Home Selling in 55448>Question Details

Susan Mcderm…, Renter in Glendale, CA

Could an investor be scamming me on the sale of my home?

Asked by Susan Mcdermott, Glendale, CA Thu Feb 7, 2013

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11
It wouldn't be much of an investment for them if it were a great deal for you! The advantage they have is that they have the resources to make the home more marketable to command a higher price. If you can afford to do that, it might be in your best interest to give it a go. If not, and you need to move on, you may not have many options. Best of luck...
1 vote Thank Flag Link Thu Feb 7, 2013
Almost assuredly, their business model is taking advantage of people in need, so what would you expect. Do yourself a favor and have an attorney review any papers they give you to sign,. Better yet walk away from the deal or understand that investors are going to pay below market cost but can give you cash quickly.
1 vote Thank Flag Link Thu Feb 7, 2013
Susan, and investor is usually looking for what they would consider a good deal.
Could the investor be scamming you? Yes that is possible...because they are looking for someone in a situation where they are in a hurry to get out of their property.

It is in your best interests to be represented by an Agent that you choose for your self, not one recommended by or working with the investor. Maybe try an internet search for agents in your zip code area. I wish you well.

Shelia
0 votes Thank Flag Link Thu Feb 21, 2013
Yes, you should get help. Talk with a Realtor who knows your area. They will go over comps with you so you will understand market value of your home,
0 votes Thank Flag Link Sat Feb 9, 2013
Hi, Susan!
Well, sure, it's possible. I think you need to talk to an agent. Any agent would be willing to have a conversation with you about the real estate market prices in your area at no obligation to you. That will help you determine if the price you're being offered by the investor seems realistic or not.

Information is power.........

Good luck~
0 votes Thank Flag Link Fri Feb 8, 2013
I would speak with a qualified professional regarding your specific situation. It is too difficult to know for sure with a vague question. The federal government is cracking down on real estate professionals and investors that are taking advantage of certain situations. Like I said before, you need to speak with a neutral third party. If you have any specific questions, and are not currently represented by an agent, feel free to contact me at 763.238.8669.
0 votes Thank Flag Link Thu Feb 7, 2013
It is possible,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Thu Feb 7, 2013
Susan, we can answer general questions here, but this is specific to your property and your needs. California has a few different laws regarding closing and transaction details. Your own real estate agent will be your best bet for a first sort advice, and he or she can help you find a closing company or other professionals such as a real estate attorney to protect your interests. Good luck! Liz, 612-986-4105
0 votes Thank Flag Link Thu Feb 7, 2013
Just because you give an investor a good price does not mean they are scamming you. Am I scamming Bank of America when I buy a great house for my clients? I don't think so, but as is with everything in life there are ethical investors and really dirty ones.

The #1 rule is always know what you are signing, and that means usually having a 3rd party review the documents.
0 votes Thank Flag Link Thu Feb 7, 2013
Could an investor scam you? Of course they could but doesn't mean they are. Have some else review the paperwork and give you an opinion on the transaction. If there were more details it would be easier to give a few suggestions.
0 votes Thank Flag Link Thu Feb 7, 2013
You have to trust your gut and speak with a local attorney.
0 votes Thank Flag Link Thu Feb 7, 2013
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