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All Forum Posts by: Adam Ruiz

Adam Ruiz has started 1 posts and replied 6 times.

Post: Sellers wanting to sue for liquidated damages.

Adam RuizPosted
  • Rental Property Investor
  • Boise, ID
  • Posts 6
  • Votes 2

@JD Martin I appreciate the advice. 🤞🏼 It works out for everyone involved.

Post: Sellers wanting to sue for liquidated damages.

Adam RuizPosted
  • Rental Property Investor
  • Boise, ID
  • Posts 6
  • Votes 2

@Russell Brazil thanks. What would you recommend settling on?

Post: Sellers wanting to sue for liquidated damages.

Adam RuizPosted
  • Rental Property Investor
  • Boise, ID
  • Posts 6
  • Votes 2

With everything going on, we had to make an unfortunate decision and pull the plug on our upcoming closing. I feel terrible for all parties involved but without a true economic foresight I can't reasonably jump into this new house. I told my agent that we understood we'd lose our EMD. But now the sellers broker put it in their head to sue me for liquidated damages. Above and beyond my deposit. The house needed to have some work done before it should have been listed so we requested it. They claim they didn't know it was an issue but I doubt anyone else would have put an offer without it being corrected. I'm not asking for sympathy but understand it's been a stressful couple of weeks and this is adding to it. I want to do right by everyone involved but getting sued into buying a house is a unmanageable pill to swallow.

Thoughts or advice?

Post: What's holding you back from buying your 1st investment property?

Adam RuizPosted
  • Rental Property Investor
  • Boise, ID
  • Posts 6
  • Votes 2

@Christian Becker awesome info. I'm also from Idaho. Do you know what iccu requires for investment Properties

Post: What's holding you back from buying your 1st investment property?

Adam RuizPosted
  • Rental Property Investor
  • Boise, ID
  • Posts 6
  • Votes 2

@Phil Denton you and I sound like were in the same boat. Good luck

Post: What's holding you back from buying your 1st investment property?

Adam RuizPosted
  • Rental Property Investor
  • Boise, ID
  • Posts 6
  • Votes 2

@Salvatore Lentini general knowledge of the first steps. I started my LLC today guess I need to see about getting a broker and an agent.