Help!!! I'm being railroaded! - Posted by Ruth

Real Estate Investing
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Posted by Reif on April 06, 1999 at 23:53:28:

Ruth,

I didn’t quite follow your offer strategy, but it doesn’t really matter as long as YOU understand it.

What I would do is ask the real estate agent for a meeting with the seller. Find out what the seller needs. If your offer meets those needs, then make the offer. If the agent wants the details, tell the agent that you will close as contracted and on time. If you don’t, that’s what earnest money is for.

If they don’t like it - well, I’m a new guy, but I’d leave the SELLER your number and tell him you’re ready to listen to any counter offer when they’re ready.

Reif

2

Help!!! I’m being railroaded! - Posted by Ruth

Posted by Ruth on April 06, 1999 at 18:41:23:

hi all, i have been running into a problem, the seller and the agent always trying to railroad the deal to bank financing since I’m offering a down payment I’m sure to get it they think, But you and i know its not my money i’m using for the down since my plan is to resell at 100% owner financing using two notes 1 to sell and the other to assighn to seller, what are the reasons i can use to explain why i dont want bank financing, if i come right out with my plan they are reluctant to cooperate because “the buyer doesn’t have any money in it” I love this stuff!! many thanks for your time in concidering this scenario.

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Re: Help!!! I’m being railroaded! - Posted by CarolFL

Posted by CarolFL on April 06, 1999 at 18:57:16:

Hold up a minute…take a deep breath!
Do you have a contract on the property already?
What does it say?
As some others are prone to say “who’s in control here?”

You are the buyer. It doesn’t always mean you get things 100% your way, but this deal has got to work for you or it’s no good.

So let’s start with, do you have the property under contract already and under what, if any, terms and conditions?
As my mama used to say :‘It’ll be alright, honey.’
Carol

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Re: No it’s not under contract - Posted by Ruth

Posted by Ruth on April 06, 1999 at 19:07:54:

thanks for your reply carol, i dont have it under contract, thats the problem trying to get the seller and his agent to agree to my way of doing this deal so we can wright a contract.

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Re: No it’s not under contract - Posted by CarolFL

Posted by CarolFL on April 06, 1999 at 19:48:49:

Ruth, What kind of contract do you use? Why not just indicate “buyer to obtain financing suitable to buyer”?
and see if that flies? It’s generally the realtors who make things tough!
Good luck - surely someone else will have greater insight than I, and come to your rescue.
Carol