXXX XXXX XXXX in XXXX, XXXX XXXX, a XXXX with XXXX XXXX XXXX, belonging to Chase XXXX Bank, then on XX/XX/XXXX, I decided not to buy the property after doing a home inspection and notified XXXX and the bank, I was told by XXXX of the XXXX Escrow that the bank will not return the XXXX money of {$2500.00}, because in the contract I signed on XX/XX/XXXX, it states, " as is property '', and that the bank will not return it. I notified Auction.com on XX/XX/XXXX, of my decision not to buy before the bank finalized my bid on XX/XX/XXXX, a day after I cancelled the contract. This contract is void and null as of XX/XX/XXXX. The reason that I decided not to buy is the house is in very poor condition it has extreme structural damage, the XXXX XXXX to the XXXX side is off the hoist joints the house is falling down the walls at the top of the roof are being held by several wires from XXXX wall to the other, all the wood in the ceilings, floors and windows are full of wood destroying organisms that have consumed all the wood to the entire house, the trees in the front and back yard overgrew into the XXXX walls and the foundation, the roof is pooling with rain water at the XXXX side water is seeping into the walls and causing further structural damage, the floor in the living room to the XXXX corner is caving into the ground of the foundation, like I mentioned XXXX XXXX XXXX Escrow Company is saying that the Chase XXXX Bank will not return the Ernest Monies because it states in the contract I signed that I needed to take the property as is and do the Home Inspection before winning the bid. As a first time bidder in an Auction, I feel I was not given the opportunity to have a Real Estate agent represent me and XXXX. XXXX team did not go over the contract with me before pushing me to sign it and demanded I wire the Ernest Money of {$2500.00} to them immediately within XXXX hours it sounded like I would lose the bid if I did not do as they say. The Chase XXXX Bank did not finalize the deal until XX/XX/XXXX, I gave the XXXX Escrow Team notice on XX/XX/XXXX, that I did not want to pursue purchasing the house because it had too much damage and that I would not be able to repair the structural damage to the house. XXXX other thing I need to mention that is very important is that in the contract that I signed it states that the house is of, " fair condition and in need minor repairs '', that is fraud the house is in extremely poor condition and in need of major work it is in danger of caving in at any minute it needs a structural engineer to assess the damage to the walls, the floors, the windows, the ceilings, all the wood is full of wood destroying organisms that have consumed all the wood to the entire house, like I mentioned the floor in the living room to the XXXX is caving into the foundation, the wood ceilings are breaking off you can see the beams in the ceiling, the wood from the windows have pitted all the way around, worst of all there is an open Out House Hole in the backyard of house that is covered with a few boards and branches it is extremely dangerous for someone to fall in, the property is not gated the XXXX XXXX XXXX has been torn completely off and the stolen, the opened dangerous hole in the back yard needs be reported to the Environmental Department of XXXX County and to the XXXX Department of Health. All I want is my {$2500.00} Deposit back from XXXX/Chase Bank and XXXX Escrow Team. Sincerely yours, XXXX XXXX XXXX, XXXX

Company response to consumer: Closed with explanation