All Forum Posts by: Jerrell Slay

thanks for the advice everyone. The numbers are: 49500 for the house, on my cities property assesor website it says the house is appraised for 35,000. They did do work to the inside and its nice but the neighborhood ain't so great to were the majority of houses sale for 20-40k ( one house sold for 100k new construction bak in 07) , me and my wife thought this would be a great opportunity to obtain a rental property, we plan on living there till its paid off then rent it, we can pay it off pretty quick. the sellers are from Russia and live herhere for some years, should I just talk directly to the sellers and let them talk to there agent? Like James said the realtor is in their corner trying to get them the best deadeal

me and my wife are looking to buy a house lease to own. The couple selling their house seem desperate and doing FSBO, they had me call a Realtor that's basically walking them thru it. When I talked to the Realtor, she said 2 yrs 500/mo but our monthly rent doesn't go towards the principle,( basically just the cost of doing business she says) so at the end of our 2yrs we would have paid 12k that goes to nothing, then have to get financing, and the bank won't loan more than appraised for, is this normal? We believe the house is over priced as it is, and there's a reason the realtor isn't putting her name on it, but she's helping the couple find their new home. I would like for our monthly payments to go towards the principle and for the price to come down a tad, any advice is greatly appreciated.

just an update, the contract held up, the attorney reviewed it, escrow agent called me with a check the same day the attorney looked over the contract, thanks to everyone for the advice and help

update, I got my EM back the attorney at the title company read the contract, apparently the seller didn't read it, the title company called me to pick up my check the same day the attorney read the contract. 

thanks for the insight sue!!

is an email a legal way of communication? My contract states that fax, email, and digital signature would be accepted, but I'm not sure if the title company is accepting those methods

thanks Bob!! I will definitely do that, Im affraid the seller will give me the run around, 

@davidward 

500 I know now that's way to much!!

Thanks to everyone I will definitely do the things you all suggested

6 days ago I entered in to a contract with a seller, my contract has a inspection contingency and a counteroffer contingency, I am well within my 10 day due diligence period and I have decided to exercise my inspection clause after my partner pointed several concerns a counteroffer was also made and the seller turned it down, I emailed him with a written notice of cancellation, I went to the title company and they basically said that he has to give his  approval to refund my EM, now the guy is dragging his feet and doesn't answer his phone when I call, and the title company says that their attorney has to look over the contract and decided how my EM should be disbursed! In my contract it says if required the escrow agent will file a interpleader in court. Any advice is very appreciated 

great points, they said amythings for sale in his book, so I figure it was worth investigating and trying to get to the bottom of this situation. Thanks everyone