Compromised Buyer

Jared's sister-in-law shouldn't wait until their neighbor clears up an identity theft problem to sell her house.

QUESTION: Jared’s sister-in-law is selling her home. Before signing with a real estate agent, a neighbor offered full price for the house. When he went to get a loan, he found out he is a victim of identity theft. Is it worth it to wait for the neighbor to get this cleared up?

ANSWER: It’s not going to be solved quickly. This will take some months. If it were one or two credit cards, that’s one thing. But if there are car payments and multiple credit cards, that requires a lot of documentation. Pay the agent and, in the listing with the them, put an exception for this one party. If you have that, then go ahead and try to sell it. If nobody buys it by the time he’s ready, you’ve lost nothing.

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