Adventures in REI - The Austin Way (long) - Posted by Chuck Perry - TX
Posted by Chuck Perry - TX on March 17, 2001 at 09:58:42:
Of late, I have had a rash of third parties trying to break my contracts. Normally, when a seller wants out, I don’t press the issue. However, I have two deals right now with NICE back ends and both sellers want out. I have discovered the name of one of the guys trying to break the contract.
Now I know it takes two to tango, so the seller has some culpability or may be the “procuring cause” of the whole situation. My experience has been that when a seller calls me and it is listed with a RE broker or under contract, I flat out tell the seller what they are doing is wrong and I won’t deal with them.
A letter to one seller appears to have worked and they are back at the table. The other seller is still playing games. I hate wasting time on this type of junk since I have better things to do, but I do not believe that I should let these situations go. It sends the wrong message to other investors who may try to take advantage of the situation next time. I only have a name and cell phone number of this jerk, but I believe I should set an example with this guy. I also believe that this guy has friends calling me leaving bogus info and trying to catch me in the act of something silly like brokering RE without a license. My lawyer will send him a letter as soon as we get a solid bead on this guy.
No investment course I have talks about this scenario in depth. I welcome comments.
PS - On both these deals, I have recorded affidavits.