BS Figures By Unlicensed Brokers...But They Have A Disclaimer!

[John Thedford]

I continually see lots of these scammers with total BULLoney claims. I just reviewed one website that proclaims they bring buyers properties at 30-50% under market. They have this nice little disclaimer at the bottom of their site: "All properties are sold for cash or hard money. Buyers responsibility to do your own due diligence and verify all information. Prices are NET to seller with buyer paying all closing costs. Opinions of value / rents are given as a courtesy and no guarantees are expressed or implied. Our properties move fast so contact us quickly if there is a property you want to purchase."

I went to view one of "their" properties today. TOTAL disaster. Deferred maintenance problems from hell. Owners of the house stated the unlicensed brokers put down ZERO earnest money. So, the frauds have NO LEGAL INTEREST in the property. I am reporting them to our state regulators tomorrow. They are marketing this house for over 170K. It needs a complete rehab, lots of exterior deferred maintenance fixed, the location is horrible with exterior obsolescence (in my opinion), and any investor would be NUTS to pay even 140K IMO. The frauds website claims to bring the properties at 30-50% UNDER market value. NOT ANYWHERE TRUE in this case. BUT--they have that nice little disclaimer...hey--we may be lying--so don't count on our experience, professionalism, or integrity!

So--as a COURTESY...they mislead buyers! I am fully starting to understand why most of these frauds don't want a RE license. They would NEVER make it in the business if they had to operate honestly!

@Kevin Siedlecki