...if you have super credit, a regular job (with 2 good 1040s for the last two years), are willing to sign a contract for a house for approx $500+ (for a very short time), are honest and could make $10K free and clear...would you do it?
-
-
sounds too good to be true
if someone is willing to pay you 10k to be on the hook for 500k, then there is a good chance you will be on the hook for 500kComment -
The question is whether the contract is worth $500. If it is and you get stuck with it, then you can turn around and sell it for the same $500. Obviously, I'm ignoring any illegality for the moment.Comment -
If it sounds too good to be true, it normally is.Comment -
$500 for 10k even if 70% chance take itComment -
Don't buy a house if you can't maintain it. Much easier to keep up when you rent.Comment -
No nuts, no glory!Comment -
Unless you can 1)secure a boatload of collateral or 2)arrange a buyer for the house (hedge essentially), stay away.Comment -
Short time = two weeks...
...basically you make $10K in 14 days (or less).
Comment -
It sounds good on paper until the 2 weeks pass and they become 2 months and then 2 years and you still haven't sold the house.Comment -
true that pavy
just the 6% commission on selling a $500k house (if you were stuck with it) is $30,000Comment