Years ago, before I even had my own brokerage, one of my co-workers got involved with two men who came to town saying they wanted to buy every inexpensive house in town.
In those days (1980's) we had plenty of them. Some were under $20,000 and in rugged shape. But they said they wanted them.
They wrote offers on several, but only got as far as closing on one. Naturally they wrote a personal check for their down payment. The transaction was being closed by a local attorney's office and the closer decided to hold off on finalizing the transaction until the check had had time to clear the bank.
Unfortunately, she didn't wait quite long enough. The check bounced.
The rest of the transactions never got as far as closing. Only as far as the seller's acceptance. Then these two left town and went back to Seattle.
What was the scam? We never found out, but the woman who had been working with them tried. She told me she was going to contact them somehow and find out because she wanted in on it.
Yep - she was a strange one. My broker's wife (and secretary) described her as someone who would "Tell a lie even if the truth would suit her better."
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