Ok so it's an ugly house but 1$ really!?!?!?! (Detroit: mortgages, loan)

[NTT]

Originally Posted by cheryjohns

It's a bad marketing ploy - it doesn't even work - yet there are still agents that try this.

It's not just the listing agent that gets the calls. Here is a written version of a real call:

Me: Hello?
Person: I need to buy a house and I have no down payment and bad credit. Can you help me?
Me: Not yet. Here is the number and name of a lender who can help you clean up your credit at no charge - and you need to start saving for a 3.5% down payment.

Two weeks later:
Me: Hello?
Person: It's me again. I am ready to buy a house.
Me: You couldn't possibly have cleaned up your credit and saved that much so fast.
Person: I don't need to clean it and I don't need to save. I found a listing for $1.
Me: Sigh

LOL, that's a funny . Guess people don't realize that if something looks too good to be true, it probably is!

[RVD26]

Originally Posted by cheryjohns

it's a bad marketing ploy - it doesn't even work - yet there are still agents that try this.

It's not just the listing agent that gets the calls. Here is a written version of a real call:

Me: Hello?
Person: I need to buy a house and i have no down payment and bad credit. Can you help me?
Me: Not yet. Here is the number and name of a lender who can help you clean up your credit at no charge - and you need to start saving for a 3.5% down payment.

Two weeks later:
Me: Hello?
Person: It's me again. I am ready to buy a house.
Me: You couldn't possibly have cleaned up your credit and saved that much so fast.
Person: I don't need to clean it and i don't need to save. I found a listing for $1.
Me: Sigh

lmao!

[piyf]

Originally Posted by cheryjohns

It's a bad marketing ploy - it doesn't even work - yet there are still agents that try this.

It's not just the listing agent that gets the calls. Here is a written version of a real call:

Me: Hello?
Person: I need to buy a house and I have no down payment and bad credit. Can you help me?
Me: Not yet. Here is the number and name of a lender who can help you clean up your credit at no charge - and you need to start saving for a 3.5% down payment.

Two weeks later:
Me: Hello?
Person: It's me again. I am ready to buy a house.
Me: You couldn't possibly have cleaned up your credit and saved that much so fast.
Person: I don't need to clean it and I don't need to save. I found a listing for $1.
Me: Sigh

I thought our conversation was confidential?
I KEED I KEED

[cheryjohns]

Originally Posted by danieloneil01

I thought our conversation was confidential?
I KEED I KEED

LOL - Daniel!

[PrincessKick]

Originally Posted by 14Bricks

It could happen, a guy bought a house in Flower Mound, for $16.Stranger moves into foreclosed home, citing little-knownTexas law | khou.com Houston

He didn't buy it. He's trying to use an obscure law to get something for nothing. Most around here think he won't end up with the house.

[piyf]

It was on the news here in Houston. And I agree, he's not going to get it. He's trying to basically steal a home and I hope he loses more than the house.

[RVD26]

Originally Posted by PrincessKick

He didn't buy it. He's trying to use an obscure law to get something for nothing. Most around here think he won't end up with the house.

Originally Posted by danieloneil01

It was on the news here in Houston. And I agree, he's not going to get it. He's trying to basically steal a home and I hope he loses more than the house.

How is that considered 'stealing a home'?
I don't understand why people are so against that man staying in the home.
If he was able to get the home within the confines of the law and doesn't bother anyone else, what's the big deal?
The neighbors and other people who don't want him around (for whatever reason) are making a bigger fuss than he is.

[PrincessKick]

Originally Posted by RVD26

How is that considered 'stealing a home'?
I don't understand why people are so against that man staying in the home.
If he was able to get the home within the confines of the law and doesn't bother anyone else, what's the big deal?
The neighbors and other people who don't want him around (for whatever reason) are making a bigger fuss than he is.

He "found" a key to legally enter the house? My butt he did. And "living" in a house with no electric and water turned on. Yeah, uh huh. He's jerking the system. Wonder how far his $16 "investment" will get once the tax bill arrives...

[nana053]

Originally Posted by PrincessKick

He "found" a key to legally enter the house? My butt he did. And "living" in a house with no electric and water turned on. Yeah, uh huh. He's jerking the system. Wonder how far his $16 "investment" will get once the tax bill arrives...

Here's the Texas Law

Adverse Possession in Texas

Adverse possession refers to the circumstances under which one may lawfully lay claim to ownership of property not originally one’s own. The statute governing the rules of adverse possession is Texas Civil Practices & Remedies Code Sec.16.021 et seq. The statute defines adverse possession as “an actual and visible appropriation of real property, commenced and continued under a claim of right that is inconsistent with and is hostile to the claim of another person.” Case law adds that it must be true that the possessor of the property actually does possess it (the belief of entitlement to possess is not enough), possesses it continuously (sporadic possession is not sufficient), and that he peaceably and intentionally asserts a claim of right to the exclusion of all others. It is not enough to be merely caring for the property temporarily, or even paying the taxes on it, until the owner reappears. Possession shared with the original owner is not enough.

The statute is structured in such a way as to require an affirmative act by the original owner to reclaim the property within certain periods of time, referred to as statutes of limitation. If he is prevented from doing so by physically recapturing possession, then he must file a trespass to try title suit in order to reclaim possession and establish legal ownership.

Apparently, squatting there does give him the right unless the original owner files a claim. As for breaking in, since the owner walked away, maybe he left a key under the mat.

[piyf]

The legal owner didn't walk away, the person who lived there had a loan they couldn't pay for. The legal owner is the bank. This person will not take possession of this house. He's trying to take advantage of the system and causing more stress than paying for a house the right way. I hope he enjoyed his 15 mins.