All Forum Posts by: Ron H.

@carey lynch

you are looking for ways to get out of closing.  You stated that contract had option for assignment or purchase.  This gives you the option of assigning but does not give you the option of not closing if you can't find an assignment.  I deal with  and purchase from wholesalers and agents. I have seen people deceived/hurt by dishonest wholesalers.  Not closing on a contract without the sellers knowledge that you didn't intend to purchase falls into that category 

You signed a contract to purchase a house that you did not intent to buy or possibly do not have the means to purchase.  Whether you find an assignment buyer is not relevant as to whether you move forward with the purchase.  Unless the seller was fully informed that you did not intend to purchase the property but was looking only to market it, you should close.  Anything else is deceiving the seller and giving wholesalers a bad name.

Newer washers only use a few gallows per load.  It seems that something else must be in play to have even a small increase in the bill.

Sounds like you might not be aware of cultures other than the US.  In much ( most?) of the world everything is bartered.  I have been told before that Americans are dumb because they don't negotiate.  I myself have found that some things that most people would never considering asking for a lower price is negotiable.  Never hurts to ask.  Short term housing is definitely negotiable.  You only have to say no if you are not interested.  No reason to take offense, although his bartering might have been more elegant in his native language. If there is a chance the unit might go vacant it might be worthwhile considering a lower price. 

Note.  I once started to walk away from a small motel that wanted $89 a night (many years ago).  I managed to get rate down to $29.  This was a property on lake Erie.

Some houses are not mortgageable at time of purchase due to repairs needed so cash required for closing.  Also some sellers want very fast close so mortgage not possible.  These also always need some form of repair to make it appraise well.  Delayed financing allows me to get most of my purchase money back since, with a good appraisal, I can get a mortgage for 100% of purchase price

I do a quick filter change and condensation line cleanout every 3 months, main purpose to get in the house to do a general look around for obvious issues like animal and smoke odors.  I also do a full mechanical inspection once or twice a year entering every room looking for ceiling stains and leaking water on pipe drains.  You quickly learn which tenants to be concerned about.

Let's see.  You are buying a contract, not a house,  but never once look at what you are actually buying.  What could possibly go wrong !!!!

why would anyone ever buy a contract assignment without even looking at it! The saying " a fool and his money are soon parted" comes to mind.

Any wholesaler that refuses to let you look at the contract you are actually buying should be avoided.  No deal is worth that risk.

And yes I have purchased from both wholesalers and agents.

Wholesalers that want me to tell seller that I am looking at the house to provide a rehab estimate, trying to deceive seller about assignment. Wholesalers trying to pretend that they are all knowing about re contracts and processes when most are completely clueless.

that and the endless robocalls, texts and letters saying we will buy your house, at about 50% value of course.

RE Attorney is your best option for your 1st property.  Although not needed you could probably find an agent to walk you through the transaction for a fixed fee of a few hundred or an hourly rate.  No reason for anyone to pay a re commission just for consulting on how to close.  They did not make the deal happen.

When I did student rentals by the room, students furnished the bedrooms. I wasn't planning on it but I found a lot of nice used leather furniture online and furnished the common areas and added w/d at very  low cost.  I furnished typical major kitchen appliances and microwave.  Anything else they wanted they were responsible for.  I think this limited damage from people hoofing sofas regularly through the doors