Disciplinary Action

The Real Estate Licensing Board revoked the broker's license of MARTHA E. EDWARDS of Mocksville upon finding that Mrs. Edwards had failed to present an offer to purchase to a seller and then informed the buyer that the seller required additional money for the property. After the buyer assented to the higher price, a survey determined that the property in question 'contained more land than originally contemplated, whereupon Mrs. Edwards falsely informed the buyer that the seller required the acreage to be reduced or the sale price increased. The buyer then opted to cut off four acres from the land that she was purchasing, which acreage Mrs. Edwards acquired as part of a trade with the seller.

The Board's decision was issued in June of 1981, but enforcement was stayed while Mrs. Edwards appealed to Wake County Superior Court. The Superior Court upheld the Board's decision in November 1981, but the matter was further stayed pending appeal to the North Carolina Court of Appeals which recently unanimously upheld the Board's decision (See "Court Rules on Multiple Violations," page 6).

The Licensing Board revoked the broker's license of JOHN G. SHAW of Raleigh upon finding that Mr. Shaw had placed an earnest money deposit on a commercial property in his operating business account, converted the funds to his own use, and then issued a worthless check when called upon to refund the deposit.

The Licensing Board revoked the broker's license of ROBERT L. MAXEY of Spring Lake. Mr. Maxey was convicted in federal court of making false statements to the Veterans Administration in connection with real estate transactions.

The Licensing Board suspended the broker's license of COLIE L DOOLEY, JR. of Wilmington for two years upon finding that Mr. Dooley had represented himself to be the owner of a home when in fact he was not, and that he had sold the home to two different purchasers.

The Licensing Board revoked the broker's license of DANA K. BUNTING of Greensboro. Ms. Bunting was convicted of twelve counts of forgery.

The Licensing Board suspended the broker's license of STUART F. COOKE of Ocean Isle Beach for two years (six months' active, eighteen months' probation) upon finding that he had misrepresented to two sellers that he had sold their property when in fact their properties had noi been sold.

The Licensing Board suspended the broker's license of JOHN M. COOKE of Ocean Isle Beach for six months upon finding that he had misrepresented to two sellers that closings would definitely take place on proposed sales of their properties, when in fact the closings were never scheduled. The Board suspended its order and placed Mr Cooke on probation for two years.

The Licensing Board suspended the broker's license of JAMES C. INGELS of Wake Forest for two years (six months' active, eighteen months' probation) upon finding that Mr. Ingels had withdrawn funds from his escrow account as "advance commissions" without the knowledge or consent of either the buyer or the seller. The Board further ordered Mr. Ingels to take the trust account course given by the Board's auditing staff.

The Licensing Board suspended the broker's license of DEBORAH SHABAZZ of Greensboro for six months for failing to place an earnest money deposit in a trust account. The Board suspended its order and placed Ms. Shabazz on probation for one year and required her to take the trust account course given by the Board's auditing staff.

The Licensing Board suspended the salesman's license of RICHARD H. FORREST of Lexington for 30 days for furnishing a home purchaser incorrect information as to the boundary lines of the property. Relying upon this information, the buyer purchased the property only to discover after closing that he did not own all of the land which he thought he was purchasing.

The Licensing Board suspended the broker's license of REBECCA M. CASHMAN of Laurinburg for one year for violating the statutes and Board rules concerning trust accounts. The Board suspended its order and placed Ms. Cashman on probation for two years and required her to take the trust account course given by the Board's auditing staff.

The Licensing Board reprimanded broker LAWRENCE R. PHILLIPS of Lake Lure for enlisting the services of an unlicensed person to assist in the sale of real estate.