Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.1 6/24/83; site molihp.UUCP
Path: utzoo!utcsri!ubc-vision!molihp!martinl
From: martinl@molihp.UUCP (Martin M Lacey)
Newsgroups: net.invest,net.consumers
Subject: Re: Re: "No Money Down" (Other People's Money) Scam
Message-ID: <131@molihp.UUCP>
Date: Fri, 10-Jan-86 13:51:07 EST
Article-I.D.: molihp.131
Posted: Fri Jan 10 13:51:07 1986
Date-Received: Sat, 11-Jan-86 09:46:35 EST
References: <164@bubba.UUCP> <757@hou2g.UUCP>
Reply-To: martinl@HP-UX.UUCP (Martin M Lacey)
Organization: Moli Energy, Vancouver, B.C., CANADA
Lines: 31
Approved: molihp 143 401
Summary: 

In article <757@hou2g.UUCP> scott@hou2g.UUCP (The Brennan Monster) writes:
>Granted I haven't thought about this too much (lazy,
>I guess), but could someone please enlighten me as
>to WHY someone with a $200,000 house would accept
>$150,000 for it?  Even if paid in cash?
>
>		"Uncle Dick, are any of the kids in your books named Mitch?"
>
>		"Uh, actually, most of my characters tend to be hand tools."
>          
>			Scott J. Berry
>			ihnp4!hou2g!scott

And allong those same lines, Doesn't everyone who own's a house and 
sells it recieve the equivelent of cash anyway ?  I mean, If I want
to buy a house, I get a loan from the bank to buy the house and buy
it completely.  The bank now really own's the house until I can come
up with enough money to give the bank for the house (interest + cost).
So the original owner gets completely paid, and is no longer in the
picture; or at least after paying off his debts.

IE.  There doesn't seem to be any advantage in selling the house to 
     the person who *states* he will pay cash, when that is the condition
     of the sale anyway - unless he was trying to sell it through a
     broker of some sort, and needs money NOW.

		
			I would apreciate flaws in this thinking
			to be pointed out, if any.

				-- Martin the Magician.