All Forum Posts by: Eric F.

@Account Closed

All,

There were unforeseen liens (and quite a bit) against the property so the deal is dead. The liens were probably twice what I think the lot is worth.  

Everyone who has expressed interest, I will respond with information and  pictures tomorrow afternoon. There are a few things I have to confirm in order to make sure all my information is accurate.

@Chris Martin They are not.  

@Uriah D. same with talking to you. I sent a PM

Hi everyone,

I am purchasing a house from a seller in Raleigh. They have a few undeveloped lots on residential streets downtown they want to sell. I honestly do not know the value of the land enough to make them a fair offer. Does anyone buy raw land in downtown Raleigh or know someone who might be interested? These are lots on residential streets, a couple of which have roll off dumpsters in front of a house or two, so renovations are occurring. 

I am thinking about buying one of the lots just to hold myself for a year or two until development gets there (I know, that speculating...bad Eric!) but the others I figure someone may want to build on.

What do you need an attorney to review the contract for?  What contract are you using?  Are you trying to wholesale/assign the deal? 

I thought about it overnight and decided not to call her. If she had not actually gone to the sheriff and called me right in front of him I would consider it, but I don't want to call her and then give her a chance to go back and say "see he called me again, he is harassing me." My theory is people like this want to get angry at everything so why stick my head up to get whacked. Karmatically I would like to call her and maybe help her since she is wrong about her situation, but it does not seem worth it. 

It still boggles my mind that on both messages she said "I know these mailers are untraceable" when my full name, company name, phone number, and company address on right on the card! 

#@Debby Reed It sounds like she did not make a copy for herself and did not want to deal with admitting it. I checked your profile but you don't have a phone number. I was going to call you to make sure I had all the facts before giving any more advice. You can call the number in my signature if you want (but call before 5:30, I have a REIA meeting tonight)

@Andre Eakins I would not worry about sending mail to only ones over 2 years old. Sure the motivation is higher, but 1 year is enough to cause motivation to some people. 

I will tell you what is 100 times more important than having the taxes be over 2 years old. Make sure they are for a real amount! I sent a delinquent tax mailer one time without doing this and after about 10 calls ("I don't owe any taxes you moron*!") I figured out I made a huge mistake. I did not set a minimum amount due and at least half my entries were for people who owed 10 dollars or less. What happened most likely was they got the "tax due" stub in the mail but waited 45 days to pay it, so they were like 5 bucks short because of interest they did not account for, and they never bothered with it again and by the time my mailed rolled around they were into the government for a whopping $7.45

*which I could not argue with, I was the moron here hah

Is it a cash transaction? I'm on day 15 of an all cash close in Wake County. They got the title work back on the 12th day. 

3 weeks to close is not a big deal, but if he is not done it could be a while longer to get it scheduled. When does your contract expire?

First of all, I would not got to the owner as @Wayne Brooks suggests. If you try to go around the wholesaler your reputation is rightfully ruined. 

Of course, you do have the right to see the contract (I'm not 100% sure legally, but you're paying for the contract basically). I cannot believe the wholesaler is even fighting you on this. However, what you do not have the right to do is complain about what they are making. Have you done anything to give the impression you might cause a problem if they are making 30k off the deal? Would you care? Because you shouldn't. 

When did you sign your assignment agreement? I would tell the wholesaler seeing the contract is part of due diligence because it is. Who is the wholesaler? Do you know if this is their first deal? They probably have had their head filled with some guru garbage.