Legal Question in Real Estate Law in Maryland

Investment Property-nightmare

I am in need of help. I have very little finances available and have just found out that the investment I choose in an attempt to get up on my feet, maybe part of a rehabbing fraud ring. This is a very organized ring which involves the agent, appraiser, seller, and mortgage broker. The realtor encouraged me to wait to have the home inspection done until after settlement (because the owner had a tenant in the house)and I am now finding that the appraiser the realtor recommended me to may have written an inflated appraisal. This is based on the review of several other realtors. The second thing that leads me to believe it is a fraud ring is that the realtor referred me to a mortgage broker that I have since found out is owned by the seller; and lastly the seller was representing the house as a complete rehab. I have found out the house has an open tax lien, and open building violation notices. I also think the title company may have deliberately withheld this info because it should have been revealed with a title search. I am unable to do the required repairs to bring the house up to code standards. What are my options with suit or finding some type of relief? I am finding this is a common practice in Baltimore MD.


Asked on 6/28/08, 1:36 pm

1 Answer from Attorneys

Kim Parker Law Offices of Kim Parker P.A.

Re: Investment Property-nightmare

Please contact my office to discuss this.

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Answered on 6/29/08, 5:13 pm


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