An investor I am working with had a signed contract and gave 5k down for a property then she turned around and sold it to someone else and now he can’t find her.
I’m going to check the public records in the county she was in, talk to the neighbors to see if they know where she might be and call everyone in town with the same last name to ask them about her.
What other ways can I possibly find her without paying an investigator/skip tracer?
How much does an PI or a skip tracer cost for this type of thing?
Thanks for any advice/info!!!
its not clear what happened here.
you say an investor with a signed contract assigned it to someone else.
where do you come in and why do you have a problem with this?
I’m sorry, I worded that really wrong. No wonder I didn’t get any response.
A lady agreed to sell her property to an investor then backed out of it saying she was not in a state of mind to sell it. (Her husband recently passed away)
They were going to let her out of the contract and just wanted the money they gave down returned.
By accident they found out she had sold it to someone else (within a week of saying she didn’t want to sell it) and when they tried to contact her (for the down payment) they could not find her.
I don’t have anything to do with this deal. They just wanted me to see if I could find out where she is. I did and they have a PI working on finding out what assets she has so they can place a lien on one of them for the down payment that was not returned.
I hope that makes more sense.
If the investor got the proper papers signed… then how could she sell it to someone else. doesn’t the investor have a claim to the property. Anyway, if she has cashed the check fidn out what bank cashed it and then have them provide an address.
She is in the middle of a public process selling her house. Have all the papers been signed? Call the title company. Who did she sell the house to? Talk to those people. Have your friends lawyer send notices to all interested parties. Depending on the papers she signed she may be guilty of fraud. Talk to the neighbors.
I’m pretty sure what she did is considered fraud.
The investor had a signed purchase contract with her. There was never any paperworked signed saying they released her from the contract but she did sell it to someone else.
Thanks for the info.
This deal would have made them over 100k after they resold it. Since they had a signed contract with her what do you think their options are? Can they go after her for their “loss”?
Can they “claim” the property since they had a contract to buy it?
Thanks
don’t know if they can claim the loss of 100k. they are entitled to their
deposit back. why didn’t they open escrow and deposit the money there?
if there was 100k profit in it, sounds like they were trying to scam the old lady
who turned the tables on them!
I don’t know why they didn’t open escrow.
Your intitled to your opinion.
I don’t think they were trying to scam her. Whoever did buy it paid the exact same amount they were going to so it probably was not that low of an offer.
Thanks
oops, didn’t mean to offend.[not that i have anything against offending people! ;D ]
this could’ve been a legit deal.
LOL, no offense taken
This was a legit deal. They had all the paperwork signed with her that they were suppose to, she backed out of it and kept their money. They have a lawyer working on it so we’ll see how it works out…
ALWAYS…always escrow the contract and earnest $$$