All Forum Posts by: Account Closed

Is there any acceptable clause or stip to allow for making multiple simultaneous counteroffers, such that only the highest response from the buyers will be binding? I recognize this is where "highest and best" comes in (as an alternative to countering everyone). Just wondering if there's another way.

In short: not a good area. You might be able to find a deal because a lot of investors stay away, but I would recommend proceeding with caution.

@Matthew G. If the seller changes the terms, that would be a counteroffer, not an acceptance because there is no "meeting of the minds" on the new term(s).

Short answer: your signed offers are potentially binding. The consideration is the purchase price. My understanding is that most people address this issue by including a due diligence contingency that allows them to back out if multiple offers happen to be accepted and cannot all be funded. Just consider the impact on your reputation.

Supply will certainly increase, slowly, from current levels as prices rise and more previously underwater sellers are able to sell. The main question is whether that will result in a "market drop," or continued price appreciation at a much slower pace as the labor market improves (my take).

@Justin B. You seem pretty bearish based on the links that I've seen you post. Nothing wrong with that, I agree the numbers bear watching. Just keep in mind that there are other explanations for a drop in mortgage originations besides a market that is about to free fall, primarily a lack of inventory (which is bullish for prices).

Be careful about filing documents in the real estate records without a pending lawsuit. You open yourself up to a slander of title claim. This goes back to that "get an attorney" advice.

Many of the larger firms that routinely handle foreclosures have dedicated portions of their website with the monthly listings and will post a starting bid a few days before the sale.

First, a disclaimer: I AM NOT A WASHINGTON ATTORNEY AND AM NOT GIVING YOU LEGAL ADVICE.

You need a lawyer. A mechanic's lien does not apply in this situation.

If it were me, I would make sure the buyer was on actual notice of the title problem with a polite call to the agents on both sides advising them of the deed restrictions and the current problem, and asking how they intend to address it before closing. If the buyer doesn't know about the issue and the sale closes, your options narrow considerably. Stay strictly to the facts. You do not want to open yourself up to a claim by the seller that you tortiously interfered with his contract.

I have no clue what WA law is, but, if the seller refuses to deal, then your best bet in GA would be to file a lawsuit for breach of the deed restriction, trespass, and any other theories your lawyer can come up with, combined with a lis pendens filed in the real estate records which will prevent the sale from closing. I imagine WA has a similar remedy.

Similar to Steve's point, if you have to ask this question, you should not be trying to buy on the courthouse steps. There are many rules, exceptions, and exceptions to the exceptions, all of which will depend on your state's law.