Homeowner Beware of Investor Offers
By Jan Green - Scottsdale, AZ, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
(Value Added Service, 602-620-2699)
With low inventory, everyone is receiving offers from investors to purchase homes even when those home owners haven't listed their home(s) for sale. Phone calls, text messages, and letters in the mail. Sometimes it's a daily occurrence! Due to our low inventory, a predatory practice has surfaced. Investors are approaching home owners directly to purchase their homes and the contracts used aren't approved by the Department of Real Estate. Sellers are unwittingly going along with the sale without being protected during the transaction because the contracts don't cover language protecting them from a variety of pitfalls. The other aspect of these investor purchases, is the investor buying their home is also pre-selling their home before the sale closes to someone else, and all witho...
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