Hi Im from MD too, I had one in Glen Burnie try to tell me there wasnt a second mortgage and they didnt owe child support ( it all came out in the wash and I didnt even bother my investors with the deal)...Is this what you meant? I'd like to know more about what happened to you that had you asking that...
Give us details or for instances.
All I can say, IS, DO YOUR HOMEWORK ( fieldwork) so you dont get caught in that trap!
Check out every info you can about the humans being foreclosed. Noticed I said humans. Humans can get very desperate in tough times. Hope you saw thru it all, blessings DecorDee
That would not surprise me if someone in foreclosure tried to blackmail you. We've got to remember that we're dealing with people under very stressful circumstances and at time people act a little "strange" when under pressure. All you can do is try to help and take what they have to say with a grain of salt. Most importantly...check what they say. They may either forget, lie, or not know.
Expect no gratitude, expect no loyalty.
You posted this on the foreclosure forum, so I'll answer you from that perspective.
Unfortunately sometimes sellers will look back with remorse. Not derected to the mistakes that got them into their problem. No, remorse because you, the supposed knight on a white horse, "took advantage" of their unfortunate situation and made megabucks which actually "belonged" to them.
You never know the true person you are dealing with.
This is why it so important that you explain each step to the distressed seller.
Even to the point of either giving them a chance to think it over or having them sign a document where they acknowledge their understanding of each aspect of the deal on a seperate line.
Your best allies are your code of ethics and the documents you use.
Cutting corners for a couple of thousand bucks opens you up to either angry letters from the seller's attorney, a summons from the State Attorney General demanding to see the colour of your boxers, or a prized timeshare in a condo of Club Fed.
Be aware that the Seller has nothing left to lose; you do!
Truth is strength, and it stops the barking dog from biting you.
It's all par for the course.
Happy investing.
The only people who get blackmailed are those that have a dirty little secret or two.
If you are doing straight-up business and are not lying to anyone for your bennifit (trying to get the property) or coersing, coaching your foreclosure customer into telling lies to lenders, messing with appraisers, paying for low BPO's, overstating the condition of the property, forging documents like a quit claim deed or any other, etc. etc.
Then you have no propblem and that is a mute question that need not even be asked.
[addsig]
I know of an investor that actually tapes the whole process. Identifying the seller and making him/ her sign a doc advising them that they were not forced or in any way "talked into" doing it. He then tapes the whole signing w/ witnesses and all.. I have always thought that was very clever an something to think about when I start closing my own deals. I think he started doing it because he got burned one time because a seller said it was not him that signed the docs... Go figure..
NO GUTS NO GLORY!
Hope it works out. If the person that is trying to blackmail you is trying to get you worried it probably won't go beyond that. Watch yourself and don't let him/her get the best of you...
It's still not clear to me how you are being blackmailed - if in fact you are, but I tend to agree with 'ol wheelerdeeler. Don't expose yourself to any blackmail and you haven't reason to worry about it. Of course, I don't know your circumstances. However, if you think a dog is likely to bite you, my advice is to spray it relentlessly with mace. And then kick it. Z
Lemme say, there is a difference between being blackmailed and being slandered or lied about. Are you saying that a homeowner is making things up and telling lies, and you are describing this as blackmail? You know the only real way to get "blackmailed" is that some has to know a real fact about you that you dont want to get out of the bag.
So, depending on what you mean will depend on what advice can be given.
[addsig]
A number of years ago in Ft. Lauderdale I was interested in a waterfront house with a price that was "too good to be true". So I let the deal sit for about a week as the seller was way to anxious to do the deal right now. The seller came across as loaded with money, other things to use money for, etc. To make a long story short he then threatens me with legal action if I do not do the deal immediately. Turns out that the DEA was snatching the house and everything else the guy had as they, the DEA, frown on drug dealers. Thats my blackmail story.
You missed the interesting part: What did you learned from that experience? If you purchased the property, the house would not be taken by the DEA, because they were after ... we know what. So what would you do if you got the same chance?
Omega1,The DEA can still seize the house if they feel it was bought with drug money. These people were probably trying to sell this house to get money to pay a good defense lawyer.
In fact I think you are right. Forfeiture and/or RICO will still applyeven if the prperty was sold. Never the less, If I was in the seller shoes I would be rather swimming back to Jamaica or other non US jurisdiction, (providing this is where they came form) then to waith for DEA agents to come pick me up. Forget the house.[ Edited by omega1 on Date 02/07/2004 ]
Hi Im from MD too, I had one in Glen Burnie try to tell me there wasnt a second mortgage and they didnt owe child support ( it all came out in the wash and I didnt even bother my investors with the deal)...Is this what you meant? I'd like to know more about what happened to you that had you asking that...
Give us details or for instances.
All I can say, IS, DO YOUR HOMEWORK ( fieldwork) so you dont get caught in that trap!
Check out every info you can about the humans being foreclosed. Noticed I said humans. Humans can get very desperate in tough times. Hope you saw thru it all, blessings DecorDee
That would not surprise me if someone in foreclosure tried to blackmail you. We've got to remember that we're dealing with people under very stressful circumstances and at time people act a little "strange" when under pressure. All you can do is try to help and take what they have to say with a grain of salt. Most importantly...check what they say. They may either forget, lie, or not know.
Ryan J. Schnabel
Expect no gratitude, expect no loyalty.
You posted this on the foreclosure forum, so I'll answer you from that perspective.
Unfortunately sometimes sellers will look back with remorse. Not derected to the mistakes that got them into their problem. No, remorse because you, the supposed knight on a white horse, "took advantage" of their unfortunate situation and made megabucks which actually "belonged" to them.
You never know the true person you are dealing with.
This is why it so important that you explain each step to the distressed seller.
Even to the point of either giving them a chance to think it over or having them sign a document where they acknowledge their understanding of each aspect of the deal on a seperate line.
Your best allies are your code of ethics and the documents you use.
Cutting corners for a couple of thousand bucks opens you up to either angry letters from the seller's attorney, a summons from the State Attorney General demanding to see the colour of your boxers, or a prized timeshare in a condo of Club Fed.
Be aware that the Seller has nothing left to lose; you do!
Truth is strength, and it stops the barking dog from biting you.
It's all par for the course.
Happy investing.
[addsig]
Blackmail???? Not possible.
The only people who get blackmailed are those that have a dirty little secret or two.
If you are doing straight-up business and are not lying to anyone for your bennifit (trying to get the property) or coersing, coaching your foreclosure customer into telling lies to lenders, messing with appraisers, paying for low BPO's, overstating the condition of the property, forging documents like a quit claim deed or any other, etc. etc.
Then you have no propblem and that is a mute question that need not even be asked.
[addsig]
I know of an investor that actually tapes the whole process. Identifying the seller and making him/ her sign a doc advising them that they were not forced or in any way "talked into" doing it. He then tapes the whole signing w/ witnesses and all.. I have always thought that was very clever an something to think about when I start closing my own deals. I think he started doing it because he got burned one time because a seller said it was not him that signed the docs... Go figure..
NO GUTS NO GLORY!
Hope it works out. If the person that is trying to blackmail you is trying to get you worried it probably won't go beyond that. Watch yourself and don't let him/her get the best of you...
Good luck,
Veronica
It's still not clear to me how you are being blackmailed - if in fact you are, but I tend to agree with 'ol wheelerdeeler. Don't expose yourself to any blackmail and you haven't reason to worry about it. Of course, I don't know your circumstances. However, if you think a dog is likely to bite you, my advice is to spray it relentlessly with mace. And then kick it. Z
Good Zach!!
Lemme say, there is a difference between being blackmailed and being slandered or lied about. Are you saying that a homeowner is making things up and telling lies, and you are describing this as blackmail? You know the only real way to get "blackmailed" is that some has to know a real fact about you that you dont want to get out of the bag.
So, depending on what you mean will depend on what advice can be given.
[addsig]
After all these posts, it would be nice to know what Chaz242 means by "Blackmail".
I was Blackmailed once but DNA set me free.
Dear chaz242,
Can you be more specific as to what kind of blackmailing are we talking about?
A number of years ago in Ft. Lauderdale I was interested in a waterfront house with a price that was "too good to be true". So I let the deal sit for about a week as the seller was way to anxious to do the deal right now. The seller came across as loaded with money, other things to use money for, etc. To make a long story short he then threatens me with legal action if I do not do the deal immediately. Turns out that the DEA was snatching the house and everything else the guy had as they, the DEA, frown on drug dealers. Thats my blackmail story.
Traderone,
You missed the interesting part: What did you learned from that experience? If you purchased the property, the house would not be taken by the DEA, because they were after ... we know what. So what would you do if you got the same chance?
Omega1,The DEA can still seize the house if they feel it was bought with drug money. These people were probably trying to sell this house to get money to pay a good defense lawyer.
In fact I think you are right. Forfeiture and/or RICO will still applyeven if the prperty was sold. Never the less, If I was in the seller shoes I would be rather swimming back to Jamaica or other non US jurisdiction, (providing this is where they came form) then to waith for DEA agents to come pick me up. Forget the house.[ Edited by omega1 on Date 02/07/2004 ]
thats why you shouldnt do a kitchen closing, and always get title insurance when purchasing a property.
Now I remember why I like to deal with banks and agents. It's safe!!!!!!!
Lori
[addsig]