I found about it after the auction site notified me of the winning bid. I had contacted one of the Realtor listed on the Zillow site that the seller provided a link with. After contacting her through email. She went the next day to view the property that the link showed her which was an adjacent site. She then sent me a copy of the tax card that that county uses. Which show the actual value placed by the county. She then stated that the properties in that area area range from 500-3,500 per lot depending on the location to the lake. She also supplied photos of the lot she looked at.
The ad placed on line showed a mobile home with a photo of the kitchen. and priced at 39K. The County tax assessor lists the property at 4,000 and has a different photo of the building listed.
It was sold as is, But under the Dodd-Frank bill doesn't he have to put that correct value of the property?
Jeff,He absolutely does have the duty to accurately reflect the value of the property, describe amenities or defects with the property, and provide you with as honest of an evaluation as possible. If the assessment showed the value to be $40K and it was actually $4K, that is a most substantial difference in value, and I can see why you believed that this was a fraudulent transaction. This is something the state's Attorney General's office would likewise need to review and investigate (IC3 is more for online scams such as overseas money or lottery scams although they can likewise review this as a potential violation). However the seller's demand for proof is likewise valid--if you are accusing him of substantially misrepresenting the state and value of the lot, you are required to substantiate your claims--sending evidence based on actual images based on what you were sold, and actual assessment value is exactly what you need to do so as to try to cancel this contract.Good luck.
He has decided that I am just too much trouble and has decided to refund my money.
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