All Forum Posts by: Ann Anderson

I have put myself in a bad situation. I will need your advise, especially from the legal side. I will talk to real estate lawyers as well but that will be Monday.

I am under contract with one house in Georgia. Here is my stupid part. I waived the due diligent and the inspection as the seller provided an inspection report to me. I still have the appraisal contingency. The reason why I did that is because all the photos and videos the seller agent provided looked so awesome and I have bought many sight unseen and have not had problems before. Considering the hot market, I don't really believe I have the chance to go there, check it and offer. So I offered like that and didn't think there will be big issue as usual.

The seller accepted the offer and the house went to binding immediately since there is no due diligent or inspection.

The binding is a few days ago, say x date. Earnest money should be paid by me within x plus 3 days. During this time, I visted the house physically and decided that I am not going to pursue the house due to various reasons after seeing the house in person. And that is not something seller can do to change, meaning even if the seller is willing to lower on the price, I still don't want the house any more. hence, I didn't pay the earnest money within x plus 3 days. Then I stupidlly assumed that the contract will be invalid as I had not paid the earnest money.

A couple of days later, the seller agent sent messages to me and told me that I could not backed out after binding. The only way is the appraisal not to the purchase price. Now I realized how seriously this could turn to. As my understanding for that market, the appraisal could be up to the purchase price and of course it cold be below. Currently Zillow's estimate is high than the purchase price. However I understand that It is totally unknown at this moment until the actual appraisal report. However I definitely don't want to risk for that since I 100% don't want to purchase the house now.

I am not sure what options have left for me now. I could just pay the appraisal to see now much the house could reach, maybe? I try to avoid going to appraisal step as it is a big rick. If it appraised higher, I will have to perform the contract which is not what I want.

I am not sure about the seller's attitude now. Seems like they have not canceled the contract yet. They have 7 days to cancel the contract if earnest money is not received per the contract. Should I offer them the earnest money and request them to cancel the contract? I have no problem paying the earnest money but my worry is that, if I offered the earnest money, they may continue on the contract.

Or I could just not applying for the loan and delay the whole process, using that to let seller cancel? I know the seller is not living on the house and they need to sell quickly. I don't think they will have problem selling to someone else for the same price or higher. But since it was under contract with contingency for me and now back to market, that may affect the house value in some cases but not necessarily. It is a hot area and selling is not a problem.

Lessens learned in a hard way this time. If you need to say I am stupid, I get it and it is totally due to my stupidity. However the most urgent thing is how to get me out of the contract. If you could share your experience or opinions or recommend any experienced real estate lawyer in Georgia, that will be highly appreciated! I enjoyed read posts here and many of you are expert. Sincerely appreciate all your input. 

I have put myself in a bad situation. I will need your advise, especially from the legal side. I will talk to real estate lawyers as well but that will be Monday.

I am under contract with one house in Georgia. Here is my stupid part. I waived the due diligent and the inspection as the seller provided an inspection report to me. I still have the appraisal contingency. The reason why I did that is because all the photos and videos the seller agent provided looked so awesome and I have bought many sight unseen and have not had problems before. Considering the hot market, I don't really believe I have the chance to go there, check it and offer. So I offered like that and didn't think there will be big issue as usual.

The seller accepted the offer and the house went to binding immediately since there is no due diligent or inspection.

The binding is a few days ago, say x date. Earnest money should be paid by me within x plus 3 days. During this time, I visted the house physically and decided that I am not going to pursue the house due to various reasons after seeing the house in person. And that is not something seller can do to change, meaning even if the seller is willing to lower on the price, I still don't want the house any more. hence, I didn't pay the earnest money within x plus 3 days. Then I stupidlly assumed that the contract will be invalid as I had not paid the earnest money.

A couple of days later, the seller agent sent messages to me and told me that I could not backed out after binding. The only way is the appraisal not to the purchase price. Now I realized how seriously this could turn to. As my understanding for that market, the appraisal could be up to the purchase price and of course it cold be below. Currently Zillow's estimate is high than the purchase price. However I understand that It is totally unknown at this moment until the actual appraisal report. However I definitely don't want to risk for that since I 100% don't want to purchase the house now.

I am not sure what options have left for me now. I could just pay the appraisal to see now much the house could reach, maybe? I try to avoid going to appraisal step as it is a big rick. If it appraised higher, I will have to perform the contract which is not what I want.

I am not sure about the seller's attitude now. Seems like they have not canceled the contract yet. They have 7 days to cancel the contract if earnest money is not received per the contract. Should I offer them the earnest money and request them to cancel the contract? I have no problem paying the earnest money but my worry is that, if I offered the earnest money, they may continue on the contract.

Or I could just not applying for the loan and delay the whole process, using that to let seller cancel? I know the seller is not living on the house and they need to sell quickly. I don't think they will have problem selling to someone else for the same price or higher. But since it was under contract with contingency for me and now back to market, that may affect the house value in some cases but not necessarily. It is a hot area and selling is not a problem.

Lessens learned in a hard way this time. If you need to say I am stupid, I get it and it is totally due to my stupidity. However the most urgent thing is how to get me out of the contract. If you could share your experience or opinions or recommend any experienced real estate lawyer in Georgia, that will be highly appreciated! I enjoyed read posts here and many of you are expert. Sincerely appreciate all your input. 

I have put myself in a bad situation. I will need your advise, especially from the legal side. I will talk to real estate lawyers as well but that will be Monday.

I am under contract with one house in Georgia. Here is my stupid part. I waived the due diligent and the inspection as the seller provided an inspection report to me. I still have the appraisal contingency. The reason why I did that is because all the photos and videos the seller agent provided looked so awesome and I have bought many sight unseen and have not had problems before. Considering this hot market, I don't really believe I have the chance to go there, check it and offer. So I offered like that and didn't think there will be big issue as usual.

The seller accepted the offer and the house went to binding immediately since there is no due diligent or inspection.

The binding is a few days ago, say x date. Earnest money should be paid by me within x plus 3 days. During this time, I visted the house physically and decided that I am not going to pursue the house due to various reasons after seeing the house in person. And that is not something seller can do to change, meaning even if the seller is willing to lower on the price, I still don't want the house any more. hence, I didn't pay the earnest money within x plus 3 days. Then I stupidlly assumed that the contract will be invalid as I had not paid the earnest money.

A couple of days later, the seller agent sent messages to me and told me that I could not backed out after binding. The only way is the appraisal not to the purchase price. Now I realized how seriously this could turn to. As my understanding for that market, the appraisal could be up to the purchase price and of course it cold be below. Currently Zillow's estimate is high than the purchase price. However I understand that It is totally unknown at this moment until the actual appraisal report. However I definitely don't want to risk for that since I 100% don't want to purchase the house now.

I am not sure what options have left for me now. I could just pay the appraisal to see now much the house could reach, maybe? I try to avoid going to appraisal step as it is a big rick. If it appraised higher, I will have to perform the contract which is not what I want.

I am not sure about the seller's attitude now. Seems like they have not canceled the contract yet. They have 7 days to cancel the contract if earnest money is not received per the contract. Should I offer them the earnest money and request them to cancel the contract? I have no problem paying the earnest money but my worry is that, if I offered the earnest money, they may continue on the contract.

Or I could just not applying for the loan and delay the whole process, using that to let seller cancel? I know the seller is not living on the house and they need to sell quickly. I don't think they will have problem selling to someone else for the same price or higher. But since it was under contract with contingency for me and now back to market, that may affect the house value in some cases but not necessarily. It is a hot area and selling is not a problem.

Lessens learned in a hard way this time. If you need to say I am stupid, I get it and it is totally due to my stupidity. However the most urgent thing is how to get me out of the contract. If you could share your experience or opinions or recommend any experienced real estate lawyer in Georgia, that will be highly appreciated!

thanks for your reply. Yes, I trusted people too much when they ask for favor. Learned my lesson. However it is sad though that I will have to be alert and cautious under those situation when I really like to help people out whenever I can. There were some good tenants which I helped out in early years. But seems like more and more tenants now are showing no appreciation no matter how much others try to help. It is just sad. I just dont have the time to do all those things. I'd rather spend time to make money on other things than drain myself down in this Sh*thole. And tenants well know this. They know that it will cost me time to do all those. And even i win in court, there is still a long way to get the court order executed. I had a similar case before and it took me almost 3 years to get about $5000 back. Will I do it again for $800? Probably not. Anyway, I believe as a landlord, my leverage is very small compare to tenants. 

Hello everyone, I recently had rented my house to a very greedy and ugly couple. The whole process is like a nightmare which I would like to share with all of you and seek some help and suggestions.

This couple has signed the contract with me for 2 years until May 2018. They pretty much paid on time. One a few times they were late for like 1-2 days. Generally speaking they are ok until this happened at the end. In December 2017, 5 month before lease ending, they called me and said that they are going to start looking for their next house and would like to change the lease term to month to month starting January 2018. And they did emphasize that they probably will still live in my rental until May 2018 since they normally spend a long time looking for a house. Considering they look like decent people and they did not really have much drama going on for the past of months, I agreed. However, right after I agreed, they informed me on 1/1/2018 that they are going to move out on 1/31/2018 and that is my 30 day notice for landlord. I’m so shocked since I felt like I have been setup by them. By then I had to agree since I agreed month to month.

Then the tenants moved out sometime in early January without letting me know. I posted the house for rent online and one potential tenant stopped by and took a look at the house. He let me know that the house was vacant. By then I know they moved out. So I asked them to return the key back to me on January 7th 2018.

There was some other background. They did not have enough funds for December rental and again pursued me to use their deposit as last month rental which only covers till 1/16/2018. I want to kick myself by being too nice to those jerks if I know what will happen next. Remembering our agreement is that the lease will end by 1/31/2018. So per our agreement, they need to pay ~$800 from 1/17-1/31/2018 rental on 1/17. Back in December, when they want to use their deposit to pay the last month payment, I pointed out that I am not comfortable doing so. They have promised me that they will sure pay the remaining amount, it is only a small amount, they have decent jobs blah blah blah….. again, all lies since nothing happened for those $800 until now.

I texted them for the remaining balance for the rent since 1/17, but I never get it. And even worth, here is what they came back with: they said I have demanded the key to be returned to me on 1/7. They paid thro 1/17. Thus I owe them for 10 day rent ~$500!

I am furious about their greediness. I have given them the house key at least 10 days before the contracted starting date to help them move in FREE. I have agreed to help them for early termination without any penalty. I have agreed to use deposit as last piece of payment. They have made nail holes in the wall and patched poorly with different color and I had my painter paint the whole house without charging the them. I have helped way too much and they did not show any appreciation at all! All they promised are lies! They played my kindness. There was one time we were talking in the phone and they said we are not afraid to go to the court which will take you years and you wont get anything from us. Such jerks!

I am not sure if the fact that I asking the keys back on 1/7/2018 will be viewed as I voluntarily ended the lease.

Will the extra 10 days I voluntarily gave them the house key before the actual lease starting date be counted as lease or no?

I am planning to go to small claim. I don’t want them to continue doing this to other landlords. Those are horrible persons! If there is anyone can help me with this situation, or any suggestions will be appreciated!

Best

Ann