• Report: #842843

Complaint Review: First choice reo group

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  • Submitted: Wed, February 22, 2012
  • Updated: Wed, February 22, 2012

  • Reported By: Bill — Denver Colorado United States of America
First choice reo group
2645 Executive Park Dr, ste 421 Flint, Michigan United States of America

First choice reo group Tom Martin Try to get you to buy an over priced reo propert owned by a bank. Claim to help you sell quick for 30% profit. Flint, Michigan

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Got a cal from First Choice Reo claiming they worked with banks to liquidate reo property. They said they make no money when you buy the propert but were paid 20% of the profit when you sold it, usually within 30-60 days.

They sent me info on a property I could buy for $10 k. They also put me in contact with John Roberts, " a Remax" agent in the flint Michigan area. Roberts told me the property would sell quickly for $16 to $20k.

I spoke with other agents In the area, one who had a property across the street on the market for $4750. She told me that most of the houses are vacant, the area is depressed, and her opinion of the property I was looking at had a market value under $5000.

Roberts also told me the low end of the market in the area of the subject property mid $20k. I found over 70 homes within blocks on the market for $10k and less, some as low as $1500. Roberts also claimed the rental value of the house was $800 per month.

I don't know how these guys get paid but I know it is not when their client sells the property.i suspect they are paid to sell the property by the bank. Steer clear of these clowns.

This report was posted on Ripoff Report on 02/22/2012 11:09 AM and is a permanent record located here: http://www.ripoffreport.com/r/First-choice-reo-group/Flint-Michigan-/First-choice-reo-group-Tom-Martin-Try-to-get-you-to-buy-an-over-priced-reo-propert-owned-b-842843. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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