Is clouding title the only option when a seller gets cold feet?

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
6y

as a wholesaler clouding title to me depends on the situation..  if its a fact that the seller figured out they are being screwed and sold way to cheap then you let them move on.. its their property not yours.. and we want all owners to maximize their investments don't we.. ??

If like in my case I put up 40k in cash and the seller would not give it back because they would not close.. then yes I sued for performance.. too much money to just let them walk.. 20k later and almost 3 years of litigation that most people don't have the time or money for I won.. PS I had to put up the entire purchase price in CASH because that's what my contract said I was doing paying cash  into escrow on the close date and let it sit there their entire time.. and it was over 150k.. So how many have 200k in cash that can just sit in escrow.. many do most wholesalers might but wont.. Now I ended up with 3 new builds out of it that sold in the 600k range each so it still was profitable even with all the drag. 

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  • Account Closed
    Investor · Columbus, OH · Member since 2017 · 861 posts · 1k+ votes
    6y
    So, I think i recognize your logo as being the wholesalers that flooded my mailbox with like 20 flashy postcards all at once, so I am assuming this is a wholesale assignable contract deal?

    Ethically I would say to just move on. What do you stand to gain from clouding title of some desperate person who turned to a wholesaler? You want a couple grand payoff when they finally find a legit buyer?

    Obviously I dont know you or this situation, but this city is smaller than it seems, and reputations do spread.



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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y

    as a wholesaler clouding title to me depends on the situation..  if its a fact that the seller figured out they are being screwed and sold way to cheap then you let them move on.. its their property not yours.. and we want all owners to maximize their investments don't we.. ??

    If like in my case I put up 40k in cash and the seller would not give it back because they would not close.. then yes I sued for performance.. too much money to just let them walk.. 20k later and almost 3 years of litigation that most people don't have the time or money for I won.. PS I had to put up the entire purchase price in CASH because that's what my contract said I was doing paying cash  into escrow on the close date and let it sit there their entire time.. and it was over 150k.. So how many have 200k in cash that can just sit in escrow.. many do most wholesalers might but wont.. Now I ended up with 3 new builds out of it that sold in the 600k range each so it still was profitable even with all the drag. 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
  • Jacob Sampson
    Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes
    6y

    I agree with all of the above.  Let it go unless you have some real money involved and seller won't give it back.

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