NONowner occ refi

[sellorbust]

What is the name of your state?GA

I'm selling my home FSBO and was approached by buyer/investor saying they want to close next week and they describe it as Non owner occupied refinance. Buyer mentioned something about needing the appraisal to come in at an amount that is 1/3 higher than our asking price and they already agreed to buy at our full asking price. Buyer said all we would need to do at closing was sign a quit claim deed and we would get our money. Something about this makes me nervous. Is this a legitimate deal? If they are trying to pull something on their lender, would I have exposure as the seller if I had no real knowledge of it, just a gut feeling?

 

[MortgageGuru]

Don't do it! Don't even waste your time with thewm trying to buy it. It appears to be either a scam or an investor trying to get something for nothing. Avoid it at all costs. Also, read the purchase contracts you are offered very carefully. There are a ton of ways you can get screwed by an investor who knows what they are doing.

 

[HomeGuru]

What is the name of your state?GA

I'm selling my home FSBO and was approached by buyer/investor saying they want to close next week and they describe it as Non owner occupied refinance. Buyer mentioned something about needing the appraisal to come in at an amount that is 1/3 higher than our asking price and they already agreed to buy at our full asking price. Buyer said all we would need to do at closing was sign a quit claim deed and we would get our money. Something about this makes me nervous. Is this a legitimate deal? If they are trying to pull something on their lender, would I have exposure as the seller if I had no real knowledge of it, just a gut feeling?

**A: they are trying to pull a scam and get 100% financing.