Posted by blogger on November 28, 2007 at 19:40:29:
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Dry Closing and Relisting Help (NJ) - Posted by Jon
Posted by Jon on November 23, 2007 at 19:34:21:
We had a closing scheduled in September, 2007 for a “cash” buyer. The day before settlement, the buyers indicated their sales transcation (where the funds were coming from) was to be delayed about a week and would be agree to a “dry” closing. The week delay has turned into three months. The buyers attempted to get out of the deal (after closing) by raising “disclosure” issues about assessments. When we contacted their attorney, they admitted they just don’t have the money to buy the property and are “grasping at straws” trying to delay/buy time. In the interim, we have relisted and sold the house for $60,000 less with a 30 day closing (we are paying 2 home loans, one in another state where we moved and can’t afford to leave the place vacant). There is earnest money of $60,000 in escrow and total damages of around $20,000 more for interest and other expenses. Our attorneys says we have to “sue” them after the settlement to release escrow plus the difference based on the their breaking a contract but there are no guarantees we will win (even though they went to a dry closing and blatantly admit breaking the contract). This was all cash with no financing contingencies. Any comments or help would be appreciated as we expect to sue the buyers after settlement next month. Thanks.
God be with you. - Posted by Mr Allen Eddy.
Posted by Mr Allen Eddy. on November 28, 2007 at 16:47:20:
Good Day.
My name is Mr Allen Eddy. A merchant in London. I have been diagnosed with Esophageal cancer. It has defiled All forms of medical treatment, and right now i have only about a short time to to live, According to medical experts, i have not particularly lived my life so Well. As i never really cared for anyone (not even myself) but my Business. Though am very rich.
Now that God has called me, i have willed and given most of my Property and assets to my immediate and extended family members as Well as a few close friends. I want God to be merciful to me and accept my soul so, i have decided to give also to charity Organizations, as i want this to be one of the last good deeds i do on Earth. So far, i have distributed money to some charity organizations in the Algeria and Malaysia.
Now that my health has deteriorated so Badly, i cannot do this myself anymore. I once asked members of my family to close one of my accounts and Distribute the money that i have there to charity organization in Bulgaria and Pakistan, they refused and kept the money to themselves. Hence, i do not trust them anymore, as they seem not to be contended with what i have left for them. The last of my money, which no one knows about is the huge cash deposit of six million dollars $6,000,000 that i, have with a finance firm. I want you to help me receive this deposit, invest it.Am ready to offer you 30% and 70% to charity organizations.After going true your profile you have been found fit and qaulified for this job.
If you are intrested urgently contact me via email,as my health condition is geting worse and want to see this project fullfill in my life time
God be with you.
Mr Allen Eddy.
Re: Dry Closing and Relisting Help (NJ) - Posted by dealmaker
Posted by dealmaker on November 24, 2007 at 05:27:13:
I’m guessing I know what a “dry closing” is and I’m not sure why you agreed to it. My rule of thumb, learned the hard way, is that if the buyer wants ANYTHING out of the ordinary, he pays ME, ME, ME, cash money. Not the agent, not the title company, not the attorney, ME.
I don’t care how much they put up for EM ($1K is fine by me) I know it’s virtually impossible to get my hands on that. I’ve had people ask for; "replace front door, change appliances, change landscaping, you name it, I’ve been asked for it.
My rule of thumb is to figure out how much it’ll cost to do it, and then demand 2 1/2-3 times as much, in cash. Amount paid to be credited at CLOSING.
If they don’t pay, I don’t do it. I once had an agent tell me that would be a dealbreaker, told him I didn’t care. If it was a dealbreaker HE should front the money agains his commission. All of a sudden he didn’t like the idea. I collected, did the work, put $2800 more in my checking account, and KEPT IT when they crawfished on the deal.
dealmaker
Re: God be with you. - Posted by dave
Posted by dave on December 26, 2007 at 16:21:45:
Someone please delete This MR. Allen Eddie’s posts!!!
We have a responsibility to the new bees in here to delete these con artists posts!!! Please whom ever is moderating. Thank you and have a great day.