Too many RED Flags!

[Kristi K.]

A wholesaler contacted me about this house they have under contract for $205,000 that they want to close on within a week for $220,000. The house is in my hometown, I'm very familiar with the area. The house is easily worth $305,000 and rents would be about $2,200 so at $220,000 it would be a great rental to add to our portfolio BUT, the contract says the buyer has to lease back to the original owner for 30 days and it will be sold sight unseen. The lady that they have under contract is not happy with the deal at all and has been fighting them for 45 days. Here is a picture of the front of the house. Would you walk away like I did?

[V.G Jason]

Quote from @Kristi K.:

A wholesaler contacted me about this house they have under contract for $205,000 that they want to close on within a week for $220,000. The house is in my hometown, I'm very familiar with the area. The house is easily worth $305,000 and rents would be about $2,200 so at $220,000 it would be a great rental to add to our portfolio BUT, the contract says the buyer has to lease back to the original owner for 30 days and it will be sold sight unseen. The lady that they have under contract is not happy with the deal at all and has been fighting them for 45 days. Here is a picture of the front of the house. Would you walk away like I did?

Even if the title was clear, and the original owner made some contractual mistake getting under contract with this creepy wholesaler I still would have passed. So yes walk away, the sign says it all if I am reading that right?

Life goes around, if you're uprooting someone that got tricked you'll get yours coming back to you later. It always works that way.

I'd smack the wholesaler across his face, too. Catch a buck, you'll catch a life if you play with people like this. I'd definitely shake the wholesaler down, let them know to tap out on it. If they don't heed the advice, just let them know good luck in life cause they'll need it.