Realtors Beware of Fake Buyers

The interview with Superintendent Anne Petit was a huge success. She shared with me and about 300 other people how throughout her successful career serving the Ohio Real Estate community, has seen numerous times where an unlicensed, “fake” buyer will sometimes put a Realtor’s listing in contract, have no intentions of closing… and then try and re-sell the property while in contract…

This is a real problem and guess what… THIS JUST HAPPENED TO ME!!!

Recently I received a random call from someone claiming they had a property for sale.  They knew I buy properties for all cash and close quickly so once they got me on the phone, they began telling me all the great things about their house… They acted like they were someone who had the property in contract with the seller and they wanted to sell me the contract.  There is no crime/no foul in selling a contract but here’s the thing… This property was listed, and they falsely represented themselves to the listing agent as a buyer.  The listing agent changed the status on the MLS to ‘Pending’.

After their sales pitch, they said the house can be all mine for only $58,000… That’s a really good price for the area… Something felt funny about the caller so I kept digging… guess what I found?

“The listing agent changed the status on the MLS to ‘Pending”

I noticed the property on the MLS and realized immediately that the person who was trying to sell me the house was NOT the listing agent.. I looked on the public records and I saw they were not the owner either.

The listing agent happened to be someone that I have purchased properties from in the past so I got them on the phone.

It turns out the wannabe wholesaler was trying to sell this contract to me for $8,000 MORE than they were in agreement to pay!  UNREAL!

The Realtor and I waited a few days for the Fake Buyer’s contract to expire, I jumped in with a full price offer and guess what? We’re closing today!  I couldn’t be more grateful! The listing agent is happy as well..

They earned the full 6% because they represented me along with the seller and best of all… The Client got everything they were expecting and didn’t miss a beat!

Remember to avoid the “Fake Buyers” out there.  I’m a REAL Buyer and I’d love the opportunity to buy one of your listings or properties.  You can keep the full commission on anything you bring me and I promise not to waste your or your clients time.

Feel Free to Text or Email me if you have a property you would like to discuss or you’d like to set up a time to chat.  I’d love to work together!

Dave Payerchin
614-363-2883