Hello all, I’ve read these threads a thousand time and still can’t found anything I’m looking for to tell a potential homeowner to say to him. He’s interested in L/0 and told me to give him a phone call to discuss possibility. I e-mailed him information of all the advantages of going a deal like L/O, he’s in the military and he has to have something done with this property by Jan. 2007. The problem is he’s under contract w/ realtor. How should I proceed, I found this property on FSBO’s website, so I never expected for him to have an agent. Any insight would be greatly appreciated.
I’d recommend you be [/u]extreamly careful[u] in regard to dealing with the military in that in a way you’re not only dealing with the perspective client, but his commanding officer, JAG, and much more and if you screw up in the slightest and or feels he was taken advantage of 2 years from now, you’ve got BIG PROBLEMS. So, my advice is be very careful and get a lawyer.
In regard to the second proposition, I don’t know what to say but it would have to be a very good deal in order for me to get involved.
Regards,
Juan2know
juan2know…
I don’t know where you got your information from, but it is mostly false – unless something has changed in the five years since I retired and was a CO. A military member’s CO has very little to do with a service member’s (SM) real estate dealings except that he does have say in making sure the SM’s bills get paid…
It’s against regulations (and probably Federal statutes and the USC) for a JAG lawyer to represent a SM in civilian procededings – all they can do is advise…
Keith
kd what do you do in the realtor situation? when i come across this I tell them to ask the realtor if they can get out from the contract. Right or Wrong???
Well my point is that this would be my first pitch to get a property using a lease w/ option. I’ll make mistakes, but that’s where the learning comes from. The fact that he has a realtor and did not mention it to me in the first communication to me is confusing. Now, if I continue to pitch to him the advantages of “NO COMMISSIONS & NO FEES” and he cancels the contract with the realtor. I get all of the relevant info about the property, go the visit the property and he enters into a contract with me to lease and put a tenant / buyer, in property. Is there anything wrong legally / ethically since the realtor is no longer in the picture??