All Forum Posts by: Brett Peters

@Deneuve B., Here in Pa all in person showings/meetings have been banned.

@John Lewis, beside hiring a surveyor you may be able to pull the original blueprint from the record of deeds. Problem is they are usually very archaic. You can also contact the other owners and see if they have already had a survey done or could corroborate a professional third party opinion. Just a thought...

@Syed H., excellent point. The AOS we use in my area have this clause implemented as standard in our document. If the document he or the seller used is not part of the AOS then what I mentioned holds less weight. Thank your for making this point Syed.

@Anthony Caiafa, that is not exactly the case. An agreement of sale can in general be continued endlessly. But in order for that to be the case, both the buyer and seller must agree to it in writing. If the seller or you wish to push that date in the future than an addendum must be signed by both parties. If either party refuses to sign, which they may, them the agreement can legally be terminated with no legal excuse necessary. In other words, if the two of you move past that date with no addendum there is essentially no deal! The only question would he the disbursement of the emd. Forcing their hand and refusing a continuance may be a viable strategy because you are in no way forced to agree!

@Anthony Caiafa, It is b.s. In PA, title reps are still going to great lengths to close transactions. Such as, in car signings, email signatures and sanitizing documents. If you feel that their reasoning for continuance is unwarranted I would have an addendum to the agreement of sale signed that includes some degree of seller concession.

@Stephen Kunen I'm actually in the middle of a major rehab in Reading, Pa. I have shut down all operations mostly due to the lack of motivation on behalf of the contractors. As you know, all non- life essentials have been mandatory to desist. It is safer to you to avoid anytime of fine or penalty to desist. If one if your workers contracts the virus and claims it occured on the premises it could pose major ramifications. I have already seen lawsuits within business establishments taking place. To answer your question in regard to the hard money lender, you would have to draft an amendment to the private money contract and have the lender sign it. Best of luck!

@Kevin Hoff , No problem Kevin. Lessons learned is exactly right. I was an investor prior to becoming licensed and I purchased my first property just about the same way. I was not as smart as you and I held on. Cost me an enormous amount of time and money. Cheers brother!

I see. I'm assuming that company is holding the emd as well. Your best bet is to request to be reimbursed based on the sellers hindrance of inspection within the proper time frame.  If they refuse, by law you can hold an arbitration between you and the seller to dispute the emd. You can do this by contacting the local board of realtors in your area, pay a fee of est. $200 and they will organize the dispute with a mediator. A few pieces of advice for future reference...1.) Find a realtor who specializes in investment. A commercial realtor will be able to do wonders for you in the realm of providing direction even if the property is residential. (Typically the seller will shell the costs of the realtor.) 2.) Always put your emd into escrow with a title company of your choosing! Do not let the seller hold or the sellers title hold the emd. 3.) 10 days is the default amount of time for an inspection you can alter it and lengthen it as long as you like. Best of luck Kevin!

@Kevin Hoff Are you using a realtor or buying independent of any representative?

@Matt R. Very well said.