REDINGTON BEACH, Fla. – With many facing painful rebuilds that will cost thousands and take months, some homeowners are opting out by putting their storm-damaged homes up for sale “as is.”
The complicated process has people looking to get out fast, but realtors are warning them to look out for wholesalers, buying properties under contract and then selling the contract to another buyer, typically within 30 days – all while making tens of thousands in profit.
“They buy houses at a really deep discount, and then they try to sell them, and they make a quick buck, and then they sell it to a real investor who will then flip it. So they’re just, it’s just the middlemen,” said Denise Antonewitz, a realtor. “They are trying to flip the contract for sure. And if you call them, I have called them out on that, and they tell me no, that’s not what they’re doing. But then we find the house on a website for $30-40,000 over what the contract price is. So they’re lying.”
She suggested people slow down and wait for insurance, and then list on an open market and wait for legitimate buyers. In many cases in Florida, the property value is still worth a lot. …