City of Austin vs. "Predatory" Flippers/Wholesalers
The City of Austin recently passed a resolution to "educate homeowners who could get taken advantage of by low offers, with the promise of quick turnarounds."
According to this story from KXAN, "The resolution will provide resources for homeowners, many elderly and low-income families, who the city says investors prey upon to sell their homes, "through high pressure, deceptive, and/or exploitative tactics." The same people who may be struggling to stay in their homes to begin with."
The resolution calls on the city manager to launch an educational campaign including:
- Best practices regarding educational and marketing campaign strategies
- Outreach activities in areas where populations at risk are being targeted
- Potentially include a hotline to refer homeowners to a “Real Estate Agent List” and a list of legal resources
- A campaign work plan that includes a timeline for implementation and identification of both public and private funding options and potential partnerships
