Bubba's Momma is a Real Estate Agent (long) - Posted by Dee-Texas

Posted by Bud Branstetter on February 26, 2001 at 01:14:39:

Do it for Dee and I’ve got some more for you.

Bubba’s Momma is a Real Estate Agent (long) - Posted by Dee-Texas

Posted by Dee-Texas on February 25, 2001 at 16:29:59:

Hi All,
My first L/O from the Buyer is coming due March 1, 2001 with and additional year to buy.
When I L/O’d this property one year ago. The Sellers said * either you take it or the bank will, doesn’t matter to us*.
So, I took the property and found a T/B’er that I’ve had to babysit this whole time (good kids, just started a family too early). The Sellers left and went to live with Momma (Real Estate Agent)their credit was shot and they didn’t care what happened to the house.
My T/B’er won’t be able to buy the house, many things, but they aren’t finacially strong enough. They are trying though went to the bank Friday.
Today Sunday, Sellers, knocking on my door with Real Estate Momma, wanting me to pay off the house by March 1 or else.(I used Bronchicks L/O contacts)
Showed them the extended year and they start yelling foul, I reminded them that they were going to let it go to the bank and ruin their credit, I had saved this part of their credit. Showed them that this was and Option to buy. Momma, putting her two cents in telling me that this wasn’t legal and I took advantage of them…Sellers are 30 & 35 years old.
So…I’m just trying to decide what I want to do. House isn’t that bad, these kids want it, but I never know when they will flake out. House has appreciated about 6K, but it’s with EMC…They are bears to deal with. So closing costs, etc for Me to buy…
So any ideas?
And yes the LOONS are out this month.
Moral of the story, when you see your sellers, T/B’er, renters, etc. bringing someone along. Better get ready for a fight.

PS, guess I’ve been lucky, haven’t really had any problems with my properties…Guess it’s my turn.

Don’t let the DUFUS AGENT/MOMMA get to ya… - Posted by Rick Wheat

Posted by Rick Wheat on February 26, 2001 at 07:14:32:

As long as you had a good document in the beginning, (like Bill’s), and it was filled in properly, (if you followed his instructions), you shouldn’t have a problem. As far as “just go ahead and close it yourself”, Forget It! There’s absolutely no reason for you to go through the aggravations of getting financing yourself, (including the personal liability involved), if you still have a year remaining on the mortgage.

I WOULD make sure your current Tenant/Buyers are in a position to get approved within a short time (a year), since that’s all the time you seem to have. If they CAN’T or WON’T, get them out and put someone else in that can and will.

As far as MOMMA is concerned, tell her to “Pound Sand”.


Rick Wheat

Re: Bubba’s Momma is a Real Estate Agent (long) - Posted by Jeremy FL

Posted by Jeremy FL on February 26, 2001 at 06:41:01:

I know this is going to sound old school and maybe i am not thinking outside the box. IMHO, If it were me I would fulfill the contract and buy the house myself. If that is what I led the sellers to believe then I would close on the house in a year. I don’t think what you are doing is illegal I just think it is obvious they thought you were gonna perform in a year. Just my opinion.

Re: Bubba’s Momma is a Real Estate Agent (long) - Posted by evelyn (FL)

Posted by evelyn (FL) on February 25, 2001 at 19:31:05:

did Bubba’s momma try to help them in any way with the house BEFORE you came along?

Geez, people!!!

Re: Bubba’s Momma is a Real Estate Agent (long) - Posted by Terry (Houston)

Posted by Terry (Houston) on February 25, 2001 at 16:52:27:

If you are making the payments acording to the terms of the lease and you have an option to renew why would you buy?

Real Estate Momma knows you have a contract and there is nothing she can do. So sorry Live and learn miss agent. Show me where it’s not legal.

If the tennants cannot qualify for the buyout get thenm out, as they cannot meet the obligations of the L/O and find someone who can. Or if you think it can be fixed in a short time period try the current tennants.

Either way I would not let the owners force your hand on this. Tell them like Flo used to “Miss Agent You Can Kiss My Grits!”

Best of luck Dee

I can get your buyers qualified! - Posted by John P.

Posted by John P. on February 26, 2001 at 24:39:24:

I can improve the credit of your T/Ber’s. I currently do credit repair and I use it to qualify my prospective buyers on L/O’s and rehabs. The repair takes 45 days and the company has taken credit scores from the high 400’s to 650 in 45 days.We then get a mortgage for our new qualified buyers.

John P. S.FL