Honest Company or Scammers? You decide - Part II

    Last week I received the email that is below.  It's about my “Honest Company or Scammers? You decide” post.  I've reprinted the letter, with permission, removing the names protect the writer's identity.

I was so glad to read this blog on Joanne Pearce. I have been searching for info of any kind for months. I have a house for sale and it has been on the market for over a year. I received an offer from Chi Rho Investments in March that was a great offer. I spoke with 2 different people. Eric and Joanne Pearce. The said they originally were Pearce Enterprises. I was trying to get them to give me any info that I could check their validity. They said they were not able to give out that info but they were on public record in the state of Florida so I could find out that way. I spoke with the bbb and could find nothing. I spoke with the chamber of commerce. nothing. I spoke with the board of realtors. No one had heard of this company. When I questioned them and said I would love to do business with them if I could find just one piece of positive evidence about the people or company they withdrew the offer. I was glad. 2 weeks ago I was contacted again about the same house which is still for sale. This time it was Matthew Pearce and Ann Tate from RidgeCrest Ventures . A Florida Company. The offer was very good and I have until Sept 7 to let them know if I want to move on to the next step. I received a second notice yesterday from Ridgecrest wanting to know if I had any questions about the offer. This time it was signed by Joann Pearce. How in the world can we get this company investigated? I have some computer knowledge but not enough for this. Thanks for your help.

    Here are a couple of the Red Flags that I see in this offer.

1. Anytime you get an unsolicited offer from an individual or company your antenna should go up.  Not because it could be a scam, but because you know you are dealing with professionals.  If you are dealing with professionals, you need a professional on your side too.  Also in today's worldwide market place where we have scammers sending messages out looking for people to nibble at the hook, we need to be especially diligent to make sure we are dealing with honest and real companies/people.
2. The company changed their name.  Most companies try to hold on to their name for dear life.  It's their business identity, it's branding, it's just smart business….unless you are trying to hide something.  Also, if you are forced to change your name, you usually try to get something as close to the original as possible unless you have huge amounts of money at your disposal for a marketing campaign to announce to the world your new identity.  If I were Pearce Investments and I needed to change my name, I would not have chosen Chi Rho Investments.  I would have gone with Pearce Enterprises, The Pearce Group, or just Pearce, Inc., something that keep the identity, and thus the reputation of the company, around.  It appears that Eric Pearce and Joanne Pearce, formerly of KACW Investments, WH Investments, In Faith Properties, and Pearce Investments, does not follow the same thought process I do.
3. Any company that tells you they can't give you their company information is trying to hide something, or they don't have a company.  I'm not sure which it is,  but I wouldn't deal with them.  Companies have to file paperwork to be legitimate companies.  There are business licenses, professional licenses, tax records, etc.  Asking to see copies of licenses is not too much to ask of a company that wants to enter into a business relationship with you.
4. They pulled out when pressed for company info.  When you have a company and are doing business with people sight unseen, your company is your lifeblood.  You should have a vast amount of independent information available for people to access.  How else would they be able to know that Chi Rho Investments or RidgeCrest Ventures is a true, respected, honest, legitimate company?  Following that train of thought how will they know what to expect from Matthew Pearce, Joanne Pearce, Eric Pearce or Ann Tate?  When the company refused to give me the information I would be glad they walked away.  I would also believe completely that I just saved myself from a headache.
5. The last set of red flags I will lump together.  Having had the company pull out in the manner they did would keep me on guard.  Being contacted by another company soon after having the first one pulled out would have the cynic in me out in full force.  When one of the principals has the same last name as the previous company my sonar would begin blipping like I was running straight into the Rock of Gibraltar.  It could be coincidence but the cynic in me wouldn't allow my brain to accept it as such.  I would think something is up.  Lastly, after dealing with Matthew Pearce and Ann Tate during the negotiations receiving an offer letter from Joanne Pearce would send me through the roof.  Do you think that Joann Pearce, Helen Pearce, Helen Joanne Pearce…you get the idea and Ann Tate are the same person?

    Could it be possible that Matthew Pearce, formerly of KACW Investments, WH Investments, In Faith Properties, and Pearce Investments, has begun operating under a different name also?  Could he be Eric Pearce or has another Pearce has decided to get into the family business?  From the letter above, it appears that there is now an Eric Pearce working with Joanne Pearce at Chi Rho Investments.  Could this be the same Joanne Pearce that was working at KACW Investments, WH Investments, In Faith Properties, and Pearce Investments?  I know the Real Estate Market is bad, but they were switching companies around like this at the height of the Real Estate Boom!  If the people and the companies are truly separate then Joanne Pearce is moonlighting over at RidgeCrest Ventures along with Matthew Pearce and Ann Tate.  I'm still waiting for Helen Joanne Pearce to get involved in all this.  That cynic in me is screaming.  I don't know if I should believe him or not but he thinks it's possible that KACW Investments, WH Investments, In Faith Properties may have reincarnated themselves yet again as Chi Rho Investments and RidgeCrest Ventures.

    As a final note, I'd like to talk about doing your due diligence.  When someone has a property for sale for an extended period of time it can seem like a Godsend when an offer finally does come in on the property.  Especially in this market, the temptation to jump at an offer will make many people forget to do their due diligence on the person or company making the offer.  While everyone should be on the guard in all real estate dealings, ones like the offer above should send red flags.  Luckily, the person involved knew how to handle everything right from the start by asking for company information and going to check them out.  They may have saved themselves a huge headache by taking a little bit of time to investigate the company “Chi Rho Investments” and subsequently “RidgeCrest Ventures”.

    I'm continuing to gather information on these companies and people.  I've actually got a couple leads that I am following.  I'll keep everyone posted as I get more information.

web log for us - those that know to do their due diligence on all possible business partners. 

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