A deal without worry?

5 Replies

I am isting a bank property on a manufactured home on 6 acres it is 20 years old will need a new roof, about every wall has been punched through, carpet will need to be replaced, possibly no HUD plate as I didn't see it. Bank says sell as is, list for $68K I know personally the adjoining property owner wants to add to his property and will pay the $68K pronto, he already had precertification of the loan done. I took the offer from a flipper friend of about $70K and shut the offer off early thereby rejecting the offer of $72,000 by the adjoining property owner.

  So my acquaintance who I have sold properties met the adjoining land owner as he thought the property might be being stolen from.  In the discussion the adjoining land owner said he was very upset over the matter and my flipper advised him he was the owner. The adjoining land owner was about to part when my flipper offered to sell it him and asked for a offer and he offered $85K but was rejected as my flipper wants $95 K as is with no repair. Do you think we can pull this off and split the $25K between us? Or do you think the adjacent owner may back off,start a war by placing wrecked autos in his field, clear cut the woods to destroy the properties view or maybe get stuck with it as we would have to put at least $20K into t to sell it if we could. The adjacent property owner has already reported me for not having workers comp for my maintenance crews,

First off, do think think you did the right thing as an agent for your client in "shutting it off" and rejecting a higher offer ? Did your client authorize you to do so ?

Why do you believe you are entitled to 1/2 of the profit ?

Yes the adjoining land owner had told me he wanted to buy the property but went and got his own realtor to represent him cutting into my commission. Besides I own my own property maintenance company that can do the repair work on the property if the adjoining landowner refuses to pay what we want for the as is property.

Wow! You are a real estate person who should loose his license! How can you show you have your LISTING client's best interest by your actions?

And the neighbor potential buyer had good insight to see your character and seek someone else to represent him.

Hoping you loose your license before you do that to more sellers.

Originally posted by @Billy P Whyde :

The property is sold,  however the seller removed me from their agent list but ya know money is money and I was attempting to get as much as I could.

 No, no, no, no, no and many more no's. Money isn't money and getting as much as you could is greedy. However if you had done the right thing and represented your client to the best of your abilities for your client and not for you; you would not have been removed from their agent list and you would have gotten more work from that client. The more you do things like that, the more bridges you burn, and eventually you'll burn the wrong bridge and it'll be the end of your career. Always think about the big picture, because money is such a small aspect of it.