Land "Trust" Offering "Quick" Cash But Low Prices To Property Owners
Seeking willing vacant land owners in Florida and other states, Reliant Land Trust, of Portland Oregon is sending first class letters offering "some money in exchange for your property."
The company began business in Oregon in March 2009, as an assumed business name of Radius Corporation, owned by Stephen Seal, sending out thousands of letters a month to property owners around the country, hoping to pick up land from uninformed owners at very low prices.
Property owners not knowing the current value of their land may be persuaded by the company's offer of "a fast, trouble-fee sale, as well as a fair price and immediate cash." They say they will pay "all of the fees" for title search, recording, etc.
All their letters are signed by "Charity Lechuga" as account manager. Ms. Lechuga is actually the Vice-President of Purchasing.
Seal, a sole proprietor, owns numerous other Oregon companies including Radius Facilities LLC, 8925 Investors LLC, Auction Acres.Com, Land Central.com, Land Research Foundation, Auction Dirt, I Buy Houses, Synergy Management LLC, Land Easy Management LLC, Radius Holdings LLC, Radius Management LLC, Radius TLC I LLC, Riviera 53 LLC, and Seal, Kennett & Lechuga.
Despite using the word "Trust" in the name and account manager "Charity," the company is an Oregon for-profit outfit. His company seems not be registered with the Florida Secretary of State.
The company is not a land trust in the usual sense of the phrase, where land is purchased for long term ownership, by a non-profit organization, sometimes for ecological purposes. Reliant, reportedly makes a quick profit by buying at very low prices, usually a few hundred dollars, and selling as quickly as possible, although their web site says they hold land for long-term.
The company says they operate primarily in western states, but Florida has been receiving their letters as well. Although the letters give a toll free number to call, they will not give you a price over the phone. Although they offer a "quick" sale with immediate cash, an actual sale may take from one to three months, according to their website.
A typical "offer" to buy from Reliant may only be a few hundred dollars, customers are saying. Beware of any low offers for land that may be actually worth ten times more than their offer.
The Better Business Bureau in Oregon gives Seal's company an "F" rating, citing two consumer complaints filed since 2009 that received no company response.