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/biz/ - Business & Finance

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885829 No.885829 [Reply] [Original]

>borrow money to buy a house
>sell house
>move to another country with your cash
>never pay back loan

>> No.885833

>>885829
So you either get sued in another country or you have to move to a complete shithole where will be robbed in no time. That's your plan?

>> No.885834
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885834

>>885829
>borrow money
>move to another country with your cash
>never pay back loan

here just made it simple

>> No.885836

>>885834
This

>> No.885838

>>885829
>take out al the cash
>convert to bitcoin ( I know ..) and add it to a micro sd card that you carry within your phone
>go to India or Syria, buy new identity
>cash + new life

Actually a more often used scam
>take life insurance with big money
>buy death certificate in India, family get's money
>receive money and buy new identity in India

>> No.885840

>>885838
Why the fuck would you want to go to India, let alone Syria.

>> No.885841

>>885838
Or take money and become a french legionaire
https://en.wikipedia.org/wiki/French_Foreign_Legion

>> No.885842

>>885840
Those are the place if you want to buy an new identity ... A lot of refugees that are now in Europe went first to syria to buy a passport.

>> No.885843

>>885838
The life insurance thing is really easy to do. This is how a lot of people go off the grid. They take out a large life insurance worth in the high six figures to low seven. Then they move to a developing country where they live like kings. You find these people in Thailand.

>> No.885847

>>885842
No life insurance company in the first world is going to accept a third world death certificate with no investigation

>> No.885965

>>885829
> has no clue how real estate works.

The party buying your house will run a lien search to see if the property has any liens/mortgages.

At the closing, the buyers will write two checks, one to your back to pay off your mortgage balance, and a second check to you for the balance(if there is any)

Nice plan, but keep trying

>> No.885967

That's not how selling a house with a mortgage works. When you aren't 16, come back to us and we will help you.

>> No.885975

>>885829
I improve it for you:
>find a soulless lawyer and a real estate agent
>rent a house
>sell the house to somebody, the lawyer and the agent make sure the buyer won't notice that you are not the real owner

Source: in every 2-3 years they catch some guys doing this

Hard part:
- you have to share the money
- they will get you eventually so have to disappear before that
- if the buyer is not a retard he will figure out
- you need false ID etc.

>> No.886000

>>885829
yeah no. It's not like you can easily transfer 300K from the US to let's to South Africa... all alarm bells will go off and your account will be frozen for an investigation.

Especially in Europe all transactions above the 10K are investigated..

>> No.886009

>>885841
so nowadays you need to link wikipedia because nobody is expected to know about the fucking *french foreign legion*???

>> No.886049

bt yo the bank dosnt loan money to ppl who cant pay it back,its called "risk assesment" dawg. back in 08 even u required some proof dat u can pay back, now cause of the 08 shitz u is need big dough dawg #reatalk

>> No.886073

ITT: faggot kids who have never taken out a mortgage and have NO FUCKING CLUE how it works

>> No.886077

>>885975
Sure, if you're lucky enough to find a buyer who's a total noob and doesn't do a basic lien and title search. If that's the case he deserves to be ripped off

>> No.886085

>>886077
WTF? You do realize that the buyer is going to have a lender, who is going to require a title search. Doesn't matter have stupid the buyer is; the bank is no dummy.

>ITT: another faggot kid who has never taken out a mortgage and has NO FUCKING CLUE how it works

>> No.886093

>>886009

Not that guy, but yea. Most people are pretty edge.

>> No.886100

>>885843
You do realise that life insurance corporations have a lot of money, you do realise that the money they own is mostly invested in not losing that money to 'geniuses' like OP.

You also understad that no insurrance company is going to issue you any amount of money if your body is not found. "Missing" is not dead.

If you "die" in fucking Djibouti, the fraud division of the department of insurance will have to examine the corpse in order to allow your insurrance claim. Only if it comes up 100% you, is your claim valid.

>> No.886222

>>885829
that won't work.

you'll have to use a title company, and they will make sure the note you have gets paid with the proceeds.

only way to do it would be to find a cash buyer that is stupid as shit. and even then, you'd have to sell a lot lower than what it is worth.