The Seattle are is worried that seniors may be taken advantage of by house flippers during the corona virus. The core issue involves real estate wholesalers who might be under paying or taking advantage of seniors with unsolicited offers to buy their house. Some argue it's a fair transaction if the owner agrees to sell. Others think the practice is predatory.
Wholesaling occurs when a buyer makes a deal to buy a house then sells that contract to another investor frequently an actual flipper who will repair/renovate. They call it assigning the contract. Some wholesalers focus in on seniors or properties that have been paid off.
Problems/issue arose in Atlanta when a senior was found roadside with all her belongings after selling. The buyers came everyday for a while trying to get her to sell. Similar constant offers in Seattle area.
https://www.seattletimes.com/busine...virus-fear-to-target-seattle-area-homeowners/
https://www.wsbtv.com/news/2-invest...dvantage-of-elderly-home-sellers-/1010860933/
Wholesaling occurs when a buyer makes a deal to buy a house then sells that contract to another investor frequently an actual flipper who will repair/renovate. They call it assigning the contract. Some wholesalers focus in on seniors or properties that have been paid off.
Problems/issue arose in Atlanta when a senior was found roadside with all her belongings after selling. The buyers came everyday for a while trying to get her to sell. Similar constant offers in Seattle area.
https://www.seattletimes.com/busine...virus-fear-to-target-seattle-area-homeowners/
https://www.wsbtv.com/news/2-invest...dvantage-of-elderly-home-sellers-/1010860933/
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