They say buyers beware....I am thinking there is a real reason for this! I just came across a home that is a couple months from Foreclosure....they owe approx $10k in back fees/penalties etc...The same people have this home listed for sale as "FSBO" on the Internet....ok no problem yet.....
They are advertising they will carry the paper and no need to qualify etc...just need to make the payments....
Any guesses what will happen when the new home buyers move in and get all excited and "Think" they just purchased a home??? Can you imagine the look on the face of the buyers when the agent shows up at the door and asks them to move out as the BANK has just taken the home back!!!!
Even with a Wrap around mortgage the sellers will have to have enough money to cover what they owe to the bank in back fees/expenses etc AND bring their CURRENT mortgage up to date before they can EVEN come close to making it work....
BUYERS WITHOUT AGENTS/REALTORS....BEWARE!!!!
Why would you NOT want to have some professional representation for free as a buyer??
If someone doesn't want you to talk with an Attorney or Realtor find out EXACTLY WHY!!
We have noticed some real scams lately here in Redding....and it may indeed get worse!!
Regards,
Richard
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