Skip to main content

I've been looking up countless properties on the city's records system and cannot tell you how many instances of blatant fraud have popped up. Properties bought for $875k and sold via "short sale" to friends or RELATIVES for $300k. Properties sold for $700k, then $300k, then back up to $750k, then AGAIN for $320k. Massive, massive equity stripping and these people are making HUNDREDS OF THOUSANDS OF DOLLARES PER PROPERTY. WTF is going on in this city?
Original Post
quote:
Originally posted by the new yorker:
I've been looking up countless properties on the city's records system and cannot tell you how many instances of blatant fraud have popped up. Properties bought for $875k and sold via "short sale" to friends or RELATIVES for $300k. Properties sold for $700k, then $300k, then back up to $750k, then AGAIN for $320k. Massive, massive equity stripping and these people are making HUNDREDS OF THOUSANDS OF DOLLARES PER PROPERTY. WTF is going on in this city?



................................................
That's why a lot of small mortgage companies are going out of business. The bigger companies who get funding from their 'parent' companies are staying afloat but have tons of credit losses and their 'allowance for loan losses' are going through the roof.
quote:
Originally posted by the new yorker:
quote:
Originally posted by Mad Max:
Guess you have to move out of NY then. Aren't all NY people crooks?


no, actually MOST are hardworking, decent, honest people.


Really? I thought all the NY Guyanese brokers were crooks, thieves and liars! I find this confusing. You from New York?
quote:
Originally posted by the new yorker:
quote:
Originally posted by Mad Max:
Really? I thought all the NY Guyanese brokers were crooks, thieves and liars! I find this confusing. You from New York?


~sigh~
*newsflash*
Not everyone who lives in New York is real estate broker! Did the lightbulb go on yet?


New Yorker, Maxy light bulb blow Big Grin
quote:
Originally posted by the new yorker:
quote:
Originally posted by Mad Max:
You buy up any?


no, it's difficult to do anything without knowing a crookish broker. i'm not willing to commit fraud and break laws.


TNY

I suspect the low esteem you have for realtors & brokers are not without justification. The prospect of easy money can be an irresistible lure for some - those lacking strong ethical and moral moorage. However from my personal experience, I seriously doubt that the majority of brokers & realtors like the rest of humanity, falls under this category.

Now if you are really looking for an honest broker, despite or public brawl and guerrilla sniping, I would have no reservation in recommending our own braggadocios Kidmost. After all those public pronouncement by him, I am ready to put my head on the block that the kid is a pillar of virtue when it comes to Real Estate. Just let me know if you decide to go with him, so I can look forward to my 25% referral. Wink

Add Reply

Post

×
×
×
×
Link copied to your clipboard.
×
×