MichaelC 160 Report post Posted January 16, 2013 I dont want to put myself in any situation that gets me grief. Agree totally. Simple is best. So, that guy wants to do an inspection and is making this more difficult then needs be i Think. One of those types. Next. . . Now got another buyer interested for a lease with option to buy. Seller has agreed to terms, but now i will be simply handing over my tenant buyer to her for a fee then im out. I have a lease with option with seller. She has agreed to take less then original contract $110,00 to $99,000 same terms and monthly. And now i am wondering what i need to have signed? with who? and be able to walk away HAPPY....So you will be assigning your sandwich lease deal to the t/b? Typically that means you sell your interest in the deal via an Assignment Agreement for a negotiated amount that is agreeable between you and the t/b. That assignment fee doesn't apply towards the purchase, nor is it considered option money. If that isn't going to fly with the t/b, tear up the deal with the seller and redo the deal as a CA with the latest figures plugged in, then use the CA Assignment Agreement to wrap it up. Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted January 18, 2013 So. Got with t/b today. Go through the motions then they tell me they wont have all monies till the first of Feb.... told them I'd have to se about that working for everybody. Seller and I. Don't want to stop marketing till I get money for deal. Don't want to lose good t/b.. What would you do? Share this post Link to post Share on other sites
<Steve> 82 Report post Posted January 19, 2013 I can hold the house with part of the option consideration (non-refundable). The balance is due with the first month's rent at or before move-in. Then they get the keys. 1 Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 19, 2013 Like Steve said. Insist on some amount of option consideration now, nonrefundable of course. In the meantime, continue to market the property as if these folks don't exist. If they walk, they lose. If they're legit, they follow up with the payment you've agreed to and your deal is done. Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted January 22, 2013 This one still going. I got that t/b to give up $100.00 for me to know they are serious. I will still market and told them if i get a better deal i would take it and give the money back. No paperwork involved. Property has lost alot of interest, for amount of work needed. So, i know they want it and feel they would be a good fit for the place. And now, since im working on giving my t/b to my seller. She comes to me with are they married? They are engaged for this summer and have been together for 3 years. She has hessitated on such herself, base on her religious beliefs. Not sure how to deal with such, is it as touchy as im taking it?.... Figuring you all are picking up what im laying down??? Seller has made clear that shes a believer from the start. But this is a first for this newbie and how this plays out?????? Praying it works out..... Share this post Link to post Share on other sites
<Steve> 82 Report post Posted January 22, 2013 I typically like to get at least half of the option consideration, but if you are still able to show the house to other potential tenant/buyers that's a good thing. She comes to me with are they married? They are engaged for this summer and have been together for 3 years. She has hessitated on such herself, base on her religious beliefs.lol, I am getting ready to present a gay couple in a similar situation. What can you do? The wife needs new shoes! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 23, 2013 $100 is nothing. By all means, continue to market aggressively because I've had prospects walk away from ten times that amount simply because they changed their mind.As for the marriage concern of the owner, that's a touchy subject. I suspect that in this day and age that rejecting this couple for religious beliefs would be an open door for some attorney to bring a multimillion dollar discrimination lawsuit against her. I wouldn't mention this to the couple. If they are rejected, say it's for financial reasons or credit score or some such thing. Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted January 23, 2013 So I'm not to mention such to t/b.. am still marketing for the ONE...Interest in the property is dwindled and her terms are squeezing my pool of t/b for the house. She asked if they would make it legal now then have a wedding later... WTHeck? How do I get them to do such? Share this post Link to post Share on other sites
<Steve> 82 Report post Posted January 23, 2013 MC is right! These days people are crazed with political correctness. It is really a problem with the seller. Tell the seller this is a great couple who are getting married and they are wanting to get a house to start their life together. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 23, 2013 You can't allow the homeowner to put you in such a position. Take control of the situation and tell her that her position might be considered discriminatory and open her up to a very costly lawsuit. And tell her that interest is waning as the property goes stale. Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted January 23, 2013 Ok. Had a talk with her today. She mentioned, why havnt they got married? And if they would go do it. Then have there wedding another time? I told her the discriminitory situation that could arise. She said she would talk with her pastor about such and would get back to me.The t/b do want the property and so are willing to do what needs done, but didnt mention the married now thing. She said she would say it to them if need be. Guessing she's one of those whos beliefs are what they are. Whats a newbie to do?????So, i will look to hear from her and see what the pastor says... Keeping in control as much as possible. All is good for this one beyond the personal beliefs.... Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 23, 2013 Well, I must say that in 20 years of doing deals I've run into all sorts of unexpected hurdles and quirky behavior, from both sellers and buyers. But this is a first. Refusing to do the deal because the t/b's aren't legally married. Of course, you may not think so, but I'm finding this somewhat entertaining. Waiting for the next episode of this new sitcom. . . 1 Share this post Link to post Share on other sites
<Steve> 82 Report post Posted January 23, 2013 A definite TV reality show. Everyone is trying to get in on it. Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted January 23, 2013 I am always entertaining myself and those around me. Because this $%&^ only seems to happen to me. As these things happen always, these are the days of MY life... A first for The most naked one here?? AWWW $%#! son.Glad i can entertain. Maybe i do have a chance at a reality show.. I'll call it. This $#%^ dosnt happen unless your me. You might be on to something...Not sure how this episode will conclude or when. But stay tuned as the man is not done with me yet...... Learning and burning.... 1 Share this post Link to post Share on other sites
ErikOk 10 Report post Posted January 24, 2013 I had a good one last night. A tenant/buyer called into our number that has property information on it with an automated message. She didn't leave a message for a call-back. She also didn't realize that she didn't hang up her phone. So we got almost 3 minutes of her griping her son out and how he couldn't afford the rent and how the stuff he was doing to make $ was illegal and that she would be visiting him in jail on Sundays, etc. 1 Share this post Link to post Share on other sites
