All Forum Posts by: Buster Brown
Buster Brown has started 1 posts and replied 4 times.
Quote from @Bill B.:
It sounds like the seller’s contract with the windmill buyer predates your contract? So maybe your contract is void? Walk away if it was a deal breaker. How much are you paying the sellers to redeem their option? Try to renegotiate if you don’t mind losing the deal if they say no? Lots of options.
Not much for their option so instead of the risk of burning the deal, gonna step back and take my medicine. There wouldn’t be much left for them if we push and succeeded.
I’d suspect that since we’re pending that the property cannot be changed outside of personal property and reserved property. Which I’d think that the mill would be a structure. Being a functional farming windmill with gears and purpose, it’s a tad bit more valuable than decorative windmills. Mill value around 3500-5000 per ebay. Aermotor windmill 6’ bladed wheel with tower 30’. But also that being said, the property is at 40% market. But needs 20% value put back in to be there. Probably foolish to spook the deal, but was curious to what you all thought from your experience and point of view.
Quote from @Russell Brazil:
Was it permanently afixed to the land? If it disappeared that easily it sounds like maybe it wasnt.
There were cemented pieces of corresponding angle iron in the ground which the windmill tower was attached to with bolts. Each corner approximately 8’ apart.
Quote from @Chris Seveney:
@Buster Brown
It doesn’t matter what the agreements say - the windmill is gone.
Question is this person has no money if they are redemption so you can try and get a Lower price but if it’s that good of a deal I wouldn’t rock the boats
My sentiments also, they say no good deed goes…, we are moving some of their belongings to help facilitate the sale. But if you look at replacement value of windmill vs gain. Likely a small pill to swallow in the grand scheme. Thank you for your good words of encouragement.
So we’re buying our first flip farmhouse on a few acres. We are buying from homeowner during their redemption period for the payoff. Good buy. We’ve been in contract with Ernest money at title company. The farmhouse is really cute and the windmill which is an antique aermotor 30’ tall needs work, but someone she said could have it (allegedly about a year ago) for a 100 bucks came and took it over the weekend. We’ve had the agreement to purchase deal signed for 3 weeks and this was not disclosed, however no disclosure form either. We have a simple buyers agreement and we’re buying it cash as is. Wouldn’t our contract nullify any previous promises since the windmill was taken during our pending status? Evidently it took a few men with a boom truck to take it. Looking for ideas on what to do about it. Too much meat on the bone to walk, but the windmill was iconic to the ambiance of the property.