Posted by Griffith on March 07, 2006 at 13:27:54:
I’ve noticed several folks in my community that find properties 10-15% under market, make full price offers, then get appraisals for full value and pocket the 10-15%.
They call this 10-15% (-closing costs) Profit because they pocket some money.
Is this some sort of Tyler Hicks concept?
Has anyone else heard of this type of stategy?
I can’t understand why anyone would do this - or why any lender would agree to it.
Griffith