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Ruben Ramon
  • Appraiser
  • Grand Ledge, MI
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Seller problems with Wholesale deal

Ruben Ramon
  • Appraiser
  • Grand Ledge, MI
Posted Aug 3 2008, 10:45

I am coordinating a wholesale deal in Michigan. The seller is in foreclosure, and I am almost done negotating with the banks. I found out late last week, that to move out, she sold the fridge, microwave, shed, playhouse (real property) all the draperies and refuses to give all the keys back (she said that she only had one key, she has given that back). The house now smells like urine too. She did this in direct violation of our contract. My end buyer is P____ ___. The final price plus the assignment fee is going to be around $259,000. I stand to make around $15,000 on this deal.

I need to try to keep the deal together as I have a lot riding on it. She sold so much stuff that even if I assigned it to him for free, the seller will still probably have to put money into the property to put it back into the condition it was when all the contracts were signed.

Any suggestions? By the way, the seller has no money either.

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