All Forum Posts by: Account Closed

Andresa, thanks sweetheart! I will keep you posted.

Good morning, everyone. There is always something remarkable that occurs in the midst of misfortune. Although I didn't get the Pierce Street deal secure due to a deposit issue, I did, however, manage to get one of my new buyers/associates the details on this sweet deal so that he can get his offer in. Guess what....his bid was accepted!!! I'm super excited for him, and I know that he will do incredibly well with this one. I love this REI game because of the networking opportunities, the ability to build a solid rapport with other investors, and just the beauty of helping each other reach our individual goals. I have several offers in on properties throughout Philadelphia and know for a fact that I'll get a few accepted or counter offers close to my desired purchase price. The plan is to flip these to other investors in as-is condition. I'm focusing on all parts of NE Philly and several areas in South Philly.

Hello, Kenneth. Perhaps you've found a contractor or two by now, but someone I'd recommend who is incredibly reasonable is Harry Campbell with H. Campbell & Sons Home Improvements. I'll inbox you his contact number.

Looking back at the text messages from this morning, the broker apologized and said it was her fault. I wondered why I couldn't just send a bank check to my title company today, but in order to secure the deal, HUD needed to sign by this morning upon receiving the funds - the 48 Hour rule. Again, short notice. I have nothing against the listing broker and will most definitely bid on any available homes that she has in the future.

Jeff, HUD wanted it by this morning, according to the broker. I received notification of this late yesterday evening. I dealt directly with the listing broker on this deal. The money needed to be there by this morning, not tomorrow morning. I could have handled it if I had proper notice. I signed the contract with the broker this past Sunday morning. A personal check was not sufficient. A bank certified check was requested.

Mark, this is what I received via email last night.

When I'd spoken to the broker this morning, she assumed I was in town to meet with her to rectify the situation or to take the monies directly to the title company by this morning. Perhaps it's pregnancy hormones that have me feeling a certain way about this, but I am absolutely floored. I have other offers out there and am working a few leads, so it's not a loss for me.

Forgive me if my demeanor is seemingly "short", but I will not go out of my way to try to "remedy" a situation within an inappropriate time frame.

HUD wanted me to either overnight the funds or drive to the title company to give the remaining deposit by this morning, according to the broker. Since I received late notification and I'm out of town, I couldn't do either option because the title company is Wyncote, PA and I'm out of town. HUD needed it in order to sign their part of the contract this morning. Since it was a short notice, HUD is returning my deposit. I don't think I should fulfill the obligation of driving several hours to the title company when it was a HUD error. When I signed the contract on Sunday, it indicated that I must pay $1,120.000, which I did. HUD should have waited until I returned to PA to get it to the title company. I'm not understanding why I had to lose out due to HUD's oversight.

Hello, everyone. I just found out that HUD hadn't signed my contract due to a deposit error. I submitted a deposit of $1,120.00, as requested by the contract I signed. Apparently, the broker was supposed to get 1% of the contract price from me ($1,200.00). Even though it's such a nominal amount I needed to pay ($80), I felt a certain type of way about it, especially since HUD wanted me to overnight the additional funds or drive the rest of the deposit directly to the title company this morning. I received notification at the last minute - yesterday evening - in addition to being out of town. It wasn't my oversight, therefore, I feel no need to go out of my way to correct HUD's error. My deposit will be returned.

Hello, everyone. I just found out that HUD hadn't signed my contract due to a deposit error. I submitted a deposit of $1,120.00, as requested by the contract I signed. Apparently, the broker was supposed to get 1% of the contract price from me ($1,200.00). Even though it's such a nominal amount I needed to pay ($80), I felt a certain type of way about it, especially since HUD wanted me to overnight the additional funds or drive the rest of the deposit directly to the title company this morning. I received notification at the last minute - yesterday evening - in addition to being out of town. It wasn't my oversight, therefore, I feel no need to go out of my way to correct HUD's error. My deposit will be returned.

Here are some pics of our subject property.

Thank you, Troy! I'm beginning to think right along with you in terms of renovation costs. I have 2 more contractors evaluating the property for me and providing me with estimates. I'll be sure to keep you guys posted!