I am proud to have navigated my seller clients past a predator buyer last week. Here was the scenario...

 

Buyer made an offer that was all cash with a quick close and an apparently short option period. This particular buyer is known as a "flipper" in the marketplace, buying properties at the lowest possible price, then trying to sell the property to another buyer before they close - effectively pocketing thousands of dollars before they even own the property.

 

I advised my seller to beware of material changes to contract after execution. A Certain type of buyer will make a great opening offer, only to get property under contract - run option to the end, then offer a lengthy option extension followed by a drastic price reduction.

 

The reason for this: The buyer thinks the seller will panic because the property goes off market for extended time, then shows up as contract falling through.

 

Today was last day of option, and buyer asked to extend the option for a week. That made the decision to terminate easy.

 

Another factor that made the decision to terminate an easy one...the would be buyer accidentally emailed me trying to flip me my own listing.