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Author Topic: Sellers From Dark Side  (Read 13569 times)

Offline Randoskie

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Sellers From Dark Side
« on: April 24, 2017, 08:10:43 pm »
I got a deal going with a huge old farm house. Sellers are divorcing, The husband is an alkie, the wife is kind of a loud mouthed blankity blank and hasn't been in a good mood since she got her Walmart card back in 03.
The house has been tore up from their battles, holes in the wall, they wont pay the electric bill and are running off of a generator.
I Got the property on contract for about 50% of ARV.
But trying to deal with these 2 sellers is an exercise in tortuous excruciating pain.
Both were insisting on a $10,000 up front payment which delayed the entire process.
Finally they realized that was not happening and signed. I know I can sell this beast for a good chunk of change.
But, will it go thru? That is the question. Now to get my buyers in to view the property.
Slap me upside the head with some drama.
I suppose it will all be worth it when that big check comes.
Let's make some Money.....
Rando

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #1 on: April 24, 2017, 10:32:09 pm »
I sent it out to my buyers.

I got this house on contract today, I think it's a good workable deal w some healthy profit potential.
It's a big ass 2,240 2 story 4/2 on an a 1/2 acre. With a shop. Address is 9586 Home Ave Hanford Ca.
The sellers are divorcing, they hate each other and they discounted the crap out of it cuz they just want out.
You can have it for 125K The ARV is 215-230K
It just needs some minor fixins maybe 30-35K
Any interest?.

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #2 on: April 24, 2017, 10:58:02 pm »
I just sold it for my asking price of 125K   Splitting a $17,500 assignment with my wholesaling buddy Bob who found it, all I did was send out some emails to my buyers. It's Insane...  Somebody pinch me.
Almost $9,000 buks for what?
Maybe I shud curb my enthusiasm for the unexpected.
But were starting escrow tomorrow, looks like it cud happen.

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #3 on: April 25, 2017, 01:00:23 am »
It just gets crazier, one of my other buyers said he will take it, I told him sorry I just sold it for , he then emails me back and asked if I will take 130K, I replied, it's tempting, can you do 135?
I waited & I thought I lost him, but 20 minutes later he replies, "Damn OK".
He's a solid buyer that has purchase a half dozen other properties from me.
Let's make some Frikin Money.....
Rando



Offline Diqueze1

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Re: Sellers From Dark Side
« Reply #4 on: April 25, 2017, 11:50:00 am »
Rando,

Did you sign a contract with the first buyer for $125? Or, are you fine because escrow had not started yet?

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #5 on: April 25, 2017, 09:14:23 pm »
The first buyer that wanted it for 125K had a verbal agreement with me, but before I cud send him the assignment to sign, is when I got the higher offer, or I wud have been stuck with the lower sale price. I gave the first buyer a chance to come up to match his price but he wudnt.

We got the house on contract for $107,500 , sold it for $135,000
The largest finders fee this buyer has paid me b4 was 14K
This one is paying out twice as much, so I was worried he wud have an inverted nut. Especially because even though he is a solid buyer he was always negotiating me down, he lost several good deals that way.  But he took that assignment of contract and had it signed and back to me in an hour.
We started escrow already.
« Last Edit: May 20, 2017, 10:41:53 am by Randoskie »

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #6 on: April 29, 2017, 11:43:50 am »
My wholesaling buddy partner Bob that found this junker told me the sellers wanted $5,000 each b4 they would commit to selling to us, well that delayed things, because we sure as hell wasn't going to put our money at risk. They did eventually sign with no provision for upfront money.
So a few days ago the buyer emailed asking for the sellers contact info for Title. Then the following day he calls to say the seller told the Title girl that she wanted $10,000 up front.
I told him, yea she tried that with us, but we were not going for it. Just tell her she has to wait a few weeks for closing.
Then he asked if they needed 30 days to vacate. I told him yea. He says he's going to work it with Title that they hold back enuf to make it hurt if they don't get out in time.
I'm thinking the best way to get this deal across the finish line is to NOT give them money upfront. Keep that carrot on the stick.
I've had a few deals go belly up recently so I'm optimistically cautious. Big words for a wholesaler.
Let's make some Money...
Rando


Offline Randoskie

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Re: Sellers From Dark Side
« Reply #7 on: May 02, 2017, 09:52:26 pm »
This deal is progressing and it just might come together, that is if the planets align and if there is a full eclipse.
Bob called and said the lady seller don't have an ID or car, Bob has volunteered to take her to the frikin DMV and he said he's going to have to take her to the signing. The husband has a car and works but they cant be in the same car, Bob may have to keep them separated at the Escrow company.
One of my buyers said he was set to buy this place but the meth head woman told him she got a better offer, ours, haha.
So picture this, Alcoholic husband, tweaker wife, living in this poo hole with weeds up to here and running off of a generator.
I expect the worse, but hoping for the best.

Offline WolfHouse

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Re: Sellers From Dark Side
« Reply #8 on: May 03, 2017, 07:42:10 am »
Drama from motivated sellers?

That sounds like a new one.  :argue

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #9 on: May 04, 2017, 01:08:55 pm »
The Title company called and wants to schedule the sellers to come in to sign, now that's a good sign.
If this deal happens I'm going to run thru the woods naked screaming like a banshee while holding 2 angry bull frogs during the next full moon.

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #10 on: May 05, 2017, 11:56:10 am »
Yesterday my partner Bob emails to say he was having trouble getting ahold of these psychotic sellers from hell. Now he says he just talked to the wife and she informed him if they didn't get any money upfront b4 closing they were backing out of the deal. Bob said he offered to take her grocery shopping cuz she told him she didn't even have food. Their demands went from $10,000 to $5,000 to $3,000 and now it's at $2,000 I suggested we go file a memorandum at the County Recorders office to prevent them from selling to the next ignorant investor that's dumb enuf to get involved in this shipstorm.

Bob suggested we both chip in $1,000 each to keep this deal on track. I'm thinking, wait a minute, if they got a grand each they will most likely be on a 1 or 2 week drug and alcohol induced binge and never get in to Title to sign.

Bob seems a little frantic, this 14 grand each is the biggest deal he's ever had.

I told Bob from day one not to get his hopes up on this deal cuz of the sellers situation and mindset because it cud blow up any minute, he said, "I Know"

I'm ready to let this deal go, but Then I thought, I wonder how bad our buyer wants this? 

I forwarded Bob and my conversation to him. I just said, some crazy ass people.

This morning he emails me back that he and Title were going to figure something out. He will let me know in a day or two.

And the drama continues.

Offline javipa

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Re: Sellers From Dark Side
« Reply #11 on: May 05, 2017, 01:53:47 pm »
I think you guys are being played like a fiddle!!!!   :bobble

Addicts are crazy manipulative this way.

If you don't pay the seller a dime, who else is gonna give them a dime ...and do it before a closing occurs?

I mean, you have a contract, you're in escrow, the closer is requesting a closing, and now the seller is threatening 'not' to close until she gets money before closing?  What alternatives does she have?  She only screws herself, if she tries to screw you.  If she's mad at waiting for money now, imagine waiting until she can go to court and try to get rid of you.

File the memorandum with your legit purchase agreement.  Do NOT give her any money.  Wait for them to find a car to steal so they can come to the closing and get their money.  Otherwise, you can just wait them out.

The fact is, legally speaking, she/he must sell to you.  They're legally obligated with that purchase agreement in force.  She can't back out.  That's your 'trump card.'  BTW, a purchase agreement becomes an evergreen option/lien in the event  a seller won't cooperate in a closing.  It's a specific performance provision of the law. 

 :beer

 

"149 Ways (Plus One) To Find Motivated Sellers..!"  -Free Report-
>>> Click: http://sub2marketdomination.com/how-to-find-motivated-sellers-2/

Offline javipa

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Re: Sellers From Dark Side
« Reply #12 on: May 05, 2017, 04:45:05 pm »
There's an axiom in real estate that goes, "A buyer doesn't have to buy, but a seller has to sell." 

We had a buyer back out on our deal, after all the weasel clauses had expired.  The buyer demanded his earnest deposit back, and we refused, because we acted in good faith, and expected the buyer to abide by the contract in good faith. 

The buyer sued us for the deposits' return, and we ended up with a judgment on our credit.  The terms of the contract were irrelevant, according to the judge, who nullified the agreement. 

We learned that a contract is only binding on the seller, but not on the buyer.
"149 Ways (Plus One) To Find Motivated Sellers..!"  -Free Report-
>>> Click: http://sub2marketdomination.com/how-to-find-motivated-sellers-2/

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #13 on: May 06, 2017, 02:13:26 pm »
I think you guys are being played like a fiddle!!!!   
Addicts are crazy manipulative this way.
If you don't pay the seller a dime, who else is gonna give them a dime ...and do it before a closing occurs?

Haha, I know it, the problem is my partner is acting desperate. He told me he was pleading with them.
I gagged & told him to never plead unless you want to admit you don't have testies..
I told him the buyer was going to try to work something out and he said great, I'll call sellers and let them know.
I told him, hell no, do not call them, let them sweat for awhile.

It seems the buyer wants this property bad enuf to risk his money, and with title's help they will probably do some additional paperwork & record a lien.







Offline Randoskie

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Re: Sellers From Dark Side
« Reply #14 on: May 09, 2017, 09:09:48 pm »
My strategy seems to be working. I had a feeling the buyer really wanted this property.
Buyer called twice today and is willing to cut these sellers 5K checks each, he said he will meet them with a Notary, they will sign paperwork to record a lien that is payable in a few months and if they don't get into Title to sign and close, they can lose it all in a foreclosure.
This deal might still happen. I'm cautiously optimistic still.


 

 




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