The reason I’m asking is because I signed a contract to purchase a property on 12/5 in Maryland which is a great deal and I plan to wholesale. The seller decided not to let me put a lockbox on the property after we signed the contract.( I know, rookie mistake and I should put a lock box clause in contract)I was ready to move forward with this deal and had potential buyers lined up to walk through the house, they all dried up because they can’t wait around forever for me to get access to the property and I don’t blame them. The seller called me the next day and said she would let me put a lockbox on the house once we got a closing date. It’s been 15 days, I have no access to the house and I can’t get in touch w/the seller. This is wasting my time. I have other houses that I walked through this week that I want to lock up and I don’t want to continue to waste my time with this property that I have no access to, the owner as well. I have a feeling the owner may have backed out. I don’t want to waste more time here with the seller, I want to move on to pursue other deals that I can move on fast. Oh, the reason I didn’t submit a deposit to the title company was because I wanted to get a new lockbox clause added since she agreed to let me put it on the house, then I was gonna submit the deposit. Please give me your opinions. Thanks!
My contracts and I believe most contracts say ________$/or other valuable considerations.
My other valuable consideration is signing the contract to purchase the house.
I never give any cash or deposit when locking up a contract
Walk away this guy wants a retail buyer. Buy it when the bank takes it back. This is a complete time waster there are other motivated sellers who want to sell.
Brian, what ended up happening here?