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Updated over 8 years ago on . Most recent reply

User Stats

28
Posts
6
Votes
Richard Francois
  • Newark, NJ
6
Votes |
28
Posts

Buyers are liars and also lawyers

Richard Francois
  • Newark, NJ
Posted
Ok so heres the story.. Ive recently found a distressed property. Owner is an elderly women who is sick and lives with daughter. Ive never seen the owner but her daughter is the legal guardian so we agreed on a well below market price on her mothers vacant home. She signed the purchase contract and I assigned it to a local rehabber. I didnt have a investor friendly attorney so my assignee referred me to HIS attorney. Attorney tells me my 2,000 emd was received. Fast foward my contract ends in 4 days and I cant get my attorney on the phone smh. End buyer is mentioning his lenders attorney in the mix for the first time and i dont know what to do. It seems like both my attorney and end buyer is not moving with a sense of urgency. I still dont have a closing date yet. I want the seller to have her money asap i thought it was going to be simple but i guess these are the games people play with wholesalers. The next deal i find im buying it myself.

Most Popular Reply

User Stats

41
Posts
6
Votes
Charles Smith
  • Real Estate Consultant
  • Wilmington, NC
6
Votes |
41
Posts
Charles Smith
  • Real Estate Consultant
  • Wilmington, NC
Replied

Ok just let the seller know that you need more time maybe the lawyer is moving slow on the title search, maybe it's a survey issue idk but you need time. Hope that helps

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