I finally found a home that I loved. The asking price was in the 90,000's. The bid was 65,000 but they would accept 100,000 as a final bid. I told my realtor to go ahead and put in the top bid.
She called me back and said she didn't think I wanted to do it because they wanted 5,000 up front and wanted a bank loan approval without right of inspection. And if they decided you didn't get the bid they get to keep the money it is non refundable.
What a scam. You can't get your loan approved without inspection and from what I've read about this company you could put in the bid they said they would take and then you still don't get the property but lose your escrow. How many people lose their money to this company? I think someone should step in and put a stop to their scams. Normal people want homes. I wanted that home but am not pursuing it because I can't get a loan under these circumstances and I can't afford to lose 5,000.
I have been looking for several years and am very disappointed that no one can stop this practice from happening.
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