Posted by Jack on June 29, 2005 at 13:46:20:
The Seller can’t just not show up to the closing. If you show up with the money at the scheduled closing time and date, and the Seller doesn’t show up then you can sue for specific performance. Of course if you don’t show up with the money then the Seller can sell the property to anyone.
Stolen Deal - Posted by Wayne
Posted by Wayne on June 29, 2005 at 13:42:09:
I am new to this all, and am just now starting out. I have one concern though.
If I contract for a property for say $45,000 that retails $85,000 and I have found an investor willing to pay me $55,000. I have a contract to buy the property within 30 days but what is stopping my buyer from waiting 30 days and buying directly from the owner at a lower cost possibly 50,000 direct which saves him 5,000 and makes the owner an additional 5,000 and cuts me out?
I hope I am missing something that eliminates this possibility?
Re: Stolen Deal - Posted by Tom-FL
Posted by Tom-FL on July 20, 2005 at 21:57:31:
The thing that stops it is that the house WON’T BE THERE in 30 days if it’s really a deal.
You aren’t saying that you would go to contract, put money at risk, and not close before the 30 days is up, right?