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#450932 - 03/01/16 03:48 PM Future new owner showing house before closing...?
itsanss Offline
Junior Member

Registered: 03/01/16
Posts: 2
Loc: OK
I'm selling a house that I have owned for 60 years. Clear title, no liens, has been paid off for decades.

It is being sold by me, the owner, and no realtors are involved.

The house is currently under contract by an "investor". The house best suits a "flipper" as it is need of serious work.

We are still over a week away from closing, but the buyer is already conducting open house and is showing the property to potential buyers. My family and I have been bothered constantly by people coming and wanting to see inside the house. I tell them the truth that the house is under contract and send them away. The guy that it's under contract with that we are supposed to close with in a little over a week has signs posted literally all around town advertising the house.

Is this normal practice??? For someone, that's not a realtor, to be showing a house that he doesn't even own [yet]?

The house is empty with no one currently living there, but it's starting to [censored] me off with all the activity there. Caught a guy yesterday climbing in through a window and going inside the house because he's interested in buying it but missed the first open house. [censored] if you ask me.

Thanks!!!

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#450940 - 03/02/16 12:06 AM Re: Future new owner showing house before closing...? [Re: itsanss]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7745
Loc: Vermont's North-East Kingdom
Sounds like you're a FSBO selling to a StrawMan who's desperate to find an actual Buyer to actually take ownership on Closing Day. He probably had someone lined up . . . . and that one went sour.

Do you have an Attorney or at least a Broker involved representing you? If not, NOW might be a good time to retain Counsel !

Are you holding a Good Faith Deposit or Earnest Money; actual money that has cleared your Bank ?

What you're experiencing often happens with vacant properties . . . . seldom is a scammer (Investor) so bold as to attempt to find a replacement Buyer while you're still living there. It appears that this guy wouldn't recognize a legitimate Buyer if he met one; that's why you're encountering these people viewing your house by crawling through windows . . . . crooks only know other crooks.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#450942 - 03/02/16 12:36 AM Re: Future new owner showing house before closing...? [Re: itsanss]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2245
Loc: Outer Banks
Change the locks now while you still have control.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#450943 - 03/02/16 12:43 AM Re: Future new owner showing house before closing...? [Re: Vermont]
itsanss Offline
Junior Member

Registered: 03/01/16
Posts: 2
Loc: OK
[quote=Vermont]Sounds like you're a FSBO selling to a StrawMan who's desperate to find an actual Buyer to actually take ownership on Closing Day. He probably had someone lined up . . . . and that one went sour.

Do you have an Attorney or at least a Broker involved representing you? If not, NOW might be a good time to retain Counsel !

Are you holding a Good Faith Deposit or Earnest Money; actual money that has cleared your Bank ?

What you're experiencing often happens with vacant properties . . . . seldom is a scammer (Investor) so bold as to attempt to find a replacement Buyer while you're still living there. It appears that this guy wouldn't recognize a legitimate Buyer if he met one; that's why you're encountering these people viewing your house by crawling through windows . . . . crooks only know other crooks. [/quote]


Thanks for your response.

Yes, FSBO. I told that exact thing to other family members. That there's a chance he has $0 and is lining up a buyer to pay his part and then make a little in the process.

No attorneys or brokers or realtors involved. It's just us and him.

Never got any earnest money. The house is so cheap we didn't feel it was necessary and the closing was set up two weeks from signing the contract. Thought it was going to be a fast and easy deal.

House has been vacant for four years now. Had we any idea that, "Buyer shall be entitled a key and be entitled access to show partners, lenders, inspectors and/or contractors. Buyer may place appropriate sign on the property prior to closing for perspective tenants and/or assigns." meant what we've gone through this week we never would've signed it. I could understand having a contractor come by and maybe even another person or two. But this is full blown open house with droves of people coming by. We spent entire week there removing last of personal items and every 15 minutes someone was coming by. We just keep telling them that the house is under contract. Thank goodness we got all personal items removed before people were being let in and breaking in.

Going to be a long nine days until closing....if closing even happens at this point...

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#450945 - 03/02/16 01:02 AM Re: Future new owner showing house before closing...? [Re: itsanss]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7745
Loc: Vermont's North-East Kingdom
It sounds like your "Investor" doesn't have any "skin" in the game, and nothing to lose if he can't produce a legitimate Buyer . . . . quickly.

If you don't have an Attorney involved for you, who's going to prepare the Warranty Deed and other Closing Documents . . . . the Investor? Who's going to review them for accuracy ?

Why not visit the local Police Department and discuss your situation with the Desk Sergeant . . . . these scams often become prevalent in a local area, and are often well known to the Police (after the fact), and then the perp moves on.

Doing business like this without any Earnest Money is wishful thinking . . . . you're like vulnerable little grapes sitting there fit for the plucking. This is not the way to save money ! (or headaches).
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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