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Old 01-31-2002, 12:47 PM
halohalo
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Investors fee for Broker


Hello,
has anyone heard of an investors buy out fee used in contingency of homes not being sold to a buyer, and being bought by an investment group.
I'm currently residing in Maryland and I am purchasing a new home. The selling agent has told me that if my home would not sell his investment group would come in and purchase the home. What he never told me was the fee that it would cost or if there was a fee associated with doing this. I had discovered this fee after reviewing the estimates given to me 4 months ago and the estimate given to me 3 wks ago. The only difference between the two was a $5000 investors fee for purchasing my home if my home didn't sell. After he ****suredly told me he would have my home sold after 3 times of being sold. Now I may be stupid but I have never heard of paying a fee for someone to buy anything from anyone. It almost sounds as if I will give them money for not doing a damn thing. If anyone has heard of this situation or been through this please respond. I would like to know if this is legal to do this for one becase A. I was told of this investment group coming to buy the house B. I was never told it would cost $5 grand for them to buy my house. C. It doesn't make any sense for me to give my money to someone who hasn't done anything.

Thanks
  #2  
Old 01-31-2002, 01:56 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Then you have alerted yourself to the scam.
There are some groups and indivduals that buy property at a heavily discounted price but the Sellers are normally in dire straits and in or about to be in foreclosure.
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