Oh those wacky attorneys/optionees. - Posted by Redline

import · July 15, 2003, 5:40pm

Posted by Redline on July 16, 2003 at 11:10:35:

Exactly … I’m working on that now.

Thanks,
RL

import · July 15, 2003, 5:40pm

Oh those wacky attorneys/optionees. - Posted by Redline

Posted by Redline on July 15, 2003 at 17:40:24:

Woman has a property she leased with an option to deadbeat tenants 12 months ago. Option/lease expired on June 30.

She now wants to sell quick as they were never timely with their rent payments, of course she always accepted whatever whenever so that’s sort of acceptance. She’s out of state and now just wants to be done with the place.

She wrote her own lease (bad idea), it’s a little vague but does say it runs from July 1, 2002 until June 30, 2003. Tenants (of course) are saying since they “started the mortgage” process before June 30 they still have an option. Mortgage is supposedly in the works, even though there’s been no P&S signed.

Now they haven’t paid full rent in July. She accepted partial payment (mistake). I told her if partial comes in again for Aug refuse it and file an eviction.

Now for the wacky attorney part: Attorney says she can’t sell the property to an investor, only to an owner occupant. Said something about because of the lease she gave the tenants. huh?

Anyway tenants are crying “oh you’re just trying to get more money for the place”. Interesting part is, she is trying to sell to me for considerably LESS than their option price to be done with this.

I told her, file the eviction if they dont pay in full for August and let them argue they still have an option on an expired lease and with no paying full rent and NEVER paying the agreed upon security deposit from the beginning.

Any thoughts?
RL

import · July 16, 2003, 1:27pm

Re: Oh those wacky attorneys/optionees. - Posted by Dee-Texas

Posted by Dee-Texas on July 16, 2003 at 13:27:43:

I would cut to the chase, just ask this women if her attorney is going to buy this property and take care of her headache?..then watch her face…tell her that you can and will buy this property and she’s OUT of the picture. She has no more problems…OR…she can let her attorney take care of things…BECAUSE YOU DON’T have to buy…short and sweet NEXT.
IF you do buy, start eviction and clean up the TRASH.
Great $uccess,
Dee-Texas

import · July 16, 2003, 11:05am

Re: Oh those wacky attorneys/optionees. - Posted by Brian Powers (MI)

Posted by Brian Powers (MI) on July 16, 2003 at 11:05:49:

Redline, have you checked public records to make sure she is the actual owner? She could be in a sandwich L/O where she is L/O from the owner and sub-leasing to her T/B, which would probably prevent you from “sub-leasing” from her only to “sub-lease” or rent to another party.
a bit far fetched but just a thought.
BP

import · July 16, 2003, 8:01am

Re: Oh those wacky attorneys/optionees. - Posted by ken in sc

Posted by ken in sc on July 16, 2003 at 08:01:41:

Redline-

Why don’t you and your attorney take a look at the Option paperwork. If it is true they dont have an option, just buy the house now with them in it and you can continue the eviction for them. This saves the Seller the trouble of a long distance eviction which she should like, and put you in control.

Ken

import · July 15, 2003, 9:15pm

Re: Oh those wacky attorneys/optionees. - Posted by tyler

Posted by tyler on July 15, 2003 at 21:15:05:

Ignor the attorney…, whether you buy it has nothing to due with t/b option to purchase…if they buy great you get the spread…, in the meantime get the eviction started…more than likely if they can’t pay the rent then the credit report bites and they won’t get a loan anyway. Of well…, having them buy from you in next 30 days would be the easy way out

import · July 15, 2003, 7:43pm

Re: Oh those wacky attorneys/optionees. - Posted by Shawn J. Dostie

Posted by Shawn J. Dostie on July 15, 2003 at 19:43:19:

I would file the evictio for non-payment of rent. If they argue, they are going to have to file a counter complaint. Non payment of rent is pretty cut and dried. Either they have a receipt or they don’t. Most of the judges I know, have heard every excuse under the sun. Option or not, they are still required to pay rent according to the terms of the lease and or under the month to month lease laws of your state.

Good Luck,
Shawn(OH)

import · July 15, 2003, 6:09pm

Re: Oh those wacky attorneys/optionees. - Posted by IB (NJ)

Posted by IB (NJ) on July 15, 2003 at 18:09:37:

Hi Rl. Aren’t you in NJ? If so, I believe a landlord can accept partial payment and still evict, according to my attorney.

import · July 16, 2003, 11:12am

Re: Oh those wacky attorneys/optionees. - Posted by Redline

Posted by Redline on July 16, 2003 at 11:12:23:

Checked, she owns it since 1991 so no issues there. She used to live in NJ and now lives in Florida. She wanted a quick sale 1 year ago but when she didn’t get it she did a L/O with the deadbeats, who happen to be distant cousins of hers. Long story but that’s the idea.

Thanks,
RL

import · July 16, 2003, 10:34am

Yep … - Posted by Redline

Posted by Redline on July 16, 2003 at 10:34:16:

That’s what I proposed. She’s considering it, but her attorneys comment about not being able to sell it to an investor (still can’t figure this one out) didn’t help any.

You know how it is … the attorney can be totally wrong but once it’s said the damage is done.

RL

import · July 16, 2003, 10:59am

Re: Yep … - Posted by ken in sc

Posted by ken in sc on July 16, 2003 at 10:59:46:

Maybe you can get the attorney to tell you what statute that is so you can look it up. Tell him you are willing to learn but have not seen that one yet.

Of course, he probably won’t take your call.

Ken