THIS SOUNDS CRAZY!!! RIGHT????

5 Replies

Hey BP,

I had an interesting conversation with a potential seller that I wanted to get some feedback on...

So I got a lead from ZBuyer that looked like a potentially great deal. 4/2.5/2 3000 sq ft home in a great school district which will sell for 465k-475k. So I immediately called the seller, he didn't answer and I left a message. The day after I called again and no answer, so I emailed him. He got back to me and said he wanted to clean the property out first before he showed it. I told him it was ok and he didn't have to clean it to show us because we buy as-is. He told me to come out and take a look tomorrow.

I noticed it was in pre-foreclosure and he owed 380k which he confirmed. He said he would sell it me for 250k-275k. I said we would like to buy it for around 225k, but he would have to come to the table with the remainder of the debt owed. He emailed back and said, "ok your wish is granted, $200,000 it is." I immediately told him to call me and he did. I said, "If you sell it to us for $200,000 then you have to come to the table with the remaining 180k and he said he would. So I told him I would come look at it tomorrow.

This sounds CRAZY!!! RIGHT???? Why would someone do this? Please someone explain this insanity to me haha... 

@Shawn Connors, hmm. This sounds too good too be true. Just do your due diligence before purchasing. 

@Mitchlyn D. I surely will.  My partner has been in the game for a long time so he is meeting the seller with me.

Interesting to know what the outcome will be. Do keep us updated on this post!

No scam.  The family was very strange!  They didn't realize what was going on and they may have not been in the right state of mind if you know what I mean.  I am currently in the process of trying to work a short sale since they owe so much.  Trying to communicate with them has been a disaster, so we will see...  

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here