This company is led by an conman. His name is Mike Nawar but he uses Makram Nawar too. He buys properties under different companies names such as Signature Custom Homes or HNA LLL and then sells them for a huge profit to unsuspecting buyers who do not speak English or those leaving the country promising to make the payments for a year while they are gone.
For example, he buys a home for $100,000. And then he gets is appraised (the appraiser is in on this) for $150,000 and sells it to a buyer promising to make all payments the first year. He primarily targets non English speaking buyers and tells them that the terms are all in the contract.
He defaults on payments within months. The buyer usually has no idea what is going on assuming payments are being made. Property goes into foreclosure and he walks away with a huge profit as he is the seller and his son is the real estate agent. No one figures this out he is the seller and the real estate agent because he uses different company names with his son - so he gets paid twice over!!! And he buys land and does development so he gets paid again.
Buyer is left holding the bag. Be forewarned about this guy. He has done this one over 60 apartments so far and several homes.
Names he uses: Mike Nawar or Makram Nawar
Companies he uses: Signature Custom Homes, Signature Development Corp, Signature Estates
Be forewarned.
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