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I always received letters from people who wants to buy my house in Phoenix AZ. Are they really trust

  • June 16 2012 - Lathrop
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Many investors target out-of area owners as some of these lose interest in owning a home far way from where they live. I would not trust anyone who does not want to work with an escrow and have title insurance. The best way to sell this home in AZ is to contact an agent in Phoenix to get started. - Brad Young
  • June 18 2012
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Profile picture for Connie Klemme
I've personally received some that were clearly a scam, they usually came with email and phone number and the person wanted to send a cashier's check and close this week.  They wanted to send a check for the entire purchase all at once, no inspections, and wanted me to have the title work done but didn't want to provide any info to the title company, didn't want to the cashier check sent to title company, wanted it sent to me.   If they have the money to pay the whole thing down right now, they have smaller amount to pay EM and who cares what name is on the cashier's check.
They didn't want a contract, just wanted to show up and exchange a deed for the check.- so what happens when the check is bad!  esp if it is an over seas bank.  

anyone sending a letter, if they are legit, will still work with the complete process of an escrow compnay that holds the money and ensures it is really there.
  • June 17 2012
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When I closed my grandfathers estate I was surprised to see multiple letters from an individual wishing to purchase my grandfathers home. As he had bought at an advantageous time there was lots of equity (at the time) in the home.

I've always wondered if he was targeted for these letters due to his equity stake or his advanced age. I'm glad he didn't take the letter writer up on their offers as I'm sure he might've been taken advantage of by a possibly unscrupulous person.
  • June 17 2012
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I believe they are sincere, however, likely their motive is to purchase your home below market. Their hope is that you are not in tune with the market and you are willing to negotiate principal to principal with no professional guidance. I receive these letters from similar type buyers for the rentals I own and it is nearly the same letter from every party.

So technically not a scam but they are just hoping to get a good deal off a non savvy seller. 

It is highly recommended to direct them to your Realtor and if  you do not have one, locate one and have some comps pulled on your home so you can get the proper value should you entertain an offer. 

Kevin R Kieffer, Broker Associate, Danville, CA
  • June 17 2012
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Profile picture for Connie Klemme
probably not.there are a lot of scams out there and it's hard to pick out what the scam is but if someone has sent you an email or a letter and they want to buy your house without looking at it (i am assuming this is the case) then it's very likely a scam.

there is the rare ocasion that someone does this, so if you think it's legit, reply and tell them that you requre an offer in writing and once there is an agreement and legal contract in writing with proof of funds, you requires an earnest money deposit to be made to the title company which will be held until closing and you will not close for at least 15 days or however long it is that the title company needs to confirm that the funds are good.  (wire transfer is probably better).

best of luck to you.
  • June 16 2012
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