Posted by jocco on December 10, 2018 at 12:26:22 from (166.232.21.87):
Thought I would share in regard to the other post on land contracts. I have seen a few go bad. Early 70's a shyster sold a place to a couple, they made payments on it for the best part of the term. Well it mysteriously burnt and was insured in the shysters name. He collected payments, insurance and resold it!!! Same guy acted as a purchace agent on some land, he had the deed put in his name as he was a front man for a would be company. It all fell apart and guess who owned the land!!! Next was the one where the buyer paid some up front money to an elderly couple. Cut all the timber, hauled massive amounts of metal off said land and sold all the top soil and did all three very fast. HE THEN DEFAULTED AND WALKED!!! Have also seen issues were someone died and the buyer was left out to dry so to say.
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