All Forum Posts by: Priyanka K.

@Chris Szepessy @Kenneth Garrett @Nathan Gesner

Thanks for your thoughts on this situation! Your responses have been helpful! I agree, may not be a good situation to deal with!! 

I was also thinking of sending him a friendly offer to buy his property! That way i'll have both!! Well, good luck to me! He already hates me!! :)

@Greg H. what??? really? I think it is a genuine scenario, if the intention was to deposit a check that would bounce, this question will not even arise! My question was - do I even need to deposit the check? 

@Chris Soignier thanks for your response! Exactly the answer I was hoping for! :)

@Sam Craven

Thanks much! That is the answer I was hoping for!! :)

Yes, option money has already been received by seller's agent and I know that is non-refundable.

Appreciate your response!

thanks!

priyanka

@Sam Craven Yes, there is an option period which is longer than 3 business days (period for Earnest deposit). 

Sorry, I am not clear on the wordings on the second scenario descried by you above - it says "if NO option period was given..." but I have an option period. It also says "then you are within your legal right to receive the earnest money that had not been deposited yet.". If the Earnest money has not been deposited, how can I receive it? 

My question is - do we need to deposit Earnest if contract is terminated within 3 days? Option period is longer than 3 days.

Sorry for the confusion and thanks for your help!! I appreciate it!

priyanka

@Irene Nash thank you so very much! Yes, that is my exact question and understanding for Texas as well, just want to confirm with a few folks here. Hopefully someone will confirm that for Texas as well.

I appreciate your response!

priyanka

@Sam Craven thanks so much for the detailed response on all those scenarios.

My scenario is - Earnest money IS part of the contract. If contract is terminated withing 3 business days (within the period given for Earnest money deposit), is Earnest deposit still required? 

thanks much!

priyanka

Hello fellow REIs,

I have a quick question on Earnest money check deposit on a property in Texas. Per TREC contract, Earnest check has to be deposited within 3 (business) days. My question is - if the contract is terminated within the 3 days period, is the Earnest deposit still needed? Option period is longer than 3 days.

I understand the option money is non refundable and is lost but want to understand Earnest requirements. 

Thanks for your help!!

priyanka

Hello BP community,

I need some advice on a difficult neighbor situation. I saw a property for ‘Rent and Hold’ and like the deal but had an interesting encounter with the neighbor. The two properties share the common driveway and the occupants need to be nice and not block the driveway or cause other issues. Without going into details, he is a very difficult neighbor and I am concerned that he may cause issues for my tenants.

I am first going to try and talk to him nicely but want to understand my legal rights in case he continues to be difficult and harasses my tenants. 

Thanks a bunch!

priyanka

Real Estate Investor and Agent in Dallas, TX

 Thank you @Basit Siddiqi, this is good information, appreciate your help!

Thanks @Peter M., great advice! appreciate your help!