All Forum Posts by: Dwayne Poster

Chill, maybe you’ll get an offer you can’t refuse

 Perfect timing to request that satisfaction guarantee, and keep us posted.

In my area, banks have discretion, set a probate trigger point as policy, and will accept a will and notary up to that point.Titles need the grant.

I live in an oil and gas economy, which is cyclic by nature. Windows of opportunity open and close predictably over the cycles. I’m hoping the slump comes soon so I can enjoy one more buy cycle before my time is done. And yes, a sell window is currently wide open.

Less story more fact

Another way to consider this is that the listing Realtor has erred, and if you let them off the hook, they will miss s valuable lesson. Make no mistake, from what you’ve said, this seller could find themselves in a very difficult position. Consider it tough love.

A case in point.  My seller was told probate could take a year, so he rented the property. When grant was issued, he called to say he couldn’t deliver vacant. I said no problem, you pay me a portion of that rent every month you are unable to uphold the agreement, and no rush, we can do this forever. 3 months later we were able to close with a price reduction of that rent.

If I was purchasing your property as investment income, and the seller is delinquent, I would notify everyone involved that I will be taking action. What action is up to you, considering your language. If you intended to rent, then market rent is realistic. The seller, if given bad advice would then go after their Realtor. Your Realtor wouldn’t have known, but someone should have pulled title, so a judge may spread out culpability. Often, the Seller will be happy to renegotiate price to mitigate larger action. 

Real estate is a business of contract. You use contract language to control your interests. Understand that if you violate a contract, you will be subject to penalties. Poor contract language provides a gateway for attorneys to draw away value, so the better skilled you are at contracting, the better business person you will be.

In the end, you might walk away to avoid being leveraged by an attorney, but while you are in the drivers seat, try out a few maneuvers to see how it feels. 

Try finding an insurance company that will cover with a buried tank. 

My suggestion would be to locate all applicable legislation and become familiar with it’s application. Knowing how the process works in the legal frame work helps you decide when and were is best to insert yourself into the process.  Once you understand the laws, you might find a few tips and strategies scattered about, but you’ll quickly realize there are no books that safely apply to any one opportunity. An experienced practitioner in your local area would be the ultimate resource to spend time with strategizing. 

I just have to ask, did you get your name, or is someone trying to sell that to you now?