Tuesday, November 22, 2011

Scam Alert!

Check out this BS

16475 Lake Knoll Pkwy lists as a short sale, it says poor condition but in the pic it looks ok. It lists cheap and goes pending pretty much immediately. It sells pretty cheap and the listing agent and buyers agent and the same guy (who'da thunk it). Now this is where it gets shady. 30 days later, it lists again for $160k more than it sold for, and the agent........ You guessed it, the same guy. But it gets better, the listing states the owner/seller is a realtard! Anyone wanna bet the owner is the listing agent? This looks like a perfect example of short sale fraud. He lists the property indicating it's a dog, gets it cheap and then turns if for a quick profit. And of course the lender takes a bigger loss than they otherwise would have. His asking price is pretty darn high and I doubt that it will sell for anything near that but even if it sells for $350k that's still a very healthy profit assuming he didn't actually need to do a major rehab.

4 comments:

Tyrone said...

Not a bad looking place. The fountain off on the side of property seems a bit unnecessary, though.

Lombardi Articles said...

I was in Miami last weekend and realtor after realtor was telling me that the biggest condo building bust in history has bottomed out and is rebounding with the U.S. housing market. Buyers are snapping up properties, one-third of them paying cash, and the best deals are gone.penny stocks

Dave Velasco said...

One must really be able to distinguish well a legal realtor from a fake one. With the current real estate market that we have today, there need to take some actions regarding this. A lot of buyers are also losing trust from real estate agents who are legal and really licensed due to this kind of scams.

California Real Estate License

Habib Ahmed Qureshi said...

As a Costa Rica Real Estate Expert I agree with you that it sells pretty cheap and the listing agent and buyers agent and the same guy.