All Forum Posts by: Jake Kucheck

@Joe Delia not sure what you're referencing there... but I do wish I could make it up to see Will.

Mini-hijack... what are your buyers thoughts on the MI deal?

Seems as though "speak loudly and lie about the size of your stick" has become the new mantra of today's political world. Ironically enough, the same could be said for the Jersey Shore crew...

Colleague request sent.

Would be very interested to know who is writing this kind of debt. I have more than a few properties owned free & clear in Columbus (some in Hilltop, specifically) that I'd love some sub-5% debt on.

Not shady. Just efficient. I'd do the same thing, except I'd probably try to get price reductions on the stale listings.

MInd telling us where the houses are?

BTW the developer from Raymond B.'s story sounds like a genius!

This is the same principal that applies to lenders retaining servicing contracts on mortgages they originate and sell off.

If your model is to create lots of things and sell them, but those things require maintenance, then you might as well be the one to do the maintenance since the buyer of those things is likely not equipped to handle the maintenance (or at least not any better than you).

So, just like lenders will originate, bundle and sell off mortgages while retaining servicing (or at least, used to), turnkey companies will buy, fix up, and sell properties while retaining PM. Doesn't make them unscrupulous, just makes it a good business model.

The same concept applies to the pool installation company, the HVAC installation company, etc...

Escrow companies charge the fees if they think they can get away with it. For you and me, they know better. With our OP... I'm not so sure.

And yes, technically you're right, but it becomes a matter of logistics. The deposit is the buyers, and unless the buyers can specifically get the sellers to pay those fees, they are just going to take them from the deposit. This situation will probably end up in mediation unless one side changes their stance significantly.

I think I'm confused.

The Demand to Close Escrow form (DCE) is used to get a buyer to perform, which it sounds like you want to do. They wouldn't do that unless they thought YOU as a buyer were not going to close, so they could start the paper trail of then sending you a Notice to Perform (NBP), and then a Cancellation of Contract (CC).

Sending you a DCE and a CC simultaneously makes no sense as it sends two different and contradictory messages.

Also, the selling agent is the agent representing you (the buyer), and the listing agent is the agent representing the seller. Did you get those two mixed up or did your agent really send you these forms?

At any rate, once you've figured out what the facts are, and so long as you haven't signed anything, what it really amounts to is this: The seller doesn't want to sell (to you anyway), and they are trying to make it so that you don't get (all of) your deposit back. You won't anyway, because the escrow company is owed some fees, but if you were, in good faith, trying to close the deal, you should get the majority of it back. It just might mean that you have to go through mediation/arbitration and/or small claims court to do so. But the facts as I think I understand them would give you a pretty good case.