Disciplinary Action

The Real Estate Licensing Board revoked the corporation broker's license of HOME SOUTH, INC. of Greensboro for making misrepresentations and false promises through agents. The firm collected "advance fixed-fee commissions" at the time of listing by guaranteeing that the fee would be refunded if the property was not sold. The Board found that the firm was subsequently unable to honor its guarantee.

The Licensing Board suspended the broker's license of WILL A. HUDSON of Raleigh for four months for making substantial and willful misrepresentations, making false promises and violating the Board's statutes and regulations concerning escrow accounts. By consent, the Licensing Board also placed Mr. Hudson on probation for two years wherein he agreed to report regularly to the Board concerning his brokerage and escrow account activity, and consult regularly with his attorneys regarding any complaints.

The Licensing Board continued indefinitely the suspension of the salesman's license of CARL E. HELTON of Charlotte upon finding that he failed to comply with the Board's previous Consent Order that he repay a $5,000 escrow deposit to the complainants (see Vol. 10 No 3 BULLETIN for previous report) Mr. Helton's license is not to be restored until he can demonstrate compliance with the Board's Consent Order.

The Licensing Board suspended the broker's license of DAVID M. McKINNON of Charlotte for sixty days for failing to place earnest money deposits into an escrow account on two occasions, and for altering a contract without the knowledge or consent of one of the parties.

The Licensing Board by Consent Order reprimanded broker ROBERT C. PRESSLEY of Clyde for returning an earnest money deposit to the buyer without the knowledge or consent of the seller, and for using an inadequate contract form that omits clauses that protect the parties. Mr. Pressley has discontinued use of the contract form.

The Licensing Board by Consent Order reprimanded broker CHARLES D. TARLTON of Conover for arranging for secondary financing in an FHA transaction without the knowledge or consent of the lender