Help !! RE Agent is killing my wholesale deal !!
As some of you may already know I tied up 2 free and clear wholesale properties under contract Yesterday. Here is the situation:
Motivated seller called, we met, I offered , he agreed, we signed two purchase agreements.
ONE of the two properties had a listing agreement with a RE agent. So we both agreed, we would just give her the commission and call it a day.
The other property was not listed and had nothing to do with the RE agent.
This morning I get a call from the agent stating that the seller was no longer following through on BOTH properties.
I spoke to her later today and she said that she is going to sell BOTH properties now to some other buyer.
I am thinking of letting the one originally tied up with the RE agent go but filing a memorandum of contact with the county clerk and recorders office tomorrow morning on the other property that had nothing to do with the agent and enforce the contract.
I know this isn't a legal advice forum , but any comments, recommendation or suggestions would be greatly appreciated.
Most Popular Reply
You gave up too easily, IMO. I would have followed through on the lis pendens, and would have contacted the RE Commission as well, given that the seller was being coerced into losing a deal he wanted. If the seller didn't have the capacity to sign the PS agreement, he liely didnt have the capacity to sign the listing agreement, btw.