All Forum Posts by: Sergio P Ramos

@Dan H. There are several reasons why I would say this particular wholesaler did not misleading the owner. 1st.. the purchase price remained relatively the same when I was offered the property before the wholesaler scooped it up. And the fact that I've known this wholesaler for quite sometime outside of the business aspect still has me believe there were no fraudulent or misleading practices done here. The wholesaler is only a wholesaler when he literally has no time take on other projects so he passes them on to me. Based on previous responses I understand now how wholesalers are perceived. I've found myself defending this wholesaler more than I planned to . Haha. When I posted this i was simply looking for some sort of direction or advice. The wholesaler is picking up the legal costs. So it's nothing for me to wait it out. But you make a good point. I wasn't thinking of the fact that I've might have to join in the litigation. Thank you.

@Remington Lyman thank you for the offer. I'll reach out if needed.. as of now I can afford to wait it out. As they say "on to the next one"

@Jay Hinrichs @Russell Brazil maybe i should have rephrased it. I understand how a seller could be lied to. Although I don't know the exact price, it was agreed upon between owner and wholesaler. I am able to make an educated guess based on the original offer from owner to myself before the wholesaler scooped it up and the price agreed upon myself and wholesaler. Based on previous deals through this wholesaler I can average out wholesaler normal up charge percentage. The price is relatively the same based on that information. There seems to be no fraudulent acts. Again, i don't know the exact terms of their contract. I'm simply asking for any type of advice and/or suggestions. Could it be the owner simply didn't know what they were doing?. Owner simply thought he could just walk away from a contract and try to resell the same property. There seems to be some lack of knowledge on the owners' part come to think about it.

@Jay Hinrichs thank you for the response first and foremost.True i am not under contract with the owner. I and under contract with the wholesaler that I believe has rights to the property. So if my wholesaler prevails, I would still be under contract for that property. Right?. I am having wishful thinking here, as to i do not know the true contract terms of their agreement. However, the owner was not lied to. The owner set his own price. I know this because I was in a position to buy the property before my wholesaler. Except he got it under contract before I did. So I simply ended up buying it from my wholesaler. Although I don't understand how an owner could be lied to. If there's such a thing as "buyer beware" is there such a thing called "seller beware "? If you can buy "as is" or buy "site unseen" all which require due diligence on the buyers behalf. Where does it fall if the owner did not do their due diligence?

@JD Martin thank you for your reply. Much appreciated. I have not received my funds back. I'd much rather have the house over the funds. I believe this is where the original seller realized he undersold his property drastically. Some may consider it a unicorn as they say. I am able to wait it out as I've moved on to the next deal while waiting on the outcome of this issue. My wholesalers lawyer says he has "cloud" over the property which keeps the original seller from selling it as you stated. And I am under contract with my wholesaler.

I recently went under contract on a property through my wholesaler. On closing day, the original seller (not the wholesaler) decided they did not like the terms agreed upon. At this point, the earnest money has been collected, and we were under contract to close on that day.. the original seller then tries to resell the property through another wholesaler that i happen to know personally. I was sent the same house I was already under contract through a different wholesaler. The wholesaler that I went under contract with has taken legal action against the original seller. Has this ever happened to anyone? Do I have any legal rights to this property since I was already under contract and was due to close? Would anyone have any advice for this situation? What options do I have under this situation besides ait and wait?.

I've been hearing alot about the market in Florida. Mostly about the collapse in Florida's market. Am I just hearing rumors or is something going on? Is anyone investing in Florida right now?

@Luis Vellon I just closed on that property this past week. Like you mentioned.. really smooth!!. Almost to the point where it felt wrong.. netted more money with almost no extra effor. Thank you for your response... thank you for the lead..

Foremost, thank you for the feedback. I completely understand the argument for exposure through the MLS. I'm a bit confused on how a good listing broker could net me more when I'm already at the top of the market. My current situation: I found a buyer ready and willing to put down deposit before the rehab is even finished. While discussing terms with buyer the topic of which agent will I be using come up. In this case I found my own buyer without even listing it. That got me thinking why not just sell without an agent. Here's where my dilemma lies. I'm so accustomed to paying these commission fees without questions as it's the norm. Looking back, there have been several instances where it might be questionable as to whether I really needed one or not. Now I'm not saying g you don't need an agent ever. I'm simply asking for this particular situation. Not using agents with neither party puts me closer to my original number. Not where I'd like to be obviously. Lesson learned. Back to my original question. I've never sold a property without brokers or agents. Any advise?

I recently purchased an investment property from a wholesaler. Long story short, the read went over budget. Obviously cutting into profit. My question: has anyone sold properties themselves without an agent. Could you possibly hire a lawyer to make sure all paperwork is in order and sell it yourself. Pros and cons? Right or wrong way of doing this? Thank you in advance...