Sleaziest seller story ever?

[Josh Caldwell]

I was recently recanting the story of a sleaze bag seller, and it got me thinking. What is your best sleeze bag seller story.  

I have two to share one is mine the other came from a close personal friend. 

The one that is mine is a cautionary tale about doing a title search before you close.  

I had a duplex under contract to buy the property with subject-to terms. The property was worth $170,000 and I was buying at $120,000, so there was some equity in the deal. The loan was around $1200 PITI, and the current rents were $1000 and $900 with room to raise each side a little. So cash flow was there also. It was an ok deal. I did a title check when we signed the contract, but the seller couldnt close for another 60 days. No biggie. Then I did a second title check as a precursor to title insurance a week before closing. The dirt bag seller went and got a HELOC on the property for an additional $100,000. I have no idea what he had to tell the bank to make that loan but that is between him and the bank. Luckily I didn't close on that deal.

My friend was not so luck in his deal.  He bought a 4 unit with what appeared to be decent cash flow numbers.  The only problem was that the proforma rent rolls were pure BS. Two of the units were occupied by the previous owners relatives who had brand new 20 year leases for $1 per year.  I am not sure how that one turned out but I do know that a team of lawyers was involved. 

So what is your best sleeze story/ cautionary tale?