Regardless of promoting a property for greater than $30,000, a metro veteran tells KFOR he by no means obtained a cent.
At 91 years younger, Bud Johnson has fairly a life story.
A lot of his life was spent within the army, however he discovered success in actual property later in life.
“I used to be hatched proper right here in Oklahoma Metropolis,” stated Bud. “Made more cash after retirement than I ever did working.”
Bud owned a handful of properties through the years, however was seeking to offload.
A property on the southeast aspect had fallen into disrepair, and Bud says squatters have taken up residence.
Hoping to promote the house as-is, Bud discovered a purchaser in Sylvester Mason III, out of Tulsa, who agreed to purchase the house for $36,000.
The 2 met on the Oklahoma County Courthouse, and Sylvester introduced a notary to finalize the deal.
“He had the papers all prepared, he had promissory notice all prepared,” stated Bud. “He had his notary, he had all the things.”
However Sylvester Mason III didn’t have the $36,000 wanted to buy the property. He opted as a substitute to signal a notice that promised cost in 90 days.
The deed modified arms final September, and Bud says he hasn’t heard from Sylvester since.
To keep away from these conditions, native lawyer Mark Walraven advises anybody in actual property to name a professional previous to signing, and persist with mortgages versus promissory notes.
That method, if the vendor fails to make funds, it’s the financial institution who chases them down.
“The notice says, I owe you cash to the financial institution,” stated Mark. “The mortgage says, if I don’t pay you that cash, [the bank] will get my home. That’s why the mortgage is essential.”
As for Bud’s predicament, who’s Sylvester Mason III?
Via our analysis, we consider he lives in Tulsa. A felon following drug and gun expenses in 2014 who has began various companies since.
Wanting via the paperwork in Bud’s property sale, we discovered they have been notarized by somebody named Kayla Woodside.
Seems, Kayla is married to Sylvester. In keeping with state officers, she isn’t even a notary. However we discovered she utilized for and obtained a COVID PPP mortgage as a notary, for almost $8,000 in 2021, in accordance with on-line data.
Discovering Sylvester has confirmed robust. We stopped by numerous Tulsa addresses, however neighbors stated they hadn’t seen him in months.
Sylvester has been busy although.
In keeping with property data, he bought Bud’s house to a different lady earlier this yr. She informed our crew she paid $55,000 for 2 Sylvester properties, and had no thought about Bud’s predicament.
Sylvester Mason III at present has a warrant out for his arrest in Tulsa County for a bogus examine cost. In Your Nook tried to talk with Sylvester in a number of methods, however by no means heard again.
Bud tells KFOR he’s seeking to contest the property data on the Oklahoma County Courthouse.
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