puls1234 0 Report post Posted April 11, 2009 Put a tenant buyer on a cooperative assignment into a friend of mines place last August. She put 15k down and 12k went to me(my LLC) and 3k to the owner. Well as soon as she moved in she was bitching about this and that. Then she started telling the owner that she wanted to move out and get her non refundable money down back. Then came the letter from her attorney to me saying the "conract was unfair especially the assignment of agreement part". The attorney also stated in the letter that she had some serious concerns about the contract as a whole! The letter stated that they want the 15k dollars back so we can avoid "litigation." So I passed the letter on to my real estate attorney on Friday and he said he would contact me on Monday after looking at the contracts etc etc. I am thinking this woman is just trying to shake us down to see if she can get some of her money back. The contract was in my llc's name signed by my LLC by me as a member so that is good. Has anyone else had this happen to them? Any thoughts would be great! Pete Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted April 12, 2009 Hey Pete! Long time, no see. Sounds to me like your T/B is having some buyer's remorse.What's the bitching about? And what was so "unfair" with the agreements.They seem pretty fair and tight to me...pretty cut-n-dry.If there was a problem with the agreements and amount put down,she should've said so to begin with. Are you currently doing any CAs these days? Hope everything works out for you. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 12, 2009 Has anyone else ever had a frivilous lawsuit filed against them? I'd say most of us probably have. And that's exactly what this is, in my opinion. A disgruntled individual who wants her money back, despite the agreements she signed being as clear as the desert sky. Anyone in this business long enough will deal with a similiar situation at some point. That's why we have, unfortunately, attorneys. I agree this is just a shakedown by this woman, hoping to get some cash back. I'm sure it'll work out, Pete. Good luck, and keep us posted. Share this post Link to post Share on other sites
pilot76180 51 Report post Posted April 13, 2009 Put a tenant buyer on a cooperative assignment into a friend of mines place last August. She put 15k down and 12k went to me(my LLC) and 3k to the owner. Well as soon as she moved in she was bitching about this and that. Then she started telling the owner that she wanted to move out and get her non refundable money down back. Then came the letter from her attorney to me saying the "conract was unfair especially the assignment of agreement part". The attorney also stated in the letter that she had some serious concerns about the contract as a whole! The letter stated that they want the 15k dollars back so we can avoid "litigation." So I passed the letter on to my real estate attorney on Friday and he said he would contact me on Monday after looking at the contracts etc etc. I am thinking this woman is just trying to shake us down to see if she can get some of her money back. The contract was in my llc's name signed by my LLC by me as a member so that is good. Has anyone else had this happen to them? Any thoughts would be great! Pete Take that letter and use it when you run out of two ply. When I had my legal hymen busted, it was all very emotional....OK, maybe not, but how often can you use the word hymen in a sentence?I used to get letters mainly due to a partner I had previously, but it's amazing how someone will pay an attorney $150 to write a letter to scare you. I had an attorney call me one time and she wanted my address. I said "Are you serious? You need to contact my registered agent." She said "Fine, then who is that?" I said "Seriously? It's all on public record with the state. You mean you haven't even looked that up yet?" She HUNG UP ON ME. Never sent me squat. Anyway, I just don't get any issues now, but it involves keeping the proper CYA's in place and running a tight ship. Don't fret over this "mean letter", but certainly let your attorney respond and then the other attorney will send a letter stating "I will advise my client on her options." And that is that. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 13, 2009 When I had my legal hymen busted, it was all very emotional....OK, maybe not, but how often can you use the word hymen in a sentence?For me, I would say almost daily. Then again, the clergy I hang with aren't traditionalists. Don't fret over this "mean letter", but certainly let your attorney respond and then the other attorney will send a letter stating "I will advise my client on her options." And that is that.Exactly. Share this post Link to post Share on other sites
puls1234 0 Report post Posted April 14, 2009 Talked to my attorney today and he agreed its ridiculous. The tenant buyers attorney said that his client did not know the money was "non refundable!" He also said she has MS and was recently divorced. He also said that he didnt know what kind of shell game i was playing! LOL He also said he was unfamiliar with this type of transaction!!! Does her attorney live in the back woods? So my attorney told me that he would would call her attorney first and then follow up with a letter. My attorney will call me back Wednesday. Its absolutely amazing how silly people get. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 14, 2009 Does her attorney live in the back woods?Well, Pete, you are in Montana. Share this post Link to post Share on other sites
Mr Investor 0 Report post Posted April 14, 2009 Welcome to America the land of the sue happy slapnuts Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 14, 2009 Welcome to America the land of the sue happy slapnuts As evidenced by this: who can I sue? Share this post Link to post Share on other sites
Guest jvmccall Report post Posted April 15, 2009 This has happened to me twice, but with not as much money - once for $5,000 (option consideration) & the other for $1,000 (deposit to hold the house). Your attorney is correct, it's ridiculous. But what are you going to do? You could let them sue you & fight it in court. But then you are going to have to pay your lawyer. I offered to settle both times for half. Both times they had a real lawyer who was threatening to follow through with the lawsuit. For me, it wasn't worth the fight or all the energy it would require. My lawyer did make the tenant-buyers sign a letter stating that they could never make another claim, and they signed it. If I would have fought it, I am sure I would have won. However, when you're talking about $15,000, I would fight that! I still wouldn't be surprised if the judge makes you pay some of the money back though. Share this post Link to post Share on other sites
Mr Investor 0 Report post Posted April 15, 2009 Welcome to America the land of the sue happy slapnuts As evidenced by this: who can I sue? LOL it's amazing how our judicial system has become a three ring circus filled with clowns!!!! Share this post Link to post Share on other sites
pilot76180 51 Report post Posted April 15, 2009 This has happened to me twice, but with not as much money - once for $5,000 (option consideration) & the other for $1,000 (deposit to hold the house). Your attorney is correct, it's ridiculous. But what are you going to do? You could let them sue you & fight it in court. But then you are going to have to pay your lawyer. I offered to settle both times for half. Both times they had a real lawyer who was threatening to follow through with the lawsuit. For me, it wasn't worth the fight or all the energy it would require. My lawyer did make the tenant-buyers sign a letter stating that they could never make another claim, and they signed it. If I would have fought it, I am sure I would have won. However, when you're talking about $15,000, I would fight that! I still wouldn't be surprised if the judge makes you pay some of the money back though.I had to go to arbitration once. Here's what I found that worked for me.... show up in a wheelchair with a colostomy bag hanging off the side, and pretend that your left side has no movement at all. Case dismissed. Share this post Link to post Share on other sites
BEV! 0 Report post Posted April 16, 2009 Welcome to America the land of the sue happy slapnuts As evidenced by this: who can I sue? One of my uncles actually sued Safeway many years ago and Safeway settled out of court with my uncle for a HUGE amount But the catch was that in order for my uncle to get his $M's moolahs, he would be forced to sign a paper stating that he will not be allowed to ever work in the USA any more. He was happy to sign on the dotted lines right away, I mean, who needs to work with that kind of moolah anyway? BEV! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 17, 2009 Welcome to America the land of the sue happy slapnuts As evidenced by this: who can I sue? One of my uncles actually sued Safeway many years ago and Safeway settled out of court with my uncle for a HUGE amount But the catch was that in order for my uncle to get his $M's moolahs, he would be forced to sign a paper stating that he will not be allowed to ever work in the USA any more. He was happy to sign on the dotted lines right away, I mean, who needs to work with that kind of moolah anyway? BEV!America been berry, berry good to tio. Share this post Link to post Share on other sites
puls1234 0 Report post Posted April 21, 2009 My attorney talked with the tenant buyers attorney today and told him that we were not giving the money back because nothing was done incorrectly. The tenant buyers attorney said my company was "acting like a realtor without a license" and he said he would report this to the "Board of Realtors!" LOL My attorney said if that is what you feel you have to do go ahead! So that is all there is for now..... I think their s attorney is just trying to get some billable hours and make some money. It says right in michaels contracts we are not acting as a realtor or broker. It says it in plain english. Dont you think this attorney of theirs would have read that? And if he read that why would he say I was acting like a broker? Stupid!!! lol Share this post Link to post Share on other sites
