I have a really dumb question? My son was gonna buy this house but it has been one thing after another.See >

Question

Started out it had a Auction sign in the front Yard, then it has a FOR SALE BY OWNER sign in the yard,then It had a FOR SALE by owner Owner Financing sign in the Yard, Then it had a River Valley Sign in the Yard, Then it had a Lease sign, Then a REMAX sign. Even after they had moved in the REMAX sign stayed in the yard well then His Wife told me they were giving 80,000 for it. Well its a nice house we thought. But They started out to pay 699.99 a month then it was 799.99 then 810 then the contract was drawn up it went to 860 a month then to 924. We had the lights turned on and then some thing happened and the electric company came out and pulled the Light Meter said the wiring was below code for our town the Bills were running to high we found out it was a fire hazard. Then while I was there waiting with the Electric company I find out the thing has 9 layers of Shingles. Which will not pass HUD inspection.My son is buyer his wife is CO-Signer the guy will only talk to my sons wife >

I see all sort of RED FLAGS. But my daughter in law is mad Because He will not Fight to keep the house.I think if the Guy Who owns the House Would get the roof on it and now we Got him to fix the wiring It would be all right. But my son says he is finished.He is tired of the Crap with the House. That when she pulled up some kind of a good faith thing on the computer about the house they have marked it up to 200,000.00 But I found the HOUSE Listed in the REMAX Book listing it for 64,900.00 I asked them if they are getting it from TOM FLORES for 110,000.00 why has REMAX got it listed for 64,900.00 we asked TOM he Laughed and said OH THATS WHAT THEY OFFERED HIM FOR THE PLACE. That he has more than that tied up in the house for everything. If it is Listed for 64,900.00 in their Book Then ISN'T That what the selling Pricwe is Is Tom Trying to Screw them or what. Then Tom has them Deposit the Money for Payments in his account. I feel it's Shady. Am I right?

They moved in In August My son refuses to Sign any papers he Keeps telling me that Tom tells him one thing and his wife something else all He seems to be worried about is the money gonna be in my account by the 5th of each month. The 1st papers they showed me the payment they were told would be 699 then add 100 dollars for Paper work I told him yes they always *** that then the Guy told the kids that he would pay Closing cost and Contract fee Now On the Papers the Closing costs are on their paper work. I told them NO If He is Paying them Then It should not show up on Theirr Contract and Tom told them he would pay Taxes and Insurance But now that also is on the papers thery showed me. Repairs show up on thier papers and If Tom is doing owner financing why are the Kids Payments jumping around so much. 1st I was told 699 then 799 plus 100 then I see papers now it's 924. I told him not to sign anything to tell Tom to Shove IT. But Tom call my sons wife 3 or 4 times a day while she is at

Answer 1

the other 2 were right somewhat. But first you must read over the disclosure. If this stuff was stated in the disclosure there probally isnt much you can do and the amount they are paying seems to be a variable rate. Read over the contract. How long have they been living there? It seems like quite awile now if its jumped around that much. It may be too late already. It will be best to get a lawyers opinion on everything there are basic laws in every state but every state has different laws too thats why real estate agents can only sell in one state not every state. There are state and national exams they have to take but the national exams just say the laws that are national laws.

Answer 2

First of all--SEE A LAWYER who works with real estate scams. I can see nothing legitimate in all I just read. Just like cars have lemons, I think this house is a lemon,too, and that is why the previous "owners" wanted to sell it. They probably got scammed, too. I'm sure your daughter-in-law wants to say she and your son are homeowners, but they should not be taken like they are now. I wouldn't live in a fire hazard if I were PAID to. Our house had only 4 layers of shingles and were told that was way too many layers, so 9 would be even worse.
The guy talks only to your daughter-in-law because he can sense she is gullible to accept anything he says as true fact. From what I read on just a few of these websites/reports is that Remax likes to work with homes on their way to, or are already in, foreclosure. They buy them cheap, and then jack the cost up to ungodly prices, so they can turn around and buy more lemons to keep the scam going.

Here's a few websites about real estate scams:

Watch Out For Real Estate Scams - Forbes.comReal estate is where all the money is, so it's also bound to be where the con artists are, too.
www.forbes.com/2003/03/13/cx_bs_0314home.html


Real estate scam emerges -- 'Crash and inflate' method generally ...The real estate scams involve unscrupulous real estate agents who conspire with appraisers to fraudulently declare artificially high market values for homes ...
www.nctimes.com/articles/2007/06/03/news/top_stories/22_42_166_2_07.txt


Real Estate Scam: Have I Been Ripped Off?Have I been ripped off? A reader suspects that she has been victimized by a real estate scam, and Ilyce Glink suspects that she's right.
www.thinkglink.com/Real_Estate_Scam.htm

www.ripoffreport.com:
You searched for: Remax
Approximately 45 Reports Found
(I read a few of these reports and they sound just like what your son has gotten into. These reports are nationwide, and date back at least 2 years. You might want to go to the R.O.P. website and file your own report.)

Answer 3

Lets take this one step at a time. Multiple signs means multiple attempts at selling, all failed. Multiple figures for a mortgage payment is likely due to the difference between estimating (good faith estimates) interest and tax rates, loan amounts, etc and the actual numbers being considered. Most every house needs repairs of some sort, but 9 layers of shingles?!?!? Unbelievable! Buying a house is a very emotional event and if a buyer feels jerked around on the deal, like your son, you have to respect their feelings despite the fact that their feelings may be getting in the way of identifying a good opportunity. The difference in price is common because houses are often originally priced differently than they are contracted for purchase because improvements can be made after it is originally listed.

The bottom line is that "TOM" is the seller or the agent representing the seller and is only working in the best interest of the seller and quite possibly acting as their mortgage broker too. Your son needs to find a Realtor to represent his interests only who will be able to protect your son and shield him from the emotional rollercoaster effect of buying a house. The Realtor would be able to show your son the house's true market value and not solely rely on what the seller or sellers agent says it is worth.

Answer 4

Your son can use the disclosure act to get out of the deal. In real estate the seller must disclose any and all problems with the home which may require repair. Home wiring and the roof both are items that must be disclosed to the buyer before the closing. Failure to do so can have the sale nullified. I say you need to get a lawyer for this and quick.

Answer 5

where was the home inspection? Appraisal? There is no such thing as a co-signer in a sale. If you have a contract that sets the price, that is what a contract is all about. Your son need a lawyer not Yahoo!Answers.

Answer 6

I think you son needs a real estate attorney. I agree that something isn't quite right.

Answer 7

Walk away, tell him just walk away this has problems written all over it, something is not right. Gut feeling, but that gut feeling has protected me many times.

Answer 8

RUN