I have received an alarming increase in calls from home owners trying to sell their homes themselves who have been legally scammed by greedy real estate speculators.  Mostly these situations have occurred when the homeowner is experiencing money problems, but not always.  And not all real estate investors are bad, many are honest, reasonable people; but a few bad apples are really tarnishing the reputation of the group as a whole.

I have reviewed several situations where Contracts for Sale and Purchase or Option Contracts are totally unenforceable; some because of vague or missing terms and some because of insufficient consideration.  I have seen investors purchase property considerably below market value; investors are not legally obligated to be fair or reasonable in their dealings with stressed out homeowners!  And at least one cheeky local investor purchases property subject to existing mortgages, which means that the borrower / former homeowner remains primarily liable for payment but no longer owns the asset!

If you find yourself in a jam and think you need to sell your house, I heartily recommend that you contact a couple of local real estate agents for a free market analysis so you can get a solid understanding of how much your property might be worth.  One of the greatest, even insurmountable strengths you can have in any negotiation is knowledge and the knowledge of how much your home might is worth is extremely important when considering your options. There are many reputable real estates agents, but I am a bit partial to this fine family owned brokerage: Lowe and Sons, Inc.

I would also heartily recommend that before you sign any offer you have it reviewed by an attorney, especially if you are trying to sell your home yourself.  An hour or two of legal consultation is cheap insurance and could possibly save you from making an expensive mistake when dealing with some of the bad apple investors who are more than willing to benefit from your financial problems.