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Updated almost 6 years ago,
Closed flip and seller still has not handed keys over ? HELP !!!
Hello BP !!! this might be a bit long but please read along and help out a fellow newbie investor. I am in the process of obtaining my first flip deal. The seller's realtor has been in the business for 20+ years, therefore he has taken advantage of the situation to screw us in a few things along the way like making us lose 10k over a discrepancy on the contract after we had verbally agreed on numbers in the beginning. This is clearly due to my partner who's also a realtor and i being fairly new to the business, rookie mistakes. Well we closed on the property yesterday and they still have not vacated the property after they said they would be out by noon today after contributing $100. We showed up by noon and they were still not done, they asked us to give them until the end of the day. (Keep in mind we are giving them a chance and helping them when they never contributed in any aspect of the deal and screwed us over from every angle you could think of, but that's a story for another day). After calling them all afternoon and not picking up the phone, we showed up at the property and no one would open the door. There was trash outside and clearly still furniture inside as we peeked through the window. We waited one hour and tried reaching them and nothing. We then sent him the following email,
"Good evening to all! At this point I'm am beyond livid and very disappointed, as buyers we have complied with the terms of the contract, we have been very patient and respectful with the seller but at this point we are out of our money and no house, seller has breached the contract and continues to do so. We are at the property now and clearly there are people inside and won't open the door, this is another act of disrespect and you need to comply with your end of the bargain. We will give you until tomorrow noon time to vacate the property otherwise you leave us no other choice than to call the police. As soon as the house is vacant and trash is removed from the premise we will instruct the title company that property is vacant and they will wire sellers proceeds tomorrow otherwise seller will not get his money."
He then called us and said they would touch basis with us tomorrow by noon and hopefully vacate for another $100. Then he went ahead and texted us the following, his own words, and i quote,
"Oh and btw the police will tell you to file an eviction with the court as they can't do anything without it. Another lesson in real estate for you."
If that cannot express the type of person i am dealing with i do not know what will. My partner and i are 21 and 22 year olds trying to move ahead in life and this guys just laughs at us. By the way, seller has weed inside the property which we saw with our own eyes and it is illegal in Florida. I have nothing against weed but anything that gives us leverage we are willing to take.
If you read to this point thank you so much for your time. Question is, what can we do at this point ? what can i use as leverage when i show up tomorrow to make them leave ? is there any way we can back out of the contract after these incidents ? also what can we do to prevent this next time, our title company closer said next time we should do an escrow agreement, is there anything else i can do to avoid this in the future ?
Again thank you all for reading and for your very much appreciated help !!!