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Old 01-25-2007, 05:45 AM
twilightdiamonds twilightdiamonds is offline
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Join Date: Dec 2005
Location: Winnipeg, MB
Posts: 15
House Buying Scam?

My husband and I bought our new home last year, and rented out our existing house. Since then, we've had nothing but problems with our tenants and have decided to stop renting out the house and to just sell it. I've been seeing lots of ads in the local newspaper for people who buy homes for cash from you or take over the payments. This might be a route we are considering because we just want to get rid of the house, we don't particularly want to deal with using an agent and losing a large amount of money in the end. I want to know if people have been scammed at all by these people who purchase your home (whether by taking over payments or paying you out in cash etc) or if anyone here has inside info on how these things operate.

Thanks to anyone who replies!


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Old 01-26-2007, 10:54 PM
enlightenme007 enlightenme007 is offline
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Join Date: Jan 2007
Posts: 311
Re: House Buying Scam?

Quote:
Originally Posted by twilightdiamonds
My husband and I bought our new home last year, and rented out our existing house. Since then, we've had nothing but problems with our tenants and have decided to stop renting out the house and to just sell it. I've been seeing lots of ads in the local newspaper for people who buy homes for cash from you or take over the payments. This might be a route we are considering because we just want to get rid of the house, we don't particularly want to deal with using an agent and losing a large amount of money in the end. I want to know if people have been scammed at all by these people who purchase your home (whether by taking over payments or paying you out in cash etc) or if anyone here has inside info on how these things operate.

Thanks to anyone who replies!
The idea is okay, their are people that scam at everything, so be
careful.
Remember you are selling to them, so if they want it they give
you a deposit, you don't give them anything until you are at the
closing table.
If they are offering to take over the payments, without transferring
title then remember you are still the owner. If they want to assume
your mortgage that is a different story and you have to check with
your mortgage company first to see if it is assumable. If not, then
the whole loan could be called.
If you do enter into negotiations and get a deposit, hire an attorney
to close the transaction for you.




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