All Forum Posts by: Kelly Magreevy

hi so I am working with buyers right now that I believed were going to purchase a property all cash for a flip opportunity. I found them two properties on MLS with another agent we wrote contracts showing $5k EMD and then he sends over an addendum that includes the right for him to reassign, listing agent agreed, my buyer plans to sell the contract to his end buyer for a fee. So asking any realtors out there, what have you seen once this investor purchases this? What form is used to do this to sell to this end buyer? I will continue to represent the new buyer to the COE and then again the seller whenever he flips the property. Any agents please share your experience. Thanks

So basically he either purchases one of those three properties, two no longer available and one has an UST on the property he just discovered otherwise he can't do the exchange?

Hi! Thanks for the reply and yes he did. This is what we found and was wondering has anyone done this before:

If you want to keep your options open after the 45th day all you need to do is make a valid written identification of what your replacement properties may want to purchase and then use the remaining 135 days to do your due diligence.

Was wondering if this can be done with a written explanation and has anyone done this before?

Hi! I am working with an investor who has sold a property and is now looking to buy a property to do an exchange. He identified 3 properties within the 45 days and now the deadline is past. But now, none of those properties that he identified are going to work for him. He is past the 45 days and has found another property he wants to add/substitute. How can he do this and has anyone ever done this before. Thanks for your help with this!

Hey Joe A. and everyone else that has been following my story! So I got great news today! After the case went in front of the solar company's legal department they have agreed to remove the solar system and repair the  roof at no cost to my dad. I am not done! I want some sort of financial compensation for my dad for the money that he has  paid into the system. Not sure I will get it but hey you never know until you try. I am relieved that we won't have to deal with the solar system on the house! 

Don't give up polite persistence got this done! I am very happy and will be marketing the house without a solar system HURRAY! Hey one other thing I wanted to tell you all! Some solar companies will NOT allow transfer to new buyer. The new buyer or seller has to buy out the system. I had no idea. I was told this by the title company that I always work with to be aware of some solar companies! Good luck everyone and thanks for "listening" to my story! 

UPDATE! So the solar company just told me that they checked into my file and saw that in order to lease the solar system they ran my dad's girlfriend's credit to purchase the system and she isn't on the title to the house. The representative said that they will fwd my request to have the solar system removed from the house and see if an exception can be made. I will find out what happens by January 10th. I need some good vibes and wishes please people. I promise to update everyone. Thanks!

hi

Hi Everyone! My dad foolishly bought a solar system. I believe he was taken advantage of as his house is a 1200 sq ft manufactured home. Average PG & E bill before the solar was less than $150 a month.  To make matters worse, the solar company had his girlfriend (who was not legally living at the house at the time) sign as a co signer because my dad, being on fixed income, would not have qualified. Now my dad is an a retirement home, we are trying to sell the house. I am the listing agent, and we have a lien attached to the house for the solar system. I am trying to get the contract declared null and void and just remove the solar panels and fix the roof so I can get the house sold. Solar company says to buy it out it will cost $30k.  I don't believe this solar system will bring any buyer attraction only buyer headache. So what do you guys think? Should this contract be even legal if a person co signs for it and the person is not on title? Has anyone dealt with this before? Please advise. Thanks everyone!