All Forum Posts by: Lydia S.

@Stacey Lancaster

Sorry to hear about your issue.  This is why I recommend sewer line scopes as part of the inspection period.

@Keiran Mordea

My understanding of broken priority is limited, but I was recently taught by Southwestern Title that if you buy land, you must have a construction loan lined up before anything happens on the land, including storing materials or digging a well.  Otherwise it results in a $5 per $1000 of the construction loan in cost from the title company.  I believe it’s about 2 years after doing something before you can get away from that expense if you wait to arrange a construction loan later on.

I recommend speaking with your Title company to clarify these points as they are the ones who have that information.

From what you describe, it sounds likely that you’ll have that cost to bear.

@Carolyn Chebaro

Why are you going to speak with a Realtor if you’re not planning to list your property with them?

@Ted Lo what does your lease agreement say about early termination?  Find that, review it, speak to your landlord and put in your notice.  What does your lease say about guests?  Be honest about your sister and they may require she be added to the lease for this month until termination, as well as potentially requiring her to have renters insurance if that’s a lease requirement.  

@Brian Stutzman

Sounds to me like this person doesn’t bother with napkin negotiations, has brought you an actual offer and has spent money on an attorney to do that, so he means business.
Is it a good one?  Does it expire soon?  Do you really want to sell the property?  Because somehow it feels like you’re looking for a way out talking about finding your own forms.  The buyer has come with their form, so use it and good luck with this sale!

@Account Closed

@Rasiel Algaze

I totally disagree with this approach. Your realtor owes you honesty and integrity and you owe them the same. How can your realtor protect your interests and serve your needs if you are lying to them or not being truthful?

@Jonathon Nila

Good morning! You will need to clarify details with your lenders but FHA and first time buyer loan products are typically owner-occupant loans, so may not be applicable in your plans.

You also mentioned contacting a Realtor in California- they should be able to help source out a Realtor in Boise to help with any purchase there.  Or else you just have your wife’s family in Idaho recommend one.

Best of luck to you!

@Adam Robertson

Hi!  regarding the covert amendment, if yours is anything like the one in New Mexico, it addresses what would happen if the buyer or the seller or a required service was directly affected by COVID-19 which impacted the deadlines of the transaction.  It doesn’t say anything about fears or anxiety about selling your home.  So a covid amendment wouldn’t affect your transaction as far as I can tell.

If the seller refuses to close, your options are likely to cost you in legal fees. You could always try to extend closing, but the seller may refuse to sign an extension amendment.

You could always suggest closing and implementing a rent back or occupancy agreement as it’s called here, although I suspect she won’t want that and prefers to get a higher price if she received those other offers.  Wouldn’t you?

You had also mentioned something about her wanting to sell to the right family, and I find myself also wondering if she knows that you are an investor and that has flavoured her response as well, instead of being able to sell to an owner occupant.

If you were to terminate, at least you could put in your termination agreement that she reimburse you for any inspection and appraisal costs but you have already spent, as well as your earnest money.  Other than taking legal action, I am not sure there’s a way to save this deal.
Best of luck!

@Moni Pierre

Forgive me, but I am confused, and maybe it’s because of processes in different states.  You’re saying buyers signed closing docs, and you didn’t?  Why did you not sign the same day and complete the sale?

Deleted, I misunderstood your last post.  Wishing you success!