OfflineOk so Here's My Story Of A Situation I faced When I decided to Cancel A Deal .
So Just before I went off for Vacation to Vegas I had put in A Offer on A Home well I was Out for 5 Days & the Sellers Wanted to close I got home that Monday night & I was told by my Agent that The sellers Wanted to Closed within Just Days so I E-mailed & e-mailed my damn Buyer who I later found out was Off on his own Vacation & So I Canceled The Deal without knowing i wasn't Suppose to Cancel & I really didn't want to .
Anyways this Monday I learned that the Sellers were Threaten to Take action against me for Canceling the deal & For Earnest Cash that was never sent due to me canceling the deal & later found out in the Contract that only the Buyer can Cancel for any reason .
Well Instead of Fighting against them I E-mailed My Agent & Told him It would cost the Sellers more in Court fees then Letting me Redo Our Contract & selling the Home & moving on & For him to Call their Agent back & See if we Could get them back to the table & Just yesterday My Agent got back to me saying the sellers are coming back to the Table & letting me close the deal like I had wanted .
I told my agent they really don't want to File Legal Action cause if you think They'll be loosing more money been in court then just allowing me to go Ahead redo my Contract & close the deal & move on .
I Guess They thought the same thing & Has Came back to the Table & is now allowing me to Close the Deal .
I'm like Why make it Bigger & harder then it has to be & plus I explained to My Agent they had me thinking I had No time to get the Home sold thats why I Canceled But Since it hasn't been that long I was able to get them Back & get them to Re do A new Contract & Let me Close .
Thats Money in My Pocket & Their Pocket & Who wants to Go to Court & end up paying Fees & loosing More money then just letting the Investor Close the Deal & Move on .
So Just to WARN some of you PLEASE READ THOSE CONTRACTS BEFORE SIGNING THEM cause there maybe clause that will pull you in a situation like mines luckly since it happened just Weeks ago I was able to Talk them back to the Table & stop them from filing Legal Action.
This is what I call A Damn good Investor when you can talk the sellers out of doing something that would cost them more money .
The one thing I have learned over the years in real estate, is that deals can be worked out without going to court. It is just handy to have the advice of those who can show us tools and strategies to resolve conflict.
There are so many ways to resolve conflict in a deal, but its the knowing what to say or do that comes with experience and having worked through lots of deals.
Congratulations on working through this.
There is a time to be a bull in a china shop, a time to atract more bees with honey than vinegar, and a time to elegantly lay out the dollars and cents and show people where they maximize their money.
Well done.
Happy Investing!
Think Less ~ Do More
Take Action = Results!
If it is to be, it is up to me.
& For some strange reason why do I feel like The Guy I'm working with is Not Responding back to me On perpose Its like When I don't have anything Hes e-mailing me saying we need Deal's , When I have Deal's Almost locked up & ready to Close hes no were to Be Found & hes the reason why I almost got Sued I'm about to Kick him to the Curb & Post On here If anyone with Cash Buyers want to go in 50/50 in doing serious Deals .
Cause like Now I have This Deal & Another Deal in Vegas that i'm able to close in 10 Days & both homes are attractive prices I think the California Home I Believe is A $200K home & the home in Vegas is A $140K Home & i'm only wanting $90,000 for Both Homes In I can find Cash Buyers for them .
Plus I don't think he knows anything He's telling me I should Wholesale the Homes for more Money basically highering my Price . I'm like No I think I'm doing it right Cause from what I know of If you lock the home up for the listing price for "EXAMPLE" The Home is up for $250K you lock it up for that price & Charge your Fee to Hand your Property over for Less then the Home making your deal look for Attractive to Cash Buyers . I'm like Why Charge A Fee of Higher Price that's Higher then the Actual Home I'm like What Buyer would pay you more for A home thats less then what your asking for .
Like HELLO! I'm not sure if i'm right but I would think If the Home is A Multi-Million Dollar Home then you might be able to get Away with Charging $800K cause the home price is Bigger then A home that's Just $140K .
Please Correct me if I'm wrong .