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Tractor Talk Discussion Forum

Re: OT- Boy am I ticked!

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MarkB_MI

05-01-2014 11:31:22
198.208.159.20



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The lesson here is to ALWAYS get a signed sales contract when buying or selling land. If you're buying, pay some earnest money, even if it's only 100 bucks. Likewise, insist on earnest money from the buyer when selling.

Don't be mad. Just learn from your mistakes.

You might be able to salvage the deal, depending on how desperate the guy really is. Making him an offer IN WRITING and enclose an earnest money deposit of around 1 percent of your purchase price. He can accept your offer, reject it, or make a counter-offer. That's how it works in real estate. Stop goofing around with verbal "contracts" and get the deal done.

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Formerly PaMike

05-01-2014 11:37:28
24.229.80.165



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 Re: OT- Boy am I ticked! in reply to MarkB_MI, 05-01-2014 11:31:22  
We never really had a "deal" its just irritating to have someone keep jumping around and changing their mind. I would have made a deal a year ago, but he kept disappearing when pressed....



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Rich_WI

05-01-2014 17:46:48
50.50.82.205



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 Re: OT- Boy am I ticked! in reply to Formerly PaMike, 05-01-2014 11:37:28  
Quoting Removed, click Modern View to see

Thats because he dont want to sell, he is thinking he has to sell but he dont want to. All distressed sellers are like this, flip flopping around and trying to bump the price as much as they can. You said its appraised at 45K less than they paid, make no mistake, not only do they want that 45K, they want more. They want more because people became conditioned to think no matter what the purchace price was, they get more when they sell. The problem is, Bummer got elected. Real estate has taken a schlacking since and people are still shell shocked.
My prediction is, untill this guy wants to sell or is forced to sell, he will keep moving the goal posts. Wait till he actually loses that job, then he will be motivated to sell. If it makes you feel any better, thats when the tables can turn and you can put the screws to him...

Its also worth noting, he dont sound poor since he is about 45K underwater, that means the house is many times that. Whats a killer is somebody in a 50K house playing the same game. It goes round and round and it usually ends up on the courthouse steps. Almost every time its a waste of time, better off just waiting to deal with the bank after the forclosure. Poor people make poor decisions and since this is a higher end house, maybe with some luck it will work out better for you.

Good luck.

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Formerly PaMike

05-01-2014 18:51:56
24.102.236.75



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 Re: OT- Boy am I ticked! in reply to Rich_WI, 05-01-2014 17:46:48  
You pretty much nailed it. The interesting thing is the guy is in a financial position at a cattle brokers. He thinks the broker is gunna go belly up. He was at a feedmill before that that shut down cause they lost their shirt on pig contracts. See a trend here...Guy makes bad decisions for himself and others.



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MarkB_MI

05-01-2014 15:22:49
75.219.143.3



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 Re: OT- Boy am I ticked! in reply to Formerly PaMike, 05-01-2014 11:37:28  
Do you want the place or not? If you want it, get to work. Write up an offer to purchase and hand it to him. Put an expiration date on the offer. If you keep lollygagging, the place will probably go into foreclosure and it will be tied up for months or years.

If you're really serious but don't know how to go about buying the place, get a real estate agent to help you for a flat fee or reduced commission.

A couple of things to keep in mind:
The place is probably under water; if so the bank will have to approve a short sale which is not real likely with prices going up.
The guy and his wife may have quite different opinions about what they want to do with the house.

Good luck.

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Ray

05-01-2014 12:32:33
70.61.255.170



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 Re: OT- Boy am I ticked! in reply to Formerly PaMike, 05-01-2014 11:37:28  
It's the same thing trying to buy a house,or a tractor,car etc.It's like trying to hit a moving target.They want to raise the price if they think your interested.I looked at an antique car,the price went up 2000 overnight.A tractor I saw in the photo adds went up 500 when I called.He said it was a misprint.(He put the add in and set the price)



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