88-year old shoots Realtor over payment dispute

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."

Foreclosure Stories

    Desperate Measures: In late October, June Reyno chained herself to her Mira Mesa, Calif., house to try to stop a bank from taking it. "I'm not going to walk away from this home quietly," she said. Her family was unable to keep up with mortgage payments after refinancing the home and facing money problems.


    "We are very proud of this home, and we are not going to allow the bank to just take it away from us," Reyno told KFMB in San Diego. "This was going to be our home until we died," she said. Watch the video from CNN.


    Foreclosure Angel: Tracy Orr, left, and Marilyn Mock embrace after Mock bought back Orr's home at a foreclosure auction in Dallas on Oct. 25. Mock had never met Orr before but decided to come to her aid after seeing her in tears at the auction.

    WFAA-TV in Dallas, TX

    Orr, here at the auction, told WFAA-TV in Dallas-Fort Worth that she went to the sale to say goodbye to her home. "It means so much to all of us," Orr said. "It's not just a house."

    WFAA-TV in Dallas, TX

    Mock started bidding on the home, above, even though she had never even seen a picture of it. She ended up getting the property for less than $30,000. "I just kept asking [Orr], 'Is it worth it?' She said yes," Mock recalled.

    WFAA-TV in Dallas, TX

    Mock said she will meet with Orr soon to work out the details of the purchase. Why would she go to such lengths for a total stranger? "People need to help each other and that's all there is to it," Mock said.

    WFAA-TV in Dallas, TX

    Prospective buyers listen to bidding at the auction. Nationwide, more than 2,700 people lost their homes to foreclosure each day from July through September. Watch the video from CNN.

    WFAA-TV in Dallas, TX

    Halting Evictions: Cook County Sheriff Tom Dart of Illinois told reporters Oct. 8 that his deputies would stop evicting people from foreclosed properties. Why? He said tenants who had paid their rent are suffering because of property owners who are delinquent on their mortgages.


    Authorities said the owner of this building in Albany Park, Ill., took the rent money from tenants and fled the country without paying the mortgage.


    These families had faced eviction before authorities stepped in. "I don't think this is fair because we don't know what happened," said one woman. "We were paying rent every month." Watch the video from CNN.


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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