Category Archives: Real Estate Stories

Is that not ILLEGAL?

In this post, I want to address a question that I get quite often.

Real estate can come off quite intimidating for a lot of people but with us here at, it doesn’t have to be.  Allow me to prove it to you.

Me: “Oya… let’s do it this way..”

Client: “OLA, isn’t that illegal?”

Uhmmmm … ummm … I don’t know.  I have a quick solution to ‘finding out’.  In fact, that one solution is the surefire way to make it all LEGAL.

What if I told you that I have ONE way to make whatever you do in real estate all LEGAL as opposed to iLL LEGAL?  Would you believe me?

All you have to do ever is this ONE THING in your next real estate transaction and the police will be happy.

Did someone mention police?

LOL… Let me be clear.  The popo does not have to be involved if you do this one thing in every single real estate transaction you are ever involved in.

“I’ve got the magic trick.”  That was 50 cents abi?  Well, this one trick can save you $50,000 – $200,000 depending on the location of the subject property.

The only thing I ask of you is to not share this trick with those rookie realtors out there that make “doing everything by the book” their priority over serving your real estate needs and getting a solution. 

If the solution is not in the book, you are stuck.

Get me my dream home VS do everything by the book..

“heh.. Are you slow or some … mm?”

Sell my house VS follow the law PLUS the extra laws I made up in my head.

“OMG, he is slow. LOL…” OK  enough…

Doesn’t that sound a bit off though? YOU, the client, and results need to be the priority. PERIOD!  You gree abi?  Cool.

I ‘ll tell you what.

My request to not share the trick may contradict the one trick a little bit unless of course you choose to work with us here at for all your real estate needs.  *wink *wink. 🙂

But… please feel free.

Let me tell you a quick story…

One day, I was going to a closing for a heroic transaction I did for a gentle men client of mine called Daren.  He had been trying to sell the house for a while.  But he got stuck with it and the mortgage.

Thank God he found me… Sorry am I bragging? Sorry it’s not my fault.  It’s not God’s fault either but he caused it.  OK.. so…

I had Daren’s attorney whom I’ve worked with a lot meeting me at the closing at the buyer’s attorneys office …. with all parties involved.

As always, we allow anyone who wants to use their own lawyer all because of that one trick I will share with you here on the next episode.

I meant ‘in a few second…’   SMH.. too much ‘Love and Hiphop’.. heh.

On our way to the buyer’s lawyer’s office, we found out that he was a traffic court judge.

What? Judge?

YE! Sangba fo… abi kangba fo? I forgot.  My father corrected me on that last week but anyway…

For a second there, it looked like Daren’s lawyer that was with me started to have some weird fear.

“What is wrong with this one?”  In my head in my strongest Naija Accent.

So I said to him, “you’ve done so many real estate transactions for me.  Are you saying they were all illegal?”  I asked.

“No but ummmm…. ” 

“Don’t let me say your YO FATHER o… “.. in my head again.”

Anyway, we got there.  Lo and behold.  He is a judge.  It felt like we had entered a ritual shrine and we would never get out of that place.

I knew I was not doing anything wrong.  But you know in this life, things may not always be what they seem like.  Here we are sha and I must ‘to’ collect… bottom line.

We must ‘to’ close this deal.  Today na today ha! wha!

I no steal now.  LOL.

There were a million things going on in my head.  Finally, I thought about the ONE trick and  then I asked Daren’s lawyer’, if the trick would fly.

He said “YES, let’s try that.”

“Eeeegbeh, why didn’t you think of it.  It was my idea o.  I will slap you.. LOL”

OK, so what is the trick yeh?  It’s simple.  Let’s tell everyone involved in the transaction about our secret creative solution.  Let’s take 5 minutes and give them full disclosure with explanation.

Yes, that was the trick.  Now let me warn you…. 

The trick only works if no one is stealing, cheating or lying.  Full disclosure works all the time in real estate transactions if the creative solution involves no stealing, cheating or lying.

Full disclosure noni.. .

Don’t forget to give me credit anytime you use the trick.  I will appreciate it. The best type of credit you can give me is to call me *wink *wink for your next real estate needs… especially if you need creative solutions.

Sorry that wasn’t the best type of credit jor.

The best one is all your referrals.  We appreciate them.  Talk soon.
We buy, sell, list and invest in Real Estate


I bought it too… OMG. In deep sh*t.

Excuse my language but if you were there, you’d say the same thing if you heard the story.

My father wanted me to talk to this guy about a potential trouble he was in with his house. Essentially, he had bought a property that was already sold to another person.


I actually can’t recall who bought the property first but I think you’d agree that whichever one it is wouldn’t matter. YES. A property can have two home owners but not without the consent of one another right?


So let’s just call him Mr Ajay. Mr Ajay bought a 2 family property in Newark. A few years later, he realized he couldn’t afford to keep the mortgage payment up even with a 2nd unit that could be rented out for rental income.

Of course, the decision to get rid of the property did not happen until his mortgage payments had started to linger.

… LIGA LIGA LI. Do you know what that is? It means late payments as a result of procrastinating on offloading a non-performing asset.

The bank had filed a lis pendens already. This is usually the point where people decide (not find out) that they can’t afford to hold on to a property.

By the way, that’s not necessarily financial irresponsibility. It’s just ‘not responsible.’ <-- SAME THING? oh.. yea... Anyway. He decided to use short sale to get rid of the property because..

Guess why…

He owed $400,000 on a property that’s worth less than $200,000. That, my friend, is called negative equity. The only way to sell a property in such situation is to get the mortgage bank to agree to a short sale.

Here is the worse part…

Mr Ajay was able to find a buyer who was willing to sit around for 7 months that the short sale took to be approved. In fact, they were at the closing table when the title search revealed another outstanding $400,000+ that needed to be paid before escrow can close.

Ooooopz I did it again.. Ok I didn’t do it.

But that my friend is what you call deep sheethhhhhh with a thhh th.. right.. LOL

Really, its not funny.

See, it’s not uncommon to find a second mortgage, a home equity loan or minor liens in a title search at closing. But finding a whole 1st mortgage lien on another person’s name entirely was a new one when he told me.

Let’s break it down…

The bank agreed to a short payoff of $180,000. Buyer is at the table with money at closing. The loss mitigation officer at the bank is expecting $173,000 and change because they agreed to pay Mr Ajay’s outstanding property tax bill and other closing costs.

But now there is a $400,000 that needs to be paid or else… GRID LOCK.

To cut the long story short, what that meant is that someone pulled out another $400,000+ mortgage and/or sold the same property to someone else ENTIRELY simultaneously as they were selling it to Mr Ajay.

SANGBA FO! << never mind what means if you don't know... Of course, my only advice at that point is for Mr Ajay to consult with a legal personnel. Me nat know! How can you avoid this type of trouble in your real estate transactions? Simple. You need trust worthy people in your real estate transaction team. Just because you have an attorney is not enough. An attorney was also involved in this transaction with a title company and all. Of course, you should always use an attorney. What does trust worthy team look like... Hello... Voila... STAY TUNED FOR MORE HORROR STORIES SO YOU CAN AVOID IT COMPLETELY. Real Estate is beautiful but... agboro lan so fun omoluabi. LOL. Thanks for reading. Ola for PS: If you missed that part. Contact me for all you real estate needs.