Home Selling in 60540>Question Details

Teri, Home Seller in Naperville, IL

Zenmd Real Estate Investments

Asked by Teri, Naperville, IL Sun Jan 25, 2009

An agent from Zemmd was here and offered to buy my home but as I understand they take over my payments until a buyer is found. He said they would be responsible for any repairs after date of closing. Anyone know anything about this company? Agent was from Westmont , IL. Offer was to take over payments until they sell it I think. Offer was for payoff for first and second with a small amouont to me at closing.

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5
This sounds like pure BS.

I would get everything in writing first and then have your attorney look at it...

If they object to an attorney, then you know for sure they cannot deliver what they say will...
0 votes Thank Flag Link Mon Jun 3, 2013
Others have asked similar questions on trulia.....
If it sounds too good to be true, remember it probable is not to YOUR advantage....
The company must exist as there are others who have asked if this is legitimate.......but
DO NOT SIGN ANYTHING before a trusted Real Estate Attorney has overlooked the paperwork.

You may also want to make sure that you KNOW what your home should be worth in today's market
before making any kind of decision.

At this time and the the way the economy is and the markets are often very different you need to connect with
a trusted, experienced area Realtor (if you like I recommend a partner agent to you!) and you MUST have
a Real Estate Attorney ....... I encourage this strongly because you are saying in your question
"Offer was to take over payments until they sell it I THINK ..." the words 'I think' tell me that you are not even sure what the terms are going to be....

So be safe and get a really good Realtor and a good Real Estate attorney before making any kind of decision.
Hope this helps and good luck to you!
Edith
edithsellshomes@gmail.com
0 votes Thank Flag Link Mon Jan 26, 2009
Teri
If it sounds too good to be true...it usually is.

I would ask a competent REaltor for advice. If you need a referral, let me know.
0 votes Thank Flag Link Sun Jan 25, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
I agree with Anna. Be careful of anyone and everyone. I tried to look up Zenmd REI and didn't have much luck. Don't sign anything about handing over your house payment before you have a lawyer look it over. A helpful website is http://www.hud.gov/local/il/homeownership/foreclosure.cfm
Please, feel free tocontact me wth any questions I am a veteran of shortsales.

Tim
titzgerald@c21proteam.com
815-353-1901
0 votes Thank Flag Link Sun Jan 25, 2009
Hi Teri,
This sounds very fishy. First you need to find out what your property is worth. I would ask for a copy of a contract, or any agreement, and let a real estate attorney take a look at it and make sure this is not a scam.
What is this Zenmd Investments group gaining from this transaction? Is your home worth much more than your existing mortgages???
Most lenders do not allow someone else to assume your mortgage, you can not transfer your note to a new owner. If they are looking to buy your property, let them get their own financing or buy cash!
Good Luck! Anna
Web Reference: http://AnnaNiklarz.com
0 votes Thank Flag Link Sun Jan 25, 2009
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