Would You Stay In This Deal?
Would you stay in a deal with someone who has committed fraud?
The short story:
I listed a house on this site as a rehabber deal.
I received good exposure and response from my advertisement.
I signed a contract to sale the house to an investment company contingent on an inspection (they made the offer on the house site un seen).
They ask me to put a lock box on it so that they can get the inspection done without making appointments with me. I asked them to let me know when someone would be at the house, so that if I am at the house, I won’t be surprised and I can go through afterwards and check on lights and heat.
So Thursday I stop by the house to check on it. What do I see?
1. A big wooden for sale sign from one of the national/regional realtors. (I call and the house is listed for about 20K more then my contract price.)
2. Some weird man is in the house. (You know the type that has a “we buy houses” sign on the side of his station wagon). I say hello. He says hello. Bolts out of the house as fast as he can without giving me his name.
I call my contact guy and ask him about the sign and the man in the house. He denies knowing anything about the man in the house or why there is a sign in the front yard. But that he did call a friend of his to get the property listed in the MLS system. He then proceeded to ask me if I minded the sign or MLS listing. I was too shocked to answer. So he said that he would throw a few more dollars my way and lets just get this thing sold. I hang up to think about it.
I go back to the house and change the lock box combination while I think about it.
The listing agent did call me Friday because the lock box was not working. She said she does have a signed listing contract with my contact.
My next step is to talk to my lawyer.
Would you continue with this deal or run?
gal41,
Glad to meet you.
Since you have already signed a contract with these people, which may be binding on both parties, how long did you give them to do this inspection before your contract with them expired?
Normally when there are contingencies in a contract there is also a date by which they must be completed before the contract becomes null and void.
John $Cash$ Locke
[addsig]
They have 20 days to report back in writing with inspection problems and 45 days to close.
If you go to most of the meetings i am the young guy who spoke with my parnter about a short-sale we did on a murder house in Norwich