Probably a year ago, someone posted a house for sale on Facebook. Since it was a place I recognized, I was interested in reading about it. Something I noticed right away is that the picture showed the whole house. It was a duplex, and 1/2 the house is occupied. The description made it sound as if the house was a single family dwelling, and that the picture was what the buyer was getting. It wasn't.
The first thing that I noticed was that they were attempting to attract people who could not get traditional financing. They did the financing. In fact they insisted that they do the financing. They didn't accept a bank mortgages. They said that they were trying to help people who struggled, whose credit might not be good enough to qualify for a mortgage.
In other words, they were targeting desperate people.
The other thing that I noticed is this. The house is very run down. Part of the purchase agreement was that the "buyer" needed to sign a paper agreeing to do repairs on a scheduled basis in addition to paying that 'low, low house payment'. (Spoiler: it was not a low payment. While I cannot remember what it was, it was every bit as high as paying rent.)
What made me sick was this: the sheer number of people wanting to know more about this. Scores of comments.
I put my own comment on it. I said, "Do NOT enter into an agreement with these people. Basically, this is a very run down house, and they are looking for other people to do the renovations for them. Not only that, they make you sign a time line of the repairs to be done, and make it clear that if you do not keep up with their time line, you will lose the house. I will bet money that the intention here is to get their house fixed up at no cost. I will also bet money that anyone entering into an agreement with this company will never own that house. This is a very unethical situation. Before you sign anything, you need to take the paperwork to a lawyer."
Of course the people "selling" this house were upset about this. They launched into me saying that they had been in the business of "helping people move into home ownership" for many years. I looked up their business license and called BS on that. It was a relatively new company.
They tried to tell me that I did not know how buying a house works. (HA!) I told them that we'd been buying and selling houses since 2008 and I knew exactly how it worked. I also said, "Okay. if this is on the up and up, I want to buy your house. I won't need to finance through you. We will purchase in cash."
I waited. No response.
"Proof of funds available." Again, no response.
So I posted the name of our lawyer and his phone number. I urged people to refuse to sign anything without having a lawyer look the paperwork over, pointing out that no lawyer would say that it was a good idea to pour money into fixing up a house that was not even in your name and wouldn't be in your name for many years.
I was blocked. But I kept an eye on that duplex and saw that after a few months, they found someone to move in.
I've been doing a lot of walking, all over town. I really try to get in at least two miles a day. Last weekend, I had Tim drop me off on the west end of town and I walked home. I walked by that house, and I saw a young couple with two small children loading up a shabby truck and a U-haul trailer.
I had so many questions. But I talked to the children who were playing on the sidewalk, and kept on going.
How do people sleep at night?
The house next door to us is a rental. Back in the 70's it was owned by a single mother of 3. She wanted to sell the house and called a "realtor". He made her an offer and she took it. . . And began renting. He would make promises. A kitchen window was broken and it would be fixed before they moved in. It was still broken 3 renters later. Each renter would be told that they could buy the house on "land contract" and part of their rent would go to the down payment. There was never any paperwork on this. After a year or two he would raise the rent and there would be a squabble. And the family would move out and another family would move in and tell me the same story.
ReplyDeleteThen he messed with the wrong people. They were so happy to get a chance to purchase the house. Nobody could tell them a thing. They planted bushes in front, bought a small tree that they planted to shade the back yard. They were not afraid to invest in the house because they were "buying it". They even replaced the hot water tank. Then whatever happened. I watched them move. And once the house was empty, they came back and tied ropes to the truck and ripped out the bushes and the tree. And then ripped out the hot water tank and gosh knows what else. They left with the hot water tank and whatever else to to take to the scrapyard. The landscaping was left in the front yard.
A few days later the realtor's wife drove by. She was an acquaintance and came to my door to see if I saw anything. I said yes, the former renters ripped out the bushes they planted. She couldn't believe I hadn't called the police. I told her I did not want to get involved in a civil dispute. She was not happy with that answer.
Honestly, we were laughing our heads off. Shortly after they sold the house. Unfortunately to another landlord.
There are some really unethical landlords out there. Truly.
ReplyDeleteTalk about exploitation. As you said, I don't know how these people sleep at night. Sorry that a family ended up being duped as they will suffer in due course.
ReplyDeleteThat's the part that bothers me the most. There are children involved.
DeleteGreed, greed, greed everywhere. Sickening indeed.
ReplyDeleteI don't understand how this is legal, and yet...a person can draw up any terms they want in a contract. As soon as people put their names on that paper, they are bound by it, legally. They have no recourse.
DeleteThis is absolutely sickening. Preying on people’s desperation just to get free renovations?
ReplyDeleteI live in a pretty mean country these days, Asep.
DeleteIt is sad when people are so desperate that they will take on anything that sounds, and is, too good to be true. Unscrupulous landlords take advantage of those in need.
ReplyDeleteYes. I was walking yesterday with our new tenant. She was saying that she planned to go to Rent-a-Center to see if she can get a recliner. I looked at her aghast, and she immediately knew why. She said, "Well, they would deliver it." She thought 18 months of payment was worth getting something delivered (she has no vehicle). I said, "We have a truck. Find something and buy it outright. We will go get it for you." People make short term decisions with no regard to the long term consequences.
DeleteDebby, I was selling an almost new smaller refrigerator that belonged to my grandmother. A lady came to look at it and said, well it was kinda small. She said she was currently renting one from Rent-a-center. I asked her how much she was paying - $25 a week. I was selling it for $50. I explained to her that it was the same price as 2 payments and then she could save her $25 a week until she could buy a larger one. It was like a light bulb. People just don't think.
DeleteYou know, that's part of it, I suppose, but at some point, I think that people get to the point where they are ashamed to ask for help. I also think there are those charming people who turn a request for help into an obligation. It's complicated, I suppose. I really do try to see need, and if I can, step in to volunteer. There is a difference.
DeleteThat really is criminal.
ReplyDeleteIt ought to be, but as soon as the paper is signed, there are no legal grounds to void it.
DeleteGood for you. So many hoops to jump through. They know that someone might be desperate enough to agree to their demands. Dodgy dealings indeed.
ReplyDeleteAnd they always do. There are plenty of desperate people who will see this as their chance to own their own home.
DeleteSo sad that people don't know their rights, and are desperate enough to risk this kind of situation. Thank you for speaking up.
ReplyDeleteHome ownership is a huge carrot to dangle in front of people who have dealt with unethical landlords for all their lives and have no hope of getting out of it until they can manage to own their own home.
DeleteThe "man" at the "top" has made criminal behavior acceptable; we live in their world; they do not live in our world - the world of integrity, ethical behavior and common decency.
ReplyDeleteIt sometimes feels that way. That's why I think that it is so important that each of us make a commitment to integrity, ethical behavior, and common decency. It's never been more important than it is right here, right now.
DeleteI don't understand people who can screw over another human being. It's disgusting.
ReplyDeleteAgreed, Pixie. Agreed.
DeleteIs that even legal?
ReplyDeleteAs soon as the person signs, agreeing to it, it is. It shouldn't be. It's predatory as hell.
DeleteThere should be some way to go after this - I wonder if there is a consipiracy to defraud aspect? Or the Better Business Bureau, if they are incorporated in any way. Or civil suit using the FB ads as evidence of deception? Of course all that takes legal savvy and $ which their target population doesn't have.
ReplyDeleteCeci
I am watching the place carefully. I want to see the sign go back in place, with the name of the business. It's not deception Ceci. They don't even attempt to hide what they are doing. They laid it out in the ad.
DeleteVery sad and sickening.
ReplyDeleteIt sure is, Dave. There are a lot of businesses who have made a living preying on desperate people. Rent to own furniture, pay day loans, and unfortunately property owners.
DeleteMAGAts..... apparently they sleep and continue on the next day, hurting any that would get in their path.
ReplyDeleteWhat kind of people never give a thought to doing a good turn, offering a hand up, making the world a better place AND belive themselves to be devout Christians. Quite honestly, there are people who believe that their prosperity is evidence of God's approval of them. As in, when God approves of you, he gives you stuff.
DeleteCrooks can be very creative and have very hard hearts. Does that remind you of somebody we know.
ReplyDeleteHmmmm...let me think here...
DeleteI hate to think what it will be like in this country when all these young kids have grown up with a lying president who cheats people he hires, never stands behind his word, stabs anyone in the back, displays selfishness and cruelty as a virtue, hawks golden tennis shoes and his own importance, and proves intelligence is a bad thing.
ReplyDeleteOh gees...his latest is perfume. 45-47. Who ARE the whack jobs falling for this?
DeleteThat might not be the wackiest things I’ve ever heard, but it has got to be in the running.
ReplyDeleteAnd people take that chance. That is the saddest part of all.
DeleteI think I love you, Debby. You have the ovaries of a warrior queen!
ReplyDeleteNow this made me laugh. My ovaries are not much good at this point.
DeleteYou might add his info to your blog, and we could all rush him and clog his page with too many replies. It was just a thought, I don't know if that is possible even, Ellie
ReplyDeleteThat is actually not a bad idea.
DeleteCondensing it down to your tenant’s issue is exactly right. I don’t have a truck, so I pay extra. I don’t have a shed full of tools, so I pay more to someone put it together for me. I can’t lift/carry large furniture, so I pay and probably tip for delivery. I can’t buy it from FB Marketplace for $75; instead I have to buy new from the retailer in order to get those benefits. The neighborliness that you and Tim exhibit is so valuable in your community!
ReplyDeleteBonnie in Minneapolis
We all need to look out for each other right now.
DeleteWicked, these are wicked people. Thank you for telling the renter you'd go get the recliner. Getting furniture in the house is a big problem for many people. Tucson FB market place is weird, so much of the furniture is advertised as new, drop shipped to you, and I guess it's too bad if it's no good upon arrival.
ReplyDeleteI don't buy anything on marketplace that I cannot see first. A lot of scams happening.
DeletePredators
ReplyDeleteThere is no other word for people like that.
DeleteAssholes everywhere.
ReplyDeleteYes. You are right. But if you look you will see the good. It is still there.
ReplyDeleteWell, good for you for calling their bluff. The fact that they wouldn't engage with you when you offered cash shows that selling the house wasn't the point at all, was it? Too bad you were blocked -- does that remove your comments from the post? At least you probably warned some people.
ReplyDeleteSo proud of you for Calling Out that Predatory Seller, so many Predatory Loans are also being made by Banks these days and as a Retired Bank Executive it makes me Sick to know how people are being exploited and the Law isn't doing much, if anything, about it. In fact, I'm pretty sure some Judges are aiding and abetting the corruption and have probably been bought and paid for by the Predatory Lenders to get the Judgments I see being handed out to further exploit the Victims of such practices.
ReplyDelete