All Forum Posts by: Tiffany Plovie

@Curtis Bidwell 

@Viktor Stakhov 

@Justin Case 

@Josh Reynolds 

I will add all of you to the guest list! I cannot wait to finally put faces to names!

@Tyler Blackwell Isn't life random! I am glad you ran into Brandon, and that you will make it to the meet-up!

@Gerald K. I am so happy to hear that you will try to make it out! I know that it is quite a drive from South Everett. However, I am just excited to here that you are working on something beneficial to your business! After all, that is what BP is all about!

We are going to have a blast!

Hi Lori,

   How did you meet this man? Is he somebody reputable? I would be wary of someone who engages in business activities, especially a contract, without including my name when we have a partnership in place.

Proceed with caution.

@Logan Larochelle 

 Have you thought about finding any smaller, more local banks that will do portfolio lending? As their lending is in-house, sometimes it is not quite as excruciating as dealing with one of the larger banks. Shop around and see what banks are the most willing to work with your exact circumstances. Compare rates and fees.

Ultimately, you have to do what is best for you!

@Jim Lin Welcome to BP!

   It sounds like you already know your way around here!

 I would suggest setting up key-word alerts for 'Texas', 'Dallas', 'tenant', ect. 

This is such a wonderful community. Please do not hesitate to ask for help or post the information and knowledge that you have gained, along with any insights you may have.

Hope to 'see' you around!

Tiffany

@Gerald Thompson 

I would be direct and straight-forward with your agent. A lease-option, is just that... A lease first, with an option to buy at a later date.

    It is not a contract constituting the actual transmission of ownership for the exchange of funds (hence, a sale). However, if the tenant were to go through with the sale, the option-to-purchase clause would then be executed. As the listing agent had the listing agreement at the time the contract was initiated, he or she would then be owed a commission.

   However, it could be argued in a court of law (and by the agent's broker) that the contract itself contained the intent of a sale. In my interactions with the court, (keeping in mind that I live in a different state) the intent of a contract can sometimes supersede the actual contract itself.

  Play it safe, talk to your agent and his/her broker, and take it from there.

@Jared Butterfield  I am so glad you can make it! It will be nice to see you again!

@Jay Marks 

   I am seeing very little that you can do. How long is her lease?

FYI, I think that trying to intimidate this man would be the wrong course of action. In most situations like this, the wife already knows, or at the very least has her suspicions. This man is obviously wealthy, and his wife is probably staying with him out of comfort, instead of love. Any attempts at intimidation would most likely back-fire and end up with you in court under charges of harassment.

Perhaps the best course of action is to focus on the fact that soon the people you love will be residing there instead of her!

I am sorry you inherited this headache. 

@Jay Marks 

Examine owner-occupancy laws in your state.

   In Washington State, any lease can be rightfully terminated if the owner ( and his or her immediate family) decides to take possession of the property and live in it. I believe that 30-days notice is that is required.

Here is the code and guidelines for eviction under owner-occupancy laws for Washington State:

The owner wishes to occupy the premises personally,

or the owner’s immediate family will occupy

the unit, and no substantially equivalent unit is

vacant and available in the same building. Immediate

family includes the owner’s spouse or

the owner’s domestic partner, and the parents,

grandparents, children, brothers and sisters of

the owner, the owner’s spouse or the owner’s domestic

partner. If the owner gives this reason to

terminate a tenancy and then fails to carry it out,

he or she may be subject to a civil penalty of up

to $2,500. A tenant whose tenancy is terminated

for this reason has a private right of action if he

or she feels an owner has failed to comply with

these requirements.

   Most states have an owner-occupancy clause with the Landlord-Tenant Laws. Inquire as to Florida's laws, and have an attorney handle all contact with the tenant.

This is business and business only. Don't take it personally.

Amazing!! Thanks BP for always providing information and the encouragement to grow, learn and expand our businesses and mindsets alike!

I should also include that although I am an agent, I also work with investors as well. My website will have dedicated section devoted to that field as well.