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SE SoDak | I get all of Mom's mail, thankfully. She's in an assisted living home, and while she still has some of her mental facilities she is well past the point of making her own financial decisions. Dad ran the farming operation so her knowledge of farm business matters was minimal. Like many farm widows, she's an inviting target for thieves.
Yesterday I got a letter addressed to her inviting her to sell one of her 80 acre fields. It came from a land-flipper, Ray Zhang. You can look him up on the internet. It was written in a way to look like an appealing offer that would only be available for a short time - "No questions asked, cash in your hands, just sign the purchase agreement in the next two weeks, etc...". The offer might look like a big number for individuals with no knowledge of current land values, or who remember land values in the 80s/90s, but the offer Zhang invited Mom to sign was for around 15% of the land's current value!! It was a criminally low offer.
If you have elderly relatives, keep an eye out for this kind of letter, whether from Zhang or someone else. There are a lot of people who are willing to steal from the elderly. | |
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Ray Zhang land sales letter - beware!
