02-05-2021, 01:52 AM
if I thought the buyer was a problem or might stop making payments
But then you take back the property, keep the money and resell it, right?
I remember hearing about a guy in Puna who made his living selling vacant lots with small down payments. Many (most?) of his buyers had little money to begin with and inevitably couldn’t keep up the payments. Then he’d take back the property and sell it again. It was all spelled out in the paperwork, so was on the up and up, more or less. But I don’t know how he slept at night both for questionable business practices that preyed on the poor, as well as worried that a noise out in his yard at midnight might be a former buyer skulking around for a visit.
But then you take back the property, keep the money and resell it, right?
I remember hearing about a guy in Puna who made his living selling vacant lots with small down payments. Many (most?) of his buyers had little money to begin with and inevitably couldn’t keep up the payments. Then he’d take back the property and sell it again. It was all spelled out in the paperwork, so was on the up and up, more or less. But I don’t know how he slept at night both for questionable business practices that preyed on the poor, as well as worried that a noise out in his yard at midnight might be a former buyer skulking around for a visit.