Posted by Rich-CA on December 08, 2008 at 18:22:17:
my own reaction to such an action would be to file a counter complaint that the only purpose of filing such with no standing would be to attempt extortion. Be aware that sometimes the response can be VERY hostile and prepare yourself for it.
Our house. - Posted by Anthony Ludwig
Posted by Anthony Ludwig on December 07, 2008 at 14:08:41:
Our realtor bought a house for us to buy. he told us that we had to do some work before we could close. we put around 4 thousand dollars into the house. after the 90 day flipping rule we went to close. due to the fact that the work we done was put on home depot lowes and other cards we ould not close now due to debt to income. our realtor told us we have 30 days to close or he will put the house back on the market. i want to know what i can do to atleast get the money that i put into the house back. i have all recepits for every purchase. thanks
Anthony
What does your P&S Agrmt say? - Posted by blogger
Posted by blogger on January 26, 2009 at 09:11:21:
Surely you didn’t put money into a property without having a written purch & sale agreement in place?
If so, then you’ll probably lose the $1000 you so carelessly spent and you’ll probably not make this same mistake again.
Re: Our house. - Posted by Bill H
Posted by Bill H on December 07, 2008 at 19:07:52:
Rich-CA is correct. The only other alternative I can immediately think is to record a mechanics lien for the $$$ you are out. That will immediately cloud the title and must be taken care of before a sale.
Good Luck,
Bill H
Got the deal in writing? - Posted by Rich-CA
Posted by Rich-CA on December 07, 2008 at 15:43:15:
Is anything the Realtor said in writing? Specifically regarding the work being done prior to closing? Your only recourse is small claims court, but they will want to see evidence of an agreement in order to act on the complaint to recover your money.
Outside of court, have you asked him to pay off your expenses (not your labor, unless you are licensed) out of escrow when the house sells? You might be able to get your money back if you explore a means he can pay you without having to dip into his savings to do it and being paid out of escrow on the sale is a way that could happen.
Mechanics Lien - Posted by Rich-CA
Posted by Rich-CA on December 07, 2008 at 20:59:47:
That would only work if he was (1) doing work for hire and (2) if its a licensed trade, he’s licensed for the work he did. Otherwise, its no big deal to get the lien removed.
Re: Mechanics Lien - Posted by bill h
Posted by bill h on December 08, 2008 at 15:19:33:
Hi Rich,
True, my only intention here is to immediately cloud the title and perhaps gain a bit of leverage in the upcomping negotaiations.