Metro homeowners locked into 40 year contracts with real estate company – 95.5 WSB
GWINNETT COUNTY, Ga. — You get a big check just for signing up – that’s part of the sales pitch from a real estate company doing business in metro Atlanta.
But you are also signing up for a contract that runs 40 years.
MV Realty is based in Florida and advertises a “Homeowner Benefit Program.” A check is cut right away when you sign up. It could be from $300 to $5,000 depending on the value of your home.
Then MV Realty has the exclusive right to sell your home for the next 40 years.
Wanda Babb currently sleeps in a motor home outside of her fire-damaged Gwinnett County home.
She was supposed to close on the sale of her house May 26 to move to Florida with her daughter.
But the sale was blocked because MV Realty has a lien on the property.
MORE STORIES BY 2 INVESTIGATES:
MV Realty said it has the exclusive right to sell the property, not other realtors.
“They saw a sick person with…