August 30th, 2010:
Short Sale Schemes
This real estate scheme usually happens when the borrower owes more on the property than the current value. The borrower then pretends they have a financial hardship and can not make any more payments. Someone, an accomplice, who is working with the borrower submits a low offer to buy the property. The lender agrees with the short sale not knowing that it was all a set-up. The property is usually resold immediately for the actual value for a profit. If you suspect real estate fraud you can make a report with stopfraud.gov.
photo credit: TheTruthAbout…
How to Vet a Builder
For anyone thinking about hiring a builder for custom work, here are some points to consider:
- Hire a good real estate attorney who has experience with new-construction contracts, knows state law, and is familiar with the issues unique to the area in which the property will be built.
- Talk to other customers. Ask how satisfied they are with the builder and how his projects have held up over time.
- Investigate. Search the builder’s name and company online and make sure that there aren’t lots of complaints about him.
- Expect him to negotiate. In this market, a potential customer should be able to expect that a builder will be flexible.
Source: Thinkglink.com, Ilyce Glink (08/27/2010)










