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I've heard rumors of a real estate broker here who is 'helping' an investment partner by offering a short sale on an investors property and buying it themself with the intention of selling it back afterward. This seems like fraud and if not, why isn't everyone doing this?
Not going to get into the fraud aspect, you should ask that in the real estate forum as well.
But what guarantee do you have that the real estate broker will actually sell it back after? This is a variation of an old time scam.
A homeowner gets in trouble and is behind on the mortgage. An investor offers to "catch them up" on their payments in exchange for their deed. A few months later, once the deed is recorded, the old owners get thrown out on the street because the investor sells the home out from under them.
The people living in the home became "renters" and the investor is the legal "owner" because they have an executed deed recorded at the courthouse giving them that right.
Is the situation you are describing legal? Don't know.
Is the situation ethical? Not at all.
Is the situation risky? Very much.
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