All Forum Posts by: Chris Colvard

I vote at for google voice. I am using 5 numbers that I can answer or call out on from my Iphone app.

I can only say that you must totally cover yourself on this.

My advice is not to do it!

If you do not have mortgage approval don't even consider it.

A lease would be stand a alone situation that would need to have a deposit that is high or equal to earnest money.

Problem is tenant rights etc...

Probably worth talking with an experienced real estate attorney to bullet proof anything considered.

See what happened to my friends daughter here:

http://www.biggerpockets.com/forums/93/topics/67156-short-sale-nightmare

You should only pay taxes on the amount of payments received per year on an installment sale.

These contacts are well worth the time. You can meet future sellers and buyers. Need a contractor, just ask someone there.

Scott:

Buyers breach and damages is separate and apart from agents damages/actions.

Two distinct cases. Although tied to this transaction, each has a separate liability for this.

Hey guys:

Jon & Scott, you are both totally correct. I have no interest in this property as a wholesale deal or otherwise. Simply trying to help a friend's daughter.

Jeff, while you may have 70 SS deals under your belt, when it comes to the legal stuff, let's just say I'll pass on your advise.

I have under my employment, a Texas licensed attorney. We have researched this and it is a gross negligent case against the agent and the broker. In addition, the buyer breached 2 contracts.

Buyer is willing to settle for $2,500.00 by admission. (2 witnesses listing agent and buyer agent, plus in writing) To anyone that does not not how to settle a case like this, it's a slam dunk. Damages far exceed this.

I have proof of funds from buyer that exceeds $15K cash in bank.

Attorney duties - demand letter to buyer - you owe $10K we'll let off the hook for &7K, if you sign affidavit and agree to testify against agent.

Demand letter to agent & broker, you owe for negligence, breach of TREC rules # 1 - failure to deposit escrow funds, # 2 practicing law without a license, # 3 gross negligence.

Pay before case filed or, agent looses license for items 1 & 2. Broker gets fined and has liability for 1, 2 & 3.

How much do you think they will pay to avoid turning over to E & O?

Case filed equals agent has no license & broker still liable.

Please let me know what you think.

Talk to him and be clear about what you want.

He ma not understand that you really expect him to do the same job for you that he does for himself.

Prefect advice Cheryl.

Jon,

What's your take on this latest development?

If you threatened, call the police and at least have it documented by a police report. If it's bad file charges.

That should get you off the hook to do an eviction and avoid a law suit.