The scam is:
How to do Real Estate deals with no money and no risk
Tell the seller you want to buy 3-4 houses for rental properties.
Tell the seller you want to do a cash closing quickly but you want the Standard 45 day Inspection Period. Then ask them how fast they can close.
Tell the seller you want to get renters in the house as soon as possible to start getting income.
Tell the seller you want to show it to renters or possibly a buyer.
When you fill out the contract include those Items and be sure the contract is assignable.
With the contract at the Title Company you are free to market the property without a Realtor’s License.
List it for sale and when you find an investor, assign the contract and collect your profit.
Easy and Risk Free.
If you don’t sell the house before the 45 days is up, just start giving excuses as to why you don’t want to buy the house anymore.
This excuse can be anything from financial strain to noticing new things.
Most of the time you don’t need an excuse at all.
As far as the seller knows, you just changed your mind. You never go to closing.
Why would a seller allow me to do this?
The seller believes you are buying his house. He is just waiting on the closing date.
There should be no reason why the seller should suspect anything is wrong, and don’t give one.
After you cancel the contract, you will have no further contact with the seller.