All Forum Posts by: Sam Suitsang

@Charlie MacPherson thanks to you and everyone else. We decided not to take any further action on this deal. It was good learning experiences and definitely going to take more preventative actions so this won’t happen again.

Thanks again all, much appreciate everyone’s feedbacks. Cheers investing!!

@Russell Brazil I understand. Thank you.

@Ryan Baker We used our realtor agent as the deal broker to put together PA and paid him a flat fee. It is unfortunate this didn’t work out, we gave them very fair offer. I feel like they used our offer to shop around. Definitely good learning experience for our next deals. Thanks for your input.

Hey Everyone,

Can seller back out after accepting our offer via text message. Next morning, We sent over the PA which they wanted us to mail. We didn’t hear back in 4 days. When we called, seller told us they decided to go with cash offer.

Please advise. Thanks in advance.

@Sam Suitsang ** meet with Real Estate Attorney this week.

@Jeff G. Thank you for your input Jeff. 🙏🏻 I am doing Contract of Deed ( miss typed COD) this. I plan to meet with a Real Estate this week.

@Ken Bradley Hi Ken, thanks for your post and advises in the forum. I have few questions. I am looking to buy my first commercial property. Have already started investing in the Residential properties and currently have 5 doors. The commercial property has a two unit, one side is used as Hair Salon and other as store right now. But prior of 1980, it was a gas station. I am doing COD on this transaction. Per doc provided by the Seller ( passed from previous owner), the underground storage tanks (UST) were removed in 1982. They also had a soil test done in 1991 and the result came in fine. I called the City and State Pollution Agency (EPA) to see if they have any records of the tanks being removed. State said they only started keeping track of UST after1986 and don’t have any record. The city also don’t have any info about tanks being installed or removed. After reading the discussion in this forum, it appears Phase 1 only consist of mostly paper study of the property by looking at history which I feel I have already done most of the work. Not sure if it make sense to do the Phase 1, any thought on doing Phase 1 or 2 would be appreciated. Lastly, few people recommended using Real Estate Attorney for this transaction. This will be also first time using RE Attorney. Any advise on how to approach this and what questions to ask and put down in the contract of deed regarding Phase 1 or 2 and anything in general. Thanks Ken and Everyone in advance your help and advise. Cheers to Bigger Pockets.