There's always someone on the 'take' ~ someone trying to make a fast buck... to cheat the system!
How's this for a new scam:
REALTOR(R) signs up for REO properties and starts receiving listings. He targets a really nice, upgraded home with a pool, in a nice area, just freshly REO'd. Said agent finds a tenant for HIS property at $1250/month and moves ALL his furniture into the REO property. Firmly settled, offers start coming in, but he tells buyers agents that their offers have been unsuccessful as he has a higher offer (which he doesn't)!
This agent has lived rent-free, whilst his tenant pays his mortgage (and then some) for a year. Seems like he may have another year of free living before he has to find another REO to move into.
And all the bank cares about is getting an offer in line with their inflated list price!
His excuse? He is protecting the banks asset from transients and vandalism!
Let's hear your comments?
--
Althea Garner
Preferred Realty Executives (Florida and California) Your House Of Homes Online
DRE 01516817
772-626-1768
Search over 50,000 listings at my web site:
http://www.isellpslhomes.com
Women's Council of REALTORS(R): President - 2011 (Saint Lucie County)
VP Membership - 2010 (South Orange County)
Treasurer - 2008 (Coastal-West)
Webmaster - 2009 (Long Beach)
Editor - 2009 (Long Beach)
Education Committee - 2009 (California State)
Orange County Association of REALTORS(R):
Education Vice Chair - 2009
REALTORS(R) Association of Saint Lucie Vice Chair, Global Business - 2011 Love yourself-accept yourself-forgive yourself-and be good to yourself,
because without you the rest of us are without a source of many
wonderful things. - Leo F. Buscaglia via Rachel
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