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 Housing in Florida purchased thru an Investor |
Cojak |
My wife is getting older, and we are approaching the age that we will have to park this Motor Home. So we have been house hunting. We own homes in NC but want one in Florida. WE found a house that fit the bill, and doesn't have a contract (finally).
The guide lines are "You have 30 minutes to see the property, no inspections, no loans, cash only. Closing using 'our' two page contract with NO ADDENDUMS, closing in two days. (there was a lot more but that was the basic). WE accept no checks, wire 2,500 to our Title company, non refundable, if buyer backs out and we have met our contract.
Now we have built, bought and sold over a hundred homes, so this is not our first rodeo, but it is our first introduction to this situation. We did get a realtor. She is good, and is familiar with this investment company.
I had no problem with their conditions/contract. Except the house is occupied by Irene and her Pit Bull. They really did not look like they were about to move, expecially in 2 days. I have experienced occupied rental homes, and it is no fun if the rentor does not want to leave. we weren't about to accept giving Irene & Pit time to move after we owned the home.
So the Investors agreed to have Irene and the Pit out by next Friday for our walk thru. Our realtor did force an addendum saying we will not accept an occupied home.
I have wired the earnest money. I was surprised that our bank charged to 'wire funds'. I didn't know that, it costs $30 to wire the money.
My question (which may be too late) has anyone in Florida bought thru an investment company?
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Some facts but mostly just my opinion!
jacsher@aol.com
http://shipslog-jack.blogspot.com/ |
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Posts: 24277
7/29/16 11:34 pm
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Nature Boy Florida |
No...Florida is no different than anywhere else.
It should not be done that way.
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Whether you like it or not, learn to love it, because its the best thing going today! |
Acts-pert Poster
Posts: 16619
7/30/16 7:22 am
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| Re: Housing in Florida purchased thru an Investor |
Old Time Country Preacher |
| Cojak wrote: | | The guide lines are "You have 30 minutes to see the property, no inspections, no loans, cash only. Closing using 'our' two page contract with NO ADDENDUMS, closing in two days. (there was a lot more but that was the basic). WE accept no checks, wire 2,500 to our Title company, non refundable, if buyer backs out and we have met our contract. |
Cojak, son, I hope you jokin, cause ifn you ain't, you probably done got got an lost at $2,500. |
Acts-pert Poster
Posts: 15566
7/30/16 3:20 pm
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bonnie knox |
I was wondering what happened to Irene. I noticed she hadn't posted on Acts lately.  |
[Insert Acts Pun Here]
Posts: 14803
7/30/16 5:26 pm
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Cojak |
I did the signed contract along with an addendum, signed also by the seller that we will have a walk thru next Friday to see a vacant house.
I had to smile because in our short meeting the investor said, "There will be no addendum to our contract, take it as is, or it is no sale."
I chose a good realtor methinks, "She spoke up and said, I will take your contract, I will talk to my clients, WE will close in a week, not 2 days, that is ridiculous. I will also send you an addendum and if you do not accept it, I advice my clients to step away."
So we do have a binding contract with an addendum.
Bonnie, Irene looks like she could still be there next Friday (but I hope not) I advise you guys not to be nasty to Irene I have seen that PIT and it is BIG!
OTCP, I have never lost on a realestate deal, broke even during CArter's administration once but never lost. (I hope this is not the first time. 
_________________
Some facts but mostly just my opinion!
jacsher@aol.com
http://shipslog-jack.blogspot.com/ |
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Posts: 24277
7/30/16 5:45 pm
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bonnie knox |
| Quote: | | I chose a good realtor methinks, "She spoke up and said, I will take your contract, I will talk to my clients, WE will close in a week, not 2 days, that is ridiculous. I will also send you an addendum and if you do not accept it, I advice my clients to step away." |
She sounds like a character right out of one of your novels! I like her style. |
[Insert Acts Pun Here]
Posts: 14803
7/30/16 5:50 pm
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| Cojak...where? |
Aaron Scott |
This is unusual. But some companies like to play hardball...until you play back.
No inspections? That will work for you (being an expert), but not for most others. I would immediately imagine that there is some huge issue that is trying to be hidden. But then again, you know you're stuff like few others. |
Hon. Dr. in Acts-celeratology
Posts: 6032
7/30/16 9:36 pm
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| Re: Cojak...where? |
Cojak |
| Aaron Scott wrote: | This is unusual. But some companies like to play hardball...until you play back.
No inspections? That will work for you (being an expert), but not for most others. I would immediately imagine that there is some huge issue that is trying to be hidden. But then again, you know you're stuff like few others. |
I was licensed to inspect, structure, electrical and plumbing in NC. I am fortunate in that respect.
I have hopes on this one, even if it is the weirdest deal I have ever encountered., the place looks good to me (thru the mess, junk and clutter). It has every thing we were looking for, price, RV parking and inside, an ideal spot for an added bathroom. I know going in that it needs a complete overhaul in painting, floors and repairs. That I am looking forward to.
According to my realtor an investor approaches a 'FSBO' person and offers to market the house for the person for anything over a certain figure they get. They do a three way sale, all cash, from the owner to the investor, then to the buyer. That way the investor does not have real estate license.
This is odd to my thinking, but I am looking for a 3br 2b house we can afford. I chose a realtor, since I am not familiar with Florida law and rules. We have owned and rented in Florida.
We never insure a house in Florida, the insurance is too high (in my opinion) I was just wondering if anyone here in Florida had ever purchased thru an investor.
_________________
Some facts but mostly just my opinion!
jacsher@aol.com
http://shipslog-jack.blogspot.com/ |
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Posts: 24277
7/30/16 11:26 pm
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| Re: Cojak...where? |
R. Keith Whitt |
| Cojak wrote: |
We never insure a house in Florida, the insurance is too high (in my opinion) I was just wondering if anyone here in Florida had ever purchased thru an investor.
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Cojak, I've tried several times, but have never been successful. Every one wanted me to pay for what "it can be," not what it is....
BTW, do you mind sharing what part of FL? I'm in the Lakeland area.
Keith
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R. Keith Whitt |
Acts-celerater
Posts: 684
7/31/16 2:19 pm
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| Re: Cojak...where? |
Cojak |
| R. Keith Whitt wrote: | | Cojak wrote: |
We never insure a house in Florida, the insurance is too high (in my opinion) I was just wondering if anyone here in Florida had ever purchased thru an investor.
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Cojak, I've tried several times, but have never been successful. Every one wanted me to pay for what "it can be," not what it is....
BTW, do you mind sharing what part of FL? I'm in the Lakeland area.
Keith |
We are looking in the Deland/ Deltona area. This house is in Deltona.
We were moving today. we moved to Wekiwa Springs State Park to be nearer our search area.
If this doesn't work, we will look closer to Daytona (Port Orange) and switch our look to a trailer. WE are not afraid of a mobile home, we lived many of our younger years in them. The double wides on their on lots are within our budget.
We bought our first big Motor home at Buddy Greg there in lakeland.
_________________
Some facts but mostly just my opinion!
jacsher@aol.com
http://shipslog-jack.blogspot.com/ |
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Posts: 24277
7/31/16 6:01 pm
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Old Time Country Preacher |
| Cojak, at house aint in the middle a the Everglades is it? |
Acts-pert Poster
Posts: 15566
7/31/16 9:56 pm
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Cojak |
| Old Time Country Preacher wrote: | | Cojak, at house aint in the middle a the Everglades is it? |
No sir, I had one that had its own alligators, but I sold it about 10 years ago. I do miss 'em.
_________________
Some facts but mostly just my opinion!
jacsher@aol.com
http://shipslog-jack.blogspot.com/ |
01000001 01100011 01110100 01110011
Posts: 24277
7/31/16 10:34 pm
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