[gtyer]

Some friends of mine supposedly sold their home. The story sounds very strange. It was listed as an open house for one day. No one came to view it, but the realtor said they received emails from a bank offering to buy the house sight unseen. The offer was very close to the asking price. They are now waiting for the escrow check to arrive. It is coming from the bank. They do not know the buyer's name. What does this mean? Will a bank hide the name of a buyer? Will a bank buy a house? Is this a scam.

[ma0641]

Sounds like a scam. Banks are trying to SELL their homes. What some scammers do is to tell you to pay the commission up front rather than a deduct and then guess what? No check and you are out $$$$

[gtyer]

The commnission goes to the realtor and they are not asking for it so I don't understand your answer.

[ScottGem]

Did the realtor show your friend the e-mails? This does sound fishy, but it could be legit. Your friend just needs to tread carefully. Make sure he sees the e-mails. Make sure he sees the check.

[Fr_Chuck]

I would not sign any paperwork, or cash any checks, till full disclosure happens. The selling agent works for them and they may want to discuss this with the actual broker also.

But no banks do not buy property, unless you may be on one where they want to bull doze it for a shopping center or investment property.

[lucy00]

Banks only sale houses, either foreclosed or short sale. I didn't probably get your question but they mostly give mortgage to buy a home.
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