All Forum Posts by: Sherry Lewis

Wow, what wonderful advice once again. I tell you, I am constantly talking to my husband about this site and how helpful everyone is and how much I have learned... Glad its a multiple of folks or he would think I was cheating on him with some guy name "Big" lol...

Ok I sent an email to the owner and told him I was going to take possession of the property because I did not want my first purcahse to be warfare. He never responded to my email or phone call. He did however decide to respond when I left him a poor score on bid 4 assets.... Suddently he had time for me. I did already run a title check on the property and it came back clear except the 1500 in back taxes. I have been battling emotion and business sense of course as it is my first transaction. So here is what I came up with. He will not refund my money; not even sure if I could get it with the little disclaimers that I should have read MUCH MORE CAREFULLY before buying a property on line. In the disclaimer it says the property could be severly damaged. This is the sites disclaimer not the sellers disclaimer. I am certain he knew he was misleading me because he told me to rekey the locks and there were no locks, no doors, no door. I found out that in Ohio only the Seller has to sign the deed so I may own it already and have no choice. I will be talking to an Ohio attorney that was referred by a bp member (thank you so much!) to see if I can just refuse possession and take the loss. If so I will do just that. It seems to be the overwhelming response and I know those opinions come from folks that are much more experienced then myself. If I cannot refuse possession then I will be very honest in a listing, not pay taxes and sell it for whatever someone will give me for it. Literally whatever they will take it for. If I can't get rid of it that way, I can check with the county to see if I can "give" it to them. Does that sound like a good plan?

Nice another little treasure with the oil lamp! Depending on how old it is, it too can be worth something (of course not as much as a bag of mercury coins lol) Way to go! Keeep us updated on the treasure hunt!

I wanted to thank everyone for all of their wonderful advice. I had contacted the seller via email and voicemail, but they never responded (no big suprise). I am going to take possession of the property and complete the deal because that is what I agreed to do. I don't want to start my business out with breaking a contract (even if I do feel their were fraudulent representation made). I will take one and consider it a very expensive (for me) learning experience.

Ahhh Rob, I would have to agree with you to an extent, but not in a case that this was once an old bank. I would tend to believe that was left by the bank years ago. I say good find! If it were family photo's a priceless cameo or locket I would be all over getting in touch with the owners; but in this case if they had known there were a bag full of mercury dimes in a hidden brick they probably wouldn't have lost (if applicable) the house, they would have sold their dimes to save it. Rob... you ever gonna answer my emails about Cleveland LOL.

Ryan, get an appraisal on the value of the coins, get them into coin protectors asap and you have a good start to your retirement depending on how many you have. You can sell them one by one, hold them for future value; I would not sell them as a lot, you won't get your value out of them. Please do keep us informed on how it goes for you! I love a good treasure story!

Carlos and All:

After the initial shock has worn off, I am seeing small possibilites arise and hopefully this is not as bad of a situation as I first felt. Carlos, sorry wasn't meaning to go tit for tat with you. I just really felt taken advantage of and as anyone I didn't like it lol... please forgive if it seemed I had to win... It's just been a very long 24 hours. Deep breath, remove emotions, pick myself up and dust myself off. I have a great support system with all of you and if I let this one bump in the road stress me I will freak myself out and not pursue my dream. Logic has kicked in. Thank you all for your wisdom, words of encouragement and reality checks when needed.

Kathy, thank you hun! Somehow I don't think the refund is going to happen, but I refuse to allow him to keep my money AND the house lol...

Carlos if you were looking at my auction I have no idea how you could think the property looks the same.

Thanks Roy. That was part of what I based it on. When I bought it, the photos shown didnt look too bad and I thought I could do a quick flip to a section 8 rental investor or rent it out myself. I knew it wasn't the best of neighborhoods but for the price, even if a made a grand on the flip it seemed a safe bet. Sadly the house looked nothing like the photos at auction.
Alex:
Too funny and darn now you blew it for me! I can't do it since its now on the internet and they would catch me! LOL

Michael, thank you for your response. I have a realtor in the Toledo area that was referred to me by someone on BP. He did get a bunch of photos. If you go back to page one the link is there to go see them. If you could look at them and then let me know what you think I would appreciate it.

Wow, lots of great feedback.

Carlos, I didn't know what to expect. This is my first project. As for the pics not being that much different? They are drastically different. I am not sure what picks you saw?

Micah, Yes I feel I have definately earned my blunder stripes with this one. Thank you for the fantastic advice. I will take a look at the link. I think that may be a very good avenue. Will follow up with you once I have checked it out.

Michael, thank you for the advise. I did send a note to the seller and I will see what he has to say. The interior was horrid. Banisters through the wall, holes everywhere, staircase destroyed, all plumbing, electrical, furnace, water heater... anything of any value gone, fire in the corner of one room, like they made themselves a campfire, all bathroom smashed tubs, toilets, etc. really really bad lol.. The realtor told me he had someone that would take it if I paid them 3k. Of course that is not even a contemplation for me. I would rather donate it and get the tax write off even if I had to pay the back taxes first. That would cost me 1/2. Now I know too what to expect for 800 lol.

Rob, I do have a property in Cleveland. I sent you an email last week but haven't heard back from you yet. Still trying to find someone up there to look at it for me and see if I made the same blunder. PLEASE get in touch with me. I really need to know the condition. I already paid the back taxes on it. I am in that property for almost 5k.

I agree Greg, hindesight is always 20/20.

Justin, I agree 800 does not seem like much money. For me its alot because I am doing this after being laid up for 2 years with no income.. that being said, more then the 800 I think I am angry that I was taken advantage of and my ego is bruised lol.

Sadly James, I just do not see how the numbers can work. If I thought for one second I could truly recover the situation I would go for it but the ARV is not going to be there. It will take more then the house is worth to make it whole again.

As to buying too many properties at one time; I was feeling confident right up until those pictures arrived a few hours ago lol... Normally I would never have jumped in this deep, but the tax auctions for full deed ownership and no lean attachments were taking place at the county sites. I got my hands on 3 properties all in the same area by a university. The FMV's looked good and the rentals in the area are great. I can only hope and pray they don't all crash and burn. I will say lesson well learned.

Thank you all. That is kind of what I figured. I will send the seller an email and let him know I was quite displeased with his representation of the property and I will not proceed with the purchase. So darned mad at myself right now. I will be going crazy until I find out what I have with my other 4