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Updated about 3 years ago,

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7
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M Allen
Pro Member
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7
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Wholesale scam? What do I do

M Allen
Pro Member
Posted

I just got served, Happy New Year.

 I purchased a duplex in the Tampa Bay Area in May of last year for the low 200's with a hard money loan that it is up in 5 months, when I purchased this, there was 20k in liens that I had to take care of as well. I also put another 20k into rehab to get it to be able to be rented. It has been renting for just under $3k for both sides for about 5 months now.

I just found out yesterday that the owner of the duplex prior to the owner I purchased the duplex from is claiming that the quit claim deed that was signed by her was falsified and isn't her signature. She is trying to get the property back. It appears that she may be telling the truth as the deed is signed in 2018 and notarized in 2021.

Upon getting served I had my Lawyer look into the guy that sold me the property and it seems like this is not the first time something like this has happened with him, it also appears that this guy knows the lady who is claiming that she never signed the quit claim and they lived at the same address over 10 years ago at the same time. I had my lawyer reach out to the guy I purchased from and he said he will pay me back my money without hesitation. This feels a little scammy and I'm not sure what to do at this point (Also note that the equity has gone up %25 since the purchase) 

Any advice you guys have would be appreciated and any advice on how to avoid this in the future would be helpful.

  • M Allen
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