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All Forum Posts by: Justin B.

Justin B. has started 19 posts and replied 651 times.

Post: Gaithersburg, MD Meeting?

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441

We are now utilizing Meetup.com for our meeting.  Please visit the meetup page to join the group.  Once you join, you will see all the information and communication needed to participate.

http://www.meetup.com/Gaithersburg-BP-Real-Estate-Meetup

Post: Gaithersburg, MD Meeting?

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441

Excellent.  IM me your e-mail and I'll get you added to the list.

Post: Gaithersburg, MD Meeting?

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441

@Musu Stewart I didn't receive a PM.  I'll get you added as soon as I get it.

Post: Gaithersburg, MD Meeting?

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441

@Malik Awan I haven't received a message yet but shoot me your e-mail and I'll get you added to the list.

Post: Here's what NOT to do when submitting an offer....

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441
Originally posted by @Stone Teran:
Originally posted by @Justin B.:
Originally posted by @Ned Carey:

Did they tell your agent that it was signed and accepted? Then you have a binding contract. 

Ned,

I just have to point out this is not true in case based on this he tries to take legal action.  Unless he or his representing agent actually received the signed contract back, nothing is binding.  You can argue that if you were "told" it was signed and accepted it's binding, but it all goes back to what will be upheld in court.  If he sues and goes before a judge and tells the judge he and his agent were "told" it was signed and accepted but you can't produce a document, it will get thrown out without hesitation.

Even with the agent as a witness (the agent the seller told it was signed and accepted), without an actual document, no judge would rule in favor.  The judge has no proof that anything is truth or a lie.  It's all hearsay.

 I agree it wouldn't hold up in court but for a different reason.  Oral contracts are valid in almost all forms of contract law so it wouldn't just be thrown out point blank as hearsay.  BUT in real estate, most contracts are only binding on paper.

 In a general sense, yes they can be, but this is a real estate forum and this thread is about a real estate sale.  Oral Contracts don't really work in real estate transactions.  For the purpose of not throwing general statements out myself, maybe saying "throwing it out as hearsay" was a bit too general, but if you go to a judge with a real estate dispute and you can't produce a written contract, you have a VERY small chance of success.  Now, if you have several witnesses who the court knows are trust worthy, you might have a chance, but that's not the case here.  This is a real good lesson for folks here.  NEVER do a real estate deal with an oral contract.  It's just not worth it.

Here's a quick link but you can find the same by googling.  Real estate isn't the only type of situation where oral contracts don't really apply.

http://blogs.findlaw.com/law_and_life/2011/10/are-oral-contracts-enforceable.html

Post: Here's what NOT to do when submitting an offer....

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441

Marc,

Many times things have not gone my way, but in almost every case, a bigger and better door was opened.  When I first moved up to Maryland straight out of college from 1,000 miles away for a job, it was scary enough.  6 months after being hired, my company was bought and 95% of the employees (including myself) were laid off.  I happened to find an even better job and am WAY better off for it.  It was a scary time for sure, but even though at the time I thought it sucked, it was the best thing that could have happened to me.

I would not be surprised if you found a much better deal and were saying to yourself, thank goodness that last deal wasn't accepted. :)

Post: Here's what NOT to do when submitting an offer....

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441
Originally posted by @Ned Carey:

Did they tell your agent that it was signed and accepted? Then you have a binding contract. 

Ned,

I just have to point out this is not true in case based on this he tries to take legal action.  Unless he or his representing agent actually received the signed contract back, nothing is binding.  You can argue that if you were "told" it was signed and accepted it's binding, but it all goes back to what will be upheld in court.  If he sues and goes before a judge and tells the judge he and his agent were "told" it was signed and accepted but you can't produce a document, it will get thrown out without hesitation.

Even with the agent as a witness (the agent the seller told it was signed and accepted), without an actual document, no judge would rule in favor.  The judge has no proof that anything is truth or a lie.  It's all hearsay.

Post: Gaithersburg, MD Meeting?

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441

First Tuesday of every month.  I'll respond to your PM.

Post: Ever had a tenant you've never met?

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441

I personally have never met a single tenant and I've had 15-20 of them.  I use PM's for my properties so I'm assuming they've met them :)

Post: Cracked granite countertop in lease period. Normal wear and tear?

Justin B.Posted
  • Investor
  • Gaithersburg, MD
  • Posts 659
  • Votes 441

It all depends on the crack.  If it's shattered or a corner is complete broken off, the tenant did it and I'd charge them for it.

If it's a crack that seems to follow a line or be in a spot where there was bad support (installation problem) a decently heavy item could have done it (which wouldn't be the tenants fault).

Like someone else said, post a picture here and you will probably have plenty of folks who can tell you if it's most likely an installation type issue that caused it or if the tenant definitely did something.