All Forum Posts by: James Jacobs

Thank you for the responses so far! 

@Charlie Fitzgerald @David Dachtera I did check the public records when I started the process and he is listed as the owner. I don't think the title company has run their search yet, though. So I'm not sure if there are any liens or other issues. 

@Jasmyne M. would you suggest an attorney or other real estate professional to help with this advice? 

I am in the middle of a deal and am getting very frustrated with the seller. He'll seem totally on board for a day or two, then MIA for a week or two at a time.

I found this deal on Craigslist and there are no realtors involved. I'm getting conventional financing, so all money and title work is going through the proper channels. The seller didn't even ask me for earnest money, so the only out of pocket expense I have thus far is for the inspection. I am getting a phenomenal deal and really want this to work out.

I got a signed purchase agreement the 3rd week of July, and we haven't even gotten past the appraisal yet. I had him sign an amendment which extended the closing date to the third week of September, but things have just stalled recently.

Do any of you have any ideas as to what I could do at least to get him to let the appraiser into the property? I honestly don't think he's doing this on purpose, he just seems to be very lackadaisical and scatterbrained. 

I've called, texted, and even stopped by the guy's house a couple times, and he is unresponsive the last several days. One appraiser has already dropped the case, and the bank is on their second appraiser due to the seller not being cooperative. We've told the seller that he can have a family member, friend, neighbor, etc. let the appraiser in, but he always has a story or an excuse. Seems really odd to me.  

Any thoughts?

I am looking for the same advice! Anyone have any experiences and recommendations to share? 

Thank you for the reply, @Jay Barndt. I'll check out the link and searches! 

What are the steps in approaching an owner finance deal when neither party has experience in this type of deal? I'm assuming that the terms really don't matter as long as both parties agree, but is there a rule of thumb as to where to start? Once the terms are set, where do I go from there? Title company? Register of Deeds? Underwriter? Etc? If anyone could share some experiences and/or reference material...it would be greatly appreciated!

Excellent! I'll check it out! 

Do any of you know a way to find or purchase a list of multifamily property owners by location (zip code or city)? I would like to send out some mailers to existing investors who may be looking to sell now or in the future. Any thoughts on this?

@Chris Jackson and @Kevin Cenna thank you very, very much! This is all good info. I think I'm going to steer clear of this one for now. I might re-visit it if it stays on the market for a while, but my gut has been telling me no for the past week or so, and everything you all have said just reinforces my feelings. Thanks again and have a wonderful weekend!

Anyone? Bueller? Bueller? 

Anyone else have any advice or thoughts?