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Today I’d like to tell you a story about why you should be wary of investors looking to buy your home.
I once knew this sweet, older couple who had some concerns about their home and their future.
The husband, specifically, was certain he would pass before his wife, and wanted to make sure that she would be protected at that time.
He wanted to be sure that when his time came, his wife would be able to go back to their old home country. Sadly, the man did pass.
As he wanted, I stayed in touch with his wife following his passing to make sure that she was taken care of. This is why I was so happy for her when I heard that a friend was going to buy her home. It was when I asked her for more details that I began to worry.
When the woman told me her friend was going to buy her home for $426,000, I almost fell out of my chair. Her home was worth at least $600,000, so when she told me her friend was coming over the next day to finalize things, I asked her to let me come over as well.
“If you get a letter from an investor, be very careful.”
I could tell as soon as I showed up that the woman’s friend was not happy I was there. He did his best to justify why her home was only worth the price he was offering, but ultimately I saw through his plan. I politely told him the reasons he was wrong and eventually invited him to leave.
Thankfully when I explained the situation to the woman, she believed my side of things. Afterwards, I helped her sell her home for $605,000. This ended up being a happy ending to what could have otherwise been a very unhappy story.
The point of all this is to be wary of investors looking to buy your home. An offer that’s far under your home’s value is always a red flag. If you get a letter from an investor, be very careful.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.