All Forum Posts by: Christopher Davis

Ok I hear you, maybe I should relax. But the vacation has nothing to do with it. That was all a couple weeks ago. She ignored my first message and request for a full week, I guess she was away. It takes 5 SECONDS to hit reply and let me know. So I sat for a week wondering why she was blowing me off. She has been dragging, nothing to do with her vacation. She also said she was going to send the signed lease last week and never did. It is now three weeks to renewal. I am not an experienced property owner who can patiently see through these things. I want a 12 mo lease in place. Which she said she would send, but now I'm not sure if it exists yet. I have used a property mgmt company in the past and they were very buttoned up and we renewed at least a month in advance. That's service. She also said she usually goes month to month after the first year? Why?! Doesn't that favor the tenant? Above all, month-to-month was never my plan. She now replies to some emails but not others where I ask questions. Thanks for the comment.

Hi, I have an out of state rental property that has been managed without issue for one year. The manager is a salty dog who I did not know, but who was recommended. 

Lease renewal comes up on Sept 15. During the renewal process this month, the property manager has slacked in communication and has not provided me with the signed renewal lease for the tenant.

She has ignored a message or two, and finally responded a week+ later that she was on vacation. (All it would have taken was a quick response originally to let me know instead of letting me hang indefinitely.) She replied that she would send the lease "this week." Well "this week" was actually last week. No further word from her. 

I'm pretty pissed about this for obvious reasons, but I'm not sure if I am over reacting? My problem is I don't know how to proceed. I want to be firm to her but not create a tense confrontation. Should I just relax and wait longer? My instincts are the opposite - I am irritated by this gradually deteriorating lapse in communication and effort. I have no problem if she is on vacation, but that does not explain ignoring messages and not doing what she says she's going to do. I have had issues with deadbeat builders and clueless realtors in the past, and when I start to get a bad vibe I am usually correct, and my patience is very thin. 

To me this is two strikes on her. If things go further south I will be interested in firing her and then my next post will be how to do that.

So to recap, how should I gauge my response and what should I say next that I need the renewal lease and maybe indicate I don't like the direction of things?

Thanks for any guidance.

  

Hi, I'm reading about the ins and outs of FSBO, (I'm the owner) and read something about whether or not you need to have an escrow agent or attorney to conduct the transaction, depending on your state. (Tennessee)

Just curious what this means...

I've bought a couple homes and in the standard transaction we only had the title company conduct the transaction. In this case I will hypothetically sell directly as owner without an agent.

Is the title company the escrow agent? Or is that something different? Do I need an attorney? (assuming nothing complicated involved.)

Thanks for any insight.

@Dorothy Moore Thanks so much for the reference!

Hi, Let's say you're selling and you have a buyer in hand already, you agree on a price. So basically you want to sell one party to another and no realtors are involved. Doesn't someone still need to administer the process and make sure all documents are in place, disclosures, any other component, work with the title company, etc. I understand the process in general but I really wouldn't have any idea how to manage it in practice. How does that work selling one party to another directly? Thanks for any input.

Can anyone recommend a good real estate lawyer based in Nashville? I need a consultation. Thank you very much. 

@Lynnette E. Thanks for the comments. This is a new construction house so there are virtually no repairs to be made honestly. Everything new. They did put $1250 already into the offer for "repairs," though I don't know yet what that refers to. I can ask. I'm thinking maybe it accounts for random minor things like changing locks, paint touchups, I don't know what else. There is a dead outside porch fan, but I didn't even mention that yet.  

@Sue Hough Thank you for the comments. So he could make an offer, but I would not be obligated to accept that offer correct? If I had another offer that was substantially higher, I would not be obligated to sell to him basically? Just to offer it to him for 'right of first refusal'.

My challenge right now is to determine if this was in writing somewhere. I have been scouring our purchase agreement and there is no mention. But I remember seeing it in writing as an addendum perhaps. Unless I am hallucinating. Does an addendum carry the same weight as the original purchase agreement?

A year ago I bought a new construction property from a builder. At the time spirits and moods were high. The house was a labor of love by the builder somewhat, according to him. In our conversations he said "Now Chris if you ever sell, I get first option to buy this house back at market rate." Haha I nodded, sure thing bud. I was not sure if he was serious or not.

Well, a year later and now I want to sell. The whole relationship has gone badly as his performance as a builder was extremely deficient and this whole year I've dealt with a lot of other minor contractual and performance failures on his part. (We closed with the house unfinished, my mistake, it has led to all kinds of problems, but that's another story.) He has failed in so many ways I almost filed complaints with multiple state agencies against him.

(I seem to remember seeing this buy-back statement of his written in the contract or some addendum, though I have been scouring it line by line all day to find it again, and I cannot. I may have dreamt it. I can't remember. I can't find it anywhere though.)

Either way, would this be something he could legally hold me to? If it were indeed written in the purchase agreement?

He has already been shown to play dirty. So there is no telling if he would some after me should I sell. I believe I could defend myself by pointing out all his other delinquencies in the project. We are no longer on speaking terms.

My intention is to unload to the highest bidder on the open market, and that may even be an iBuyer. I am considering multiple avenues to selling. I have no intention in calling him up and offering him the house.  

Hope this post is clear. Thanks for any input.

I am a homeowner, sort of investor and regular consumer of all things Bigger Pockets. I am contemplating selling my home and moving to another city. I purchased my home new construction a little over a year ago. It's a gorgeous house in a new development in an old neighborhood that will turn soon. I am looking at all angles to selling, and like anyone, hoping to save on commissions.

I have done some light research as the the market value of my home. From a few angles the numbers agree. It has gone up a bit as expected. On the open market with a traditional commission structure, I'd walk away with a tiny profit. Nothing to get excited about it.

I live in a hot market and of course some unexpected bidding war could erupt. Not something to gamble on, but it's possible.

Enter Opendoor. They just made me a HUGE offer. Like, almost 100k over what I expected as market value. Even with their crippling fee structure, their 'Final Offer" and my net takeaway is astronomically higher than anything I would expect on the open market. My initial reaction was "Yeah, I'll take that!" As far as the return from a pure investment perspective, after one year, it would make me look very smart. 

So I clear my head and then I'm thinking. What am I missing here? What is that I don't know that I don't know? It seems too good to be true.

I will schedule a follow up conversation with them to address my uncertainties and questions.

Does anyone have experience with Opendoor and can offer an opinion and what is going on here? Thanks for any input.