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Updated almost 8 years ago on . Most recent reply

User Stats

14
Posts
2
Votes
Shaquan Whitaker
  • Saint Louis, MO
2
Votes |
14
Posts

Seller doesn't want to give me a copy of the keys - what do I do?

Shaquan Whitaker
  • Saint Louis, MO
Posted

Hello BiggerPockets,

I am a wholesaler. I recently got three properties under contract earlier this week. The seller lives about an hour and a half away from his properties and we met at a local coffee shop to go over the contract and sign. I made a couple of mistakes during this process as it was my first time getting anything under contract.

1) I never asked the seller to bring copies of the keys so I could have access to the properties.

2) I did a bad job at explaining that I would be needing access to the property before closing in order to allow for inspecting and my end buyers to come in and look at the properties themselves.

I've spoken with the seller since, 90 year old gentlemen, and he doesn't want to give me access to the properties until we have exchanged title at the title company. I've told him that there will be a lockbox on the properties which he will have access too. Didn't budge. 

When I first took a look at the properties, it was just the estimate repairs so I didn't take any pictures aside from a video walkthrough of 2 out of the 3 properties. I really put myself in a tough spot here and I don't want to cancel the contracts, but I am not sure what other options I may have. Any smart buyer is going to want to go inside and take a look at the property before they decide to purchase it. 

Any advice? 

Most Popular Reply

Account Closed
  • Johnson City, TN
705
Votes |
586
Posts
Account Closed
  • Johnson City, TN
Replied

you also need to be very careful in your dealings with an elderly person. You can unwittingly open yourself up to an elder abuse claim.

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