BE HONEST AND OPERATE WITH INTEGRITY!!

[Jeff Filali]

BE HONEST AND OPERATE WITH INTEGRITY!!

Last year a wholesaler represented themselves as a "Cash Buyer Investor", locked up a property and the homeowners didn't know any better, they had the contract saying the "Cash Buyer" was going to buy their home and close in 30 days. So they purchased another home and moved prior to closing.

Closing date came and they hadn't heard from the "Cash Buyer", so they called and were told there was an issue with the title, and it may be a couple weeks. So, the homeowner paid the mortgage payment on both homes. 2 weeks go by, still nothing. Call again, and are told any day now. Another week, now they are told because of the title delay, the "Cash Buyers" had to redo some paperwork with the bank, and it caused a funding delay. So the homeowner pays two mortgages again that month....

These delays go one for 90 days with the homeowner paying two mortgages and the "cash buyers" kept delaying, saying they had funding issues, inspection expired, etc... Finally, the homeowner had enough and called the title company that they were told was being used. The title company said they've never heard of the "Cash Buyers", and didn't have any contracts on their property!!

Homeowner calls the "Cash Buyer" back furious. Is told, we thought we could sell it for you, but we couldn't, so we're going to have to cancel the contract!!

Fast forward 3 more months, and the homeowners were getting behind trying to maintain two mortgages, and were facing possibly losing the home and destroying their credit. BAD BAD situation...

They called me off an ad, and luckily I was able to go meet with the bank with them, and purchased the house before foreclosure. I was just happy to be able to help them. Then was able to turn around and help a single mom into buying the home after she had ruined her credit going through a divorce. I sold it to her and carried the note over 10 years.

The homeowners, and the new buyer have referred me many additional clients since this all happened.

I call that a WIN - WIN - WIN - WIN!! The homeowner got out from the very bad situation, the bank got paid in full without having to foreclose, the new owner got help getting out of renting and buying a home, and I'll make some decent money on the deal over time. These are the deals that remind me to be PROUD of what we do. Its a service that helps people if you're in it for the right reason.

Moral of the story...BE HONEST AND OPERATE WITH INTEGRITY!!

[Jay Hinrichs]

YUP no money wholesalers who cant close bring Zero value to anyone.