88-year old shoots Realtor over payment dispute

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Police have arrested 88-year old South Carolinian Richard Blow and charged with shooting a Coldwell Banker real estate broker in a dispute involving deposit money relating to an investment property.

The shooting took place at Coldwell Banker United in Rock Hill at around 2:20 PM on Wednesday. Police say that Mr. Blow walked and began arguing with 68-year-old Jerry O'Neill in the lobby of the office before shooting him in the stomach. He then reportedly waiting in the parking lot for the police to arrive.

According to media reports, Mr. Blow's car is decorated with a license plate that reads "Let me tell you about my grandchildren."

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Details of the transaction that led to the shooting are not yet known -- when making an offer on a property, prospective home buyers typically offer "earnest money" and then make a larger deposit once there is a signed purchase and sale agreement.
If the deal falls through because of failure to fulfill an inspection or financing contingency, the money goes back to the buyer. If the buyer reneges for most other reasons, the seller keeps the deposit and the deal is off. This can sometimes lead to disputes, although guns are not generally part of the resolution process.

It's a strange and sad story -- perhaps a microcosm for a stressed out real estate market. Mr. O'Neill underwent surgery and was transferred to intensive care on Wednesday night.

Real estate agents: Have this post ready next time someone claims agents don't do enough to earn there commisions!
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