I’ve been a real estate broker since 1963. I started out specializing in farms and to this day have never sold a house in town. Back in the 1970’s the Trust Department of United Missouri Bank gave me two farms to sell, both were located in Jackson County, and both were 250 acres. The sale price was $1,000 per acre, or $500,000. I advertised the farms and received a call from a man who asked how much would have to be put down initially to purchase the farm. I told him 10% which would be $50,000. He asked me to meet him at a restaurant on Noland Road in Independence the next morning.
When I met the mystery man, he informed me he was representing the buyer, who wished to remain anonymous, and wanted me to buy the two farms in my name. I was to close the property at Chicago Title in Kansas City and at that time, to call him and he would give me the name of the buyer. Chicago Title was to do a flow-through from my name in to the anonymous purchaser’s name. He handed me a $50,000 Cashier’s Check made out to me, and told me to call him when I was ready to close and he would give me an additional check for the balance.
The original owner had left these two farms in his estate to the School of the Ozarks, Park College, and Children’s Mercy Hospital. It took me quite a while to get these three entities to sign off in order to close the property. I called the number I had been given and the man said to meet him the next morning at the same restaurant, same time. He handed me another Cashier’s Check made out to me in the amount of $450,000. I now had $500,000 cash, no contract, no signatures. I then went to Chicago Title, closed the property, made the phone call, and transferred the property to a Corporate name I was given. I found out later, the purchasers wanted the farms quite badly, but had a conflict of interest.
I made a $30,000 commission and can say it was the strangest sale of my career. If you are a real estate broker or agent and have an interesting transaction you would like to share, contact me.
Jack can be reached at PO Box 40, Oak Grove, MO 64075 or jackremembers@aol.com
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