All Forum Posts by: Yiftach Ilyov

@Nick C. thank you for your answer sir! i try to find a way to guess before im approaching the lead

Whole day without a comment ? My English sucks that much?

hey people a question - do you have any way of knowing, even approximately, how much equity your lead has in his property?

after you finding out his purchase price, what mortgage he got, refinanced or not - is there any math for knowing how  much equity he has?

thank you for your time:) 

I'm a great believer in going all over in, as long as you don't put it all in the same basket. Two different things

in california? mmm

Some ever did one or have an experience with one ? All tips needed please! In my are those Tuscan houses sale for wayyyy above market value.. people are willing to pay a premium for those style houses.. personally I think they're but ugly .. but I'm not gonna be the one who lives in it :)

I asked myself the same question today and I did a small research- Harvey created some opportunities for investors in Texas . If I stand correct they predicting 1-2 years for the RE market to stand back on his feet and around 10 billion dollar in mortgages that people gonna have problem to pay now= tax delinquents = opportunities . I'm in the same boat as you, closing on the 15th and no insurance agency want to insure me. Most of them have a cease on FL. No insurance = no lender = no deal . If you find an insurance agency please let me know ! My assumption for the impact - depending on how bad it's gonna hit. Even though Tampa is more prepared for storms than Texas(Texas has only 15% of owners insuring for flood damage ! ), there still will be opportunities created by home owners with small equity and a destroyed houses that will want to walk away. One men's trash is another men's treasure😊. Also, places that gonna be severely hit will have a hold on new constructions because a. People will hold on purchasing and local investors will hold on putting money and recalculating and b. Contractors will push New constructions and focus on reconstruction of the ruins. People don't make big life decisions in traumatic times and if they do it's usually mistakes that create more opportunities

Originally posted by @Jason Hirko:

@Yiftach Ilyov Don't listen to the people telling you that you're only going to be able to get your expenses back. Courts can and will 'force them to sign'... it's called specific performance. In Texas, I can file a Memorandum of Contract on the property for two hours of an attorney's time and a filing fee and the seller won't be able to get clear title from a title company down the road. Definitely call your lawyer. Now, if she can't pay off all the liens with your purchase price, that gets tricky, but don't let the title company be lazy and tell you she can cancel the contract. 

thank you for the comment man! yes, i am well aware to the specific performance procedure, i didnt know that it will cost me only 2 lawyer hours.. i think that is the route im gonna go with cause my research didnt yield more creative options.

thank you all for your comments!

Originally posted by @Joe Splitrock:

Originally posted by @Yiftach Ilyov:

I'll shed some info;

Deal was found on mls for 177k, we offer 160, closed on 162k, did everything I had to do on the inspection period etc etc, seller god the final hud from the bank and realized she needs to bring 6k to the closing table , so for us not to lose the deal we offered to bring to the table 6k( her agent give up on 2k of her commission ). Her agent couldn't convince her to do the change and today the title company emailed us saying she canceled the contract and she's not willing to sale on anything .
I have a meeting with a lawyer on Thursday , I was trying to see if someone was in this situation and what was the outcome

You can't make someone sell or buy a property. If they refuse to sign, your only recourse is to recover monetary damages. That would probably amount to your expenses into the deal. Inspections, appraisals, attorney fees, etc. You can't force them sign the contract. The deal is gone.

she signed a contract, 2 weeks ago. she doesnt want to sign the final papers on the closing day. she has to have some legal obligations no?>

I'll shed some info; Deal was found on mls for 177k, we offer 160, closed on 162k, did everything I had to do on the inspection period etc etc, seller god the final hud from the bank and realized she needs to bring 6k to the closing table , so for us not to lose the deal we offered to bring to the table 6k( her agent give up on 2k of her commission ). Her agent couldn't convince her to do the change and today the title company emailed us saying she canceled the contract and she's not willing to sale on anything . I have a meeting with a lawyer on Thursday , I was trying to see if someone was in this situation and what was the outcome