Have them convey the property to you with your agreement to convey the property to xxxxxxxx upon the payment of the survey fees. They want you to trust them. Why not make them trust you.
I like that idea. They justed called at can now come up with $7000 retainer.?ÿ
If there is a real estate firm involved you can insist on the buyer putting money into an escrow account to cover your bill.?ÿ The real estate firm sticks that money into an escrow account that pays out whether or not a closing ever happens.?ÿ This worked very well for me in a case where everything was a done deal except the seller backed out completely the day before closing.?ÿ It was family property that some of the relatives had an absolute fit when they heard it was being sold to someone not in the family.?ÿ They put enough pressure on the seller that he buckled.?ÿ The agency paid me promptly as they had to disburse the funds.
Seller backs out and buyer looses his money. ?ÿIt would have sucked to be that buyer. ?ÿGives new meaning to ??caveat emptor?.
I believe the seller could sue for damages and win, easily.
About 35 years ago I was that buyer.?ÿ There were no other bills submitted so I received the full 10 percent I had put down in cash back with no problem.?ÿ Senile grandma in the nursing home owned the ground and the family needed it to sell to pay her ongoing expenses.?ÿ One of her eight children said NO NO NO.?ÿ The did finally sell it to a longtime family friend for more money.?ÿ Good deal for them.?ÿ I got the chance to buy a property next door to me, so had the money on hand to make it happen.?ÿ Good deal for me.
Why not have the attorney sanctioned...they never seem to get enough of the backslap from operations like this one....
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Have them convey the property to you with your agreement to convey the property to xxxxxxxx upon the payment of the survey fees. They want you to trust them. Why not make them trust you.
I like that idea. They justed called at can now come up with $7000 retainer.?ÿ
Funny how that works. Sitting tight and saying nothing can sometimes make amazing things happen. Poof! ??I found $7K just laying around right over there. Hugh? Oh well, here you go. ??
Seems like a great job to take on without a deadline or snow.
Seems like a great job to take on without a deadline or snow.
After getting the abstract I will review it, then make a site visit. Tracts in this area have stonewalls and old barbed wire in trees used as occupation lines. The snow and cold are beneficial, as snowmachine makes it easy to cross frozen water. I will be adding a return visit in spring to check what is under the blanket of snow.?ÿ?ÿ
that is a bear cat of a situation, especially if you want the job, and/or you "like" the client.
I had one exactly like this many years ago, "salt of the earth" owner.
Land rich (very Rich) but cash poor.
the sale fell out.
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the solution, as suggested by a local Atty:
Mortgage (aka Deed of Trust)
the Amount was my Fee (lump sum), plus my cost of financing the work (bank loan or credit card, I forget).
Interest rate was on the high side.
Payments could be minimal, or as in my case, None. He had zip for cash flow.
In my case it was several years before I got a dime, but the property did sell later and I was adequately paid in the end.
that Payment was a factor on my early retirement.
if the Fee is really hard to determine you could start High and agree to adjust it down when you have finished the work.