pilot76180 51 Report post Posted January 26, 2011 You're a newly wed.....tell your wife you have one and want her to try to hum a few bars....HA!!!!!!Hey...she's married..what's she gonna do?! Tell her it's time to meet the REAL COLE!!!!! Share this post Link to post Share on other sites
colehaynes 0 Report post Posted January 27, 2011 BAHAHAHA Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 27, 2011 I think we're getting real close to hiring a full time moderator for the board. Back to the matter at hand. . .Neither applicant is giving me a warm, fuzzy feeling. Regardless, why are you getting so personally involved in the decision? Provide the homeowner with the info and let him pick and choose. Offer a helping hand to some extent but don't go so far as to make the decision. If things don't work out, (and with these two applicants that isn't a far fetched possibility), you're the one who will be blamed. Share this post Link to post Share on other sites
verbatim 1 Report post Posted January 27, 2011 Well i think the cop has just become a cop, not to long out of training i believe. The other guys repo was October of 08. Not sure if he's w-2'd or not as he's a car salesman but will find out. Quick question: The owner is not moving out until mid March or April. Do I have to put the deposit in an earnest $ account and wait until tenant moves in or can everyone sign their autograph's and I take my check and go? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 27, 2011 Quick question: The owner is not moving out until mid March or April. Do I have to put the deposit in an earnest $ account and wait until tenant moves in or can everyone sign their autograph's and I take my check and go?When the lease agreement is signed, that's when I expect the option money to be paid to me. That money is nonrefundable as stated in the agreement. Therefore, there's no need to depoist into any account other than your own. Share this post Link to post Share on other sites
verbatim 1 Report post Posted January 27, 2011 Thanks MC. So I spoke to candidate 2 and he wants 21 days to get me 5k and pay an additional $200 per month for the 1st year to make up the remaining $2500. Candidate 1 when asked if he could come up with more than 3k down said "i can come with another 3 but i would rather put it towards repairs blah blah blah. Can I just meet with the owner this weekend and talk to him about the numbers and sign something?" I may have stated this wrong but i told him "i have been assigned the task of choosing the buyer, signing the contracts and taking the seller a check. Any numbers you need to look over i can email you for your review and if you want we can sign the papers." Should i have handled it differently? I haven't emailed him anything yet Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 28, 2011 So I spoke to candidate 2 and he wants 21 days to get me 5k and pay an additional $200 per month for the 1st year to make up the remaining $2500. Tell him, politely, that when he has the $5K in hand to give you a call. But that in the meantime you will continue to market the property. If he is serious and wants to hold the property then he at least needs to put up a nonrefundable piece of that option consideration when the papers are signed.As for the $200/mo, as has been said here previously, anything received after the initial payment is an unexpected bonus. Candidate 1 when asked if he could come up with more than 3k down said "i can come with another 3 but i would rather put it towards repairs blah blah blah. Can I just meet with the owner this weekend and talk to him about the numbers and sign something?" I may have stated this wrong but i told him "i have been assigned the task of choosing the buyer, signing the contracts and taking the seller a check. Any numbers you need to look over i can email you for your review and if you want we can sign the papers." Should i have handled it differently? I haven't emailed him anything yet He's back to wanting to make repairs and alterations. You know the drill, verb. No alterations or changes to the house until he is on title, or until he receives written permission from the homeowner. As for your reply, remember that less is more. I just tell the t/b's that "I own a property management company and the homeowner asked me to help him with this". That's it. Nothing more need be said. Share this post Link to post Share on other sites
verbatim 1 Report post Posted February 1, 2011 Pure comedy! So candidate 1, the new cop, ex realtor, called today with a list of notes he had written down. It was so funny I asked him to type it up in an email so i could post it here.Remember, the comps are between 200-215k for the home in question, and this guys middle score is a 533 with 2 evictions on his credit. [all that's in my previous post.] My advertisement: sale price: 213k - rent 1375 - rent credit: 510 for 12 months - - lease term: 18 months - min deposit: 4k but i inform that getting as close to 3.5% will increase chances. His notes * Sale price to be 199,000 (which is what he has it listed for with Realtor) * 18 month lease option * 3,000 down non-refundable if defaulted or all being credited to purchase price * rent 1350 per month due on the first of the month with 5 day grace period. with 510.09 per month being credited towards purchase price for length of lease or non-refundable if defaulted * monthly confirmation from owners lender verifying mortgage is current * walk thru 24 hours prior to close * All utilities are to remain on for 48 hours after close to ensure no lapse in service * cost of any damage taken from monthly rent until fully reimbursed for repairs with monthly credit of 510.09 still being credited to purchase price from owner. * take possession no later than 25 march 2011 * monthly rent starts 01 april 2011 * agreed that in the event of property damage resulting in any type of insurance claim all monies go directly for said repairs and balance be credited to purchase price * no restrictions for property improvements as long as proper permits and/or local codes are obtained and followed with all liability falling upon company/contractor hired. * 1 yr home warranty to include but not limited to complete structure, roof, electrical, heating/air units, all plumbing to include hot water heater, security system, and all appliances that remain with property * services for warranty repairs being at discretion of Josh and/or Jodie Bond with minimum of two quotes giving before repairs made, due to owner out of country. Any out of pocket expense for repairs will be deducted from monthly rent until balance is paid with monthly credit of 510.09 still being credited to purchase price from owner. * Flat screen sony TV in family room to remain with property * Refrigerator in Kitchen to remain with property * Washer/dryer to remain with property * all other attached appliances to remain with property to include but not limit garbage disposal, hot water heater, outside tv equipment etc. * cost of gutters for side and rear of property be credited to sale price if installed before sale close date. * if owner defaults on sale all monies to include but not limit to full rent amount of 1350 per each month occupied up until relocation and prorated per day as needed, cost of any improvements and fees associated with improvements made, deposits for -address- or relocation deposits to include but not limit utility services, cost of relocation expenses due to owner default, all legal fees in connection with default, any interest of escrow monies or deposits held be refunded, and a 12% interest fee be added to said balances and be paid within 7 business days to -candidate 1-. * if owner default on contract before 25 march close date owner agrees to to reimburse -candidate 1- any and all expenses in connection with anticipation of occupying -address- trail plus 12% interest I don't even know how to reply. I feel like ignoring him from now on, but dont feel like marketing more. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 1, 2011 That is truly comedic! Ya gotta give the guy credit, verb. I mean, considering his credit score and eviction history, he sure has a set. I'd give this guy a wide berth because he is letting you know now that he will be nothing but hell to deal with during the next 18 months. I understand you want the deal done, but this reeks of a Tenant-From-Hell story down the road. Share this post Link to post Share on other sites
pilot76180 51 Report post Posted February 1, 2011 OMG!!!PLEASE...PLEASE post his contact info here!!!!! PLEASE!!!!!!!!!! Share this post Link to post Share on other sites
pilot76180 51 Report post Posted February 1, 2011 HA!!! Tell the guy the owner has requested a list of his requests in writing, not type....Then, if he produces that, say "Oh...didn't I tell you? He specifically said he's only take it in red crayon on a Big Chief Tablet signed by your deceased great grandmother...can you do that? Is that going to be a deal killer?" Share this post Link to post Share on other sites
verbatim 1 Report post Posted February 1, 2011 You guys are the best! Pilot, I almost had to make a trip to best buy to get another laptop after i spit my water up on this one laughing!!! This guy said "my wife wants the tv on the wall!" I was like W.T.F! Did you really just pull some low comps and tell me you want to buy the house in 18 months for the lowest current comp, with 9k in rent credits, less than 3months rent down, and then reduce the rent every month? I wanted to record that call so bad! This one is classic. Now he's harassing me by text. Sent 1 asking when i would talk to the seller and i didn't reply so 5 minutes later he sent "???" Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 1, 2011 I wouldn't bother the owner with this guy for concerns about frightening the owner away. Text him back and tell him the owner said there are too many demands and he wants you to look for someone else. Then change your phone number and start wearing one of these: Share this post Link to post Share on other sites
verbatim 1 Report post Posted February 2, 2011 And i already have a pair of shades like that to hide from the due on sale clause police! Disheartening as the owner liked this guy the most because he's a cop and has a family. Our current # 2 guy is a car salesman. Share this post Link to post Share on other sites
