All Forum Posts by: Kalimah Jenkins

@Chloey M. I have no idea :).  Can’t remember yesterday.  Such a long time and many deals ago.  Sorry.

I did get it all figured out. I sent a couple of letters (I am an attorney), got in touch with the right people. They initially tried to have him pay off the loan. I essentially threatened them with the 1099 (FHA) that they were already paid on. No double dipping allowed. In any event, they released the lien and I purchased the house.

This is a 3 bedroom 1 bath turnkey rental located in downtown powder springs and backs up to the Silver Comet Trail.  Entrance to the trail is two houses away.  Section 8 tenant paying $1,100 per month.  Price:  $125,000.  Realtors add your fee.  This is not a wholesale deal.  Willing to finance 50% of purchase.  30 year amort, 5 year balloon at 6.5%.  This is a good property, for a person looking for a turnkey rental with a good tenant in place.

I think the first thing to do is to have the agent (in writing) Express that you are seeking to cancel the contract unless new amendments are signed.  Further, you do not agree to release of your escrow funds.

Even in this tight market, the right house will come along.  

As I stated, stay in touch because I can probably get an attorney friend to write a letter on your behalf and it not be too expensive.  After that, small claims may be your best option because any attorneys fees would eat up the $2,000.  But think of it this way, seller is in the same position.  Seller can’t just keep your money either without hiring an attorney too.  So, they may be more reasonable once they understand this.  No funds can be released to seller without your signature.

Ok with all of that said, if they won’t sign the amendment, you’re deal is essentially dead.  I was asking all of those questions to see where you were.  I am a non practicing attorney (so not giving legal advice), but I can refer you to an attorney.  Problem is what you originally noted.  $2,000 is a small amount in terms of hiring someone.  Best course of action may be to have an attorney send a strongly worded letter for you and hope that works.  If it doesn’t, you may have to go to small claims yourself but from what you said, it sounds as though you should be able to get your escrow back.  In truth, you never got a mortgage.  Did you let that contingency date pass?

Also, when did the deal officially fall through? You didn't sign releases I assume? Is this a cash deal or mortgage? Did you use a standard MLS contract?

Ok so what I’m unclear about is are you saying that the agents’ attempt to save the deal wasn’t enough?  In other words, you feel a further reduction is warranted?

Is the amendment you’re seeking an additional price reduction?

Lastly, when you requested the earnest money back IN WRITING, what response did you get?  And from whom?

@Erin Church Did the property actually close?  I am assuming you were the purchaser but I’m unclear because you indicate that the agents kicked in the commission.

Or are you saying that you ultimately backed out due to the error but since it was after DD, seller wants to keep your deposit?

@Karim Jiwani Hey I’m a rehabber in cobb and I have a really good company who can patch in, lay it, and refinish it.  PM me.