Jul 16, 2010

This sign should really say ...

This sign should really say "Suckers Wanted". They claim to be offering a house for sale for $275,000 and that it is actually worth $439,000.

I've got news for them. A property is only worth what a buyer will pay for it. Unless there is some idiot investor out there willing to pay $439k for the property, then it isn't worth that. Just saying that your home is worth a million dollars doesn't make it worth a million dollars. And the county tax records are not an accurate appraisal of the true value of a property.

The reason they only want 'cash buyers' is because:
  1. No one can get a loan on the property because it isn't worth what they are asking for it, and/or
  2. This is a scam and any bank or mortgage company will recognize that.
These signs pop up occasionally all over North Dallas and will be followed by the hand scrawled "real estate apprentice wanted" signs ... which is another scam altogether.

[where: 75230]

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