Beware of These Bogus Home Sellers

Let me tell you a story about some people I knew who wanted to sell a house quick. For a variety of reasons they were super-motivated, perhaps the mostly intensely motivated sellers I've ever met. One day they gave me a call to come over and look at their house since I'm a real estate investor and I pay cash for homes regularly. They were hoping I'd be interested and figured they'd get a fast sale.

Turns out, although things looked good on the surface, and our motivated couple might very well have been on their way to a fast sale, there was one big problem. During my routine search of property records online, the recorder's office information revealed that these people were not the real owners of the house. Of course I got the legal owners' name gave them a call to share my interest in the house and my interaction with the people who claimed to be the property owners. They were astonished to hear my story.

The people living in the house were actually the tenants, and they were merely posing as owners to obtain an earnest money check so they could use the money to move away. Amazing, isn't it? When I explained their tenants' offer to me, the real owners were incredulous, but certainly glad I got in touch with them. Not surprisingly, they had no plans to sell the house at all.

Hearing this tale of woe may help you get a different perspective on your own situation. So many homeowners are feeling financial pressure and giving consideration to selling their houses these days. I thought maybe this story might encourage homeowners who are facing challenges. Being the legal owner of a house means you actually have a variety of options to sell a house quick, unlike the over-eager couple above.

One of your best options, the one most likely to provide you with quick cash in a very short time, is to call an investor who buys and sells houses for a living. Of course you could also sell your house "by owner," to save money and get the job done quickly. Or, like most people, you could list your house with an agent. Looking closely at all your options, it's clear that you have to make a decision based on what works for you, considering how much knowledge and time you have to invest in the job.


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Leo Kingston has been buying and selling homes in the Oklahoma City area for nearly 3 decades. His company, 18002sellhomes, offers house owners in the OKC area a method to sell a home quickly for cash without the need of a Realtors services.