Posted by Tony Colella on June 14, 2006 at 24:30:59:
Monte,
I cannot begin to believe you have done much research into this business.
Never give a seller money until they have met all of your requirements. Cash is king. The get the money only when you walk through the empty home, get a clear title and get the keys (changing the locks as they drive away).
If you missed that from Lonnie’s books please re-read because there is likely much worse you have missed.
I hope this is analysis paralysis and not a real life event you are facing.
I am wondering how much of a problem, if any, it has been for you to get your seller out after you’ve bought the home? What sort of precautions can be taken to ensure you’ll have an empty home on the agreed-upon date? Or do you just wait till the seller’s out before handing out any money? Any ideas and comments are appreciated.
“Or do you just wait til the seller’s out before handing out any money?” uhhh EXACTLY, as a matter of fact i usually only give 7 days and after that my price goes down by $100 per day…oh and IF they should happen to be in the home when the 1st rolls around THEY are responsible for lot rent
this will get them out quick but if you want to see someone strectch a move out (on whats essentially you time and money) go ahead and give em’ some money to blow