Unethical Wholesaler Trying to Steal a Foreclosure Deal

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Unethical Wholesaler Trying to Steal a Foreclosure Deal

Mali S.
Investor · Winchester, VA · Member since 2017 · 3 posts · 0 votes

Have any of you ever experienced getting shadowed by an investor/wholesaler/realtor at the public auction and try to steal the deal from you? What to do with a wholesaler/realtor who sneaks into the occupied foreclosure home and told the home owner to sell the house to her in a higher price than what is finalized/ratified at the trustee sale? This is happening to me recently and the home owner  is trying to stall the foreclosure process.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y

I commented on your other thread.. sounds like in your state there are upset rules... and or redemptions.. foreclosures require big boy and big girl pants.. nothing unethical about trying to upset you .. as long as its legal nothing wrong with it.

I know there are some crazy rules in north Carolina when I was contemplating getting set up in charolotte to buy courthouses steps and I waffled and then decided to go to GA.. were there is no upsets.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    I commented on your other thread.. sounds like in your state there are upset rules... and or redemptions.. foreclosures require big boy and big girl pants.. nothing unethical about trying to upset you .. as long as its legal nothing wrong with it.

    I know there are some crazy rules in north Carolina when I was contemplating getting set up in charolotte to buy courthouses steps and I waffled and then decided to go to GA.. were there is no upsets.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    Mali also the reason the pro's in states with redemption rights usually won't bid on a house they don't already own the rights to.. I know in Orygun that is the case.  precludes the real estate pimpers from screwing up your deals.

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  • Mali S.
    OP
    Investor · Winchester, VA · Member since 2017 · 3 posts · 0 votes
    9y

    Thanks Jay. It's so funny how creative we, as a creature, will do. However, I did a research and found that Virginia does not have post-sale statutory right of redemption in Google, so I am seeking legal advise from my attorney. Hmm I wonder if I should offer coffee and donuts at courthouse steps...

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    Well then if there is no upset bid type situation and there is no right of redemption

    and you bought the property at the court house steps.. then whats the issue.

    someone talking to the hold over owner big deal.. let them talk all they want you own it.

    your next step is if they won't move is to simply file for eviction.

    not sure why you would spend the money on an attorney.. and I am not sure why you would buy courthouse steps foreclsoures if you don't know this VERY basic information..

    unless of course your not exactly relaying how this is really working.. we see posts all the time on BP where the info in the original post is only half the story :).

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