Difficult People

[Chris Wyatt]

I found a good house for my first deal. The owner is elderly and his health going down hill so he's planning to move with family out of town. I made an offer and come to 60K all cash agreement. So I tell him I'd be there the next day to sign the paper work.

Well I show up, and to make a long story short, he asks if I have the money. I say, no, we're just signing the paperwork. You'll get the money when we close. I tried the explain the process of that this is just an agreement that we've come to a deal. We'll bring the papers to the title company, and in a few days they'll cut a check for you and we'll close the deal. He had his sister there too, and she didn't want him to sign either until they had their attorney look over it. I said thats fine and left them the agreement to take to their attorney.

Well later he calls me and says just come, I'll sign it. So I did, but he changed his mind and asked if I had the check in hand. I tried to explain again, but he sent me home. Today I called again, and asked if he wanted to talk.

He pretty much got really irritated and said that when I'm actually serious about his house, to come by with a check for 60 Grand and he'll sign the paper. Well I tried to get a couple words in, but really couldn't, and he still says no. I even offered to call his attorney for him, and he said no.

So what to do? He really wants to get out of the house but refuses to work with me or anyone else. Any one else had anyone like this?

[Jon Holdman]

Is this a really good deal? Do you have a title company that can do a search and issue title insurance without a formal closing? Are you willing to take the risk of not having title insurance if the search shows nothing? Do you have cash for the purchase, or do you need to finance?

If this is a great deal, you can be sure you have a clear title, and you have the cash, it may be worthwhile to do what he asks.