Guest guest Posted July 22, 2006 Report Share Posted July 22, 2006 hey yall i have an issue i'm like freakin out over. Now you all know i'm trying to buy a house... well the people called today that are selling the house and said there is someone else wanting to do a sellers agreement... what is that and do i have to worry that some jerkoff is gonna snach this house out from under me? we already talked to the mortgage ppl and are willing to put a down payment if necessary. Only thing holding this up is the building inspector guy is out of town till tuesday....so we cant get an appointment till then or later. Grrr. Stressing out so bad over here i really want this house! HELP! The lady selling it said she would let the other ppl know its about sold and waitin on the build. permit and put them off till tuesday or wed...Now is she blowin smoke at me to get this thing sold? i mean its only been a lil over week, come on! I dunno. Sorry for the vent i'm just so damn nervous... Any advice would be appreciated. HUGS Quote Link to comment Share on other sites More sharing options...
Guest guest Posted July 22, 2006 Report Share Posted July 22, 2006 She may be or she may be letting you know so that you wont waste any time getting things done. She is probably just as anxious to sell as you are to buy.. Just hang in there... --------------------------------- How low will we go? Check out Messenger’s low PC-to-Phone call rates. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted July 22, 2006 Report Share Posted July 22, 2006 Hi , Do you have a sales agreement signed with this woman? If you are willing to buy this house pending the building inspection you should have a contract signed by both parties stating so. This would prevent her from selling to anyone else. Most sales agreements state that you (the buyer) are going to purchase such and such a property for such and such an amount with such and such an amount as deposit. There would be a clause in there stating that the building inspection if it turns up something disagreeable to you the buyer, would give you an " out " of the contract. Also, many such contracts have a clause stating that if you are unable to sell your house by this certain date, the deal would be off, but it doesn't sound like that is an issue here. In the absence of such a contract, she has the legal right to sell the house right from under you. That is, if all you have is a verbal agreement, this will mean nothing. Hope this helps. And I hope you get the house. Lori [ ] OT real estate hey yall i have an issue i'm like freakin out over. Now you all know i'm trying to buy a house... well the people called today that are selling the house and said there is someone else wanting to do a sellers agreement... what is that and do i have to worry that some jerkoff is gonna snach this house out from under me? we already talked to the mortgage ppl and are willing to put a down payment if necessary. Only thing holding this up is the building inspector guy is out of town till tuesday....so we cant get an appointment till then or later. Grrr. Stressing out so bad over here i really want this house! HELP! The lady selling it said she would let the other ppl know its about sold and waitin on the build. permit and put them off till tuesday or wed...Now is she blowin smoke at me to get this thing sold? i mean its only been a lil over week, come on! I dunno. Sorry for the vent i'm just so damn nervous... Any advice would be appreciated. HUGS Quote Link to comment Share on other sites More sharing options...
Guest guest Posted July 22, 2006 Report Share Posted July 22, 2006 Real Estate is a very regulated business and each state has their own laws. Here in FL nothing is legal until something of " value " is exchanged. That usually means money but can mean other things too. _,_._,___ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted July 22, 2006 Report Share Posted July 22, 2006 Hi , I know that in California any real estate purchase/sale has to be done in a written contract, otherwise there is no sale/purchase. Anything verbal doesn't count, and you are right she can sell the house out from under you, because you don't have a contract. In this contract you can insist on certain contingencies, such as purchase dependent upon inspection and if repairs are necessary they do the repairs or you don't have to buy the house, purchase dependent upon a mortgage being secured by you, purchase dependent upon your current house being sold, etc. Also, you can state that the seller pay for certain fees, these fees can include closing costs and the appraisal fee among other fees. The appraisal should be done by an appraiser of your choice or your mortgage companies choice, not the seller. This is to make sure the appraiser is on the up and up. Most mortgage companies will require an appraisal to make sure you are not overpaying for the house. You can also ask that the seller pay for an insurance policy that insures the plumbing and electrical and certain appliances for a year or two. You can also require a close of escrow date, such as 30, 60, 90 days, etc. depending on what day you and the seller agree escrow should close. Out here in California we mainly depend on a reliable real estate agent to put the sale/purchase together for us, and some use an attorney as well to make sure everything is on the up and up. Check out the real estate agent with the local real estate board to make sure they are also on the up and up. I understand in certain states an attorney is the way to go. I suggest that you use an real estate agent or an attorney for advise, after all this is a huge investment and a Major stress and you should be very cautious. You can use the real estate agent the seller has used to list the house, but check them out to make sure they are reliable. I wish you the best and hope everything goes as smooth as possible, and try not to get too stressed during this stressful time. Let us know how it goes. Hugs Lori Maynard <lorimaynard@...> wrote: Hi , Do you have a sales agreement signed with this woman? If you are willing to buy this house pending the building inspection you should have a contract signed by both parties stating so. This would prevent her from selling to anyone else. Most sales agreements state that you (the buyer) are going to purchase such and such a property for such and such an amount with such and such an amount as deposit. There would be a clause in there stating that the building inspection if it turns up something disagreeable to you the buyer, would give you an " out " of the contract. Also, many such contracts have a clause stating that if you are unable to sell your house by this certain date, the deal would be off, but it doesn't sound like that is an issue here. In the absence of such a contract, she has the legal right to sell the house right from under you. That is, if all you have is a verbal agreement, this will mean nothing. Hope this helps. And I hope you get the house. Lori [ ] OT real estate hey yall i have an issue i'm like freakin out over. Now you all know i'm trying to buy a house... well the people called today that are selling the house and said there is someone else wanting to do a sellers agreement... what is that and do i have to worry that some jerkoff is gonna snach this house out from under me? we already talked to the mortgage ppl and are willing to put a down payment if necessary. Only thing holding this up is the building inspector guy is out of town till tuesday....so we cant get an appointment till then or later. Grrr. Stressing out so bad over here i really want this house! HELP! The lady selling it said she would let the other ppl know its about sold and waitin on the build. permit and put them off till tuesday or wed...Now is she blowin smoke at me to get this thing sold? i mean its only been a lil over week, come on! I dunno. Sorry for the vent i'm just so damn nervous... Any advice would be appreciated. HUGS Quote Link to comment Share on other sites More sharing options...
Guest guest Posted July 22, 2006 Report Share Posted July 22, 2006 Ya should be able to make an " ernest money deposit " and sign a contingency contract with the seller. the contract would list the sale of your property and the inspection as needing to take place before the sale is final this type of contract is pretty common. Karolyn in FL -- [ ] OT real estate hey yall i have an issue i'm like freakin out over. Now you all know i'm trying to buy a house... well the people called today that are selling the house and said there is someone else wanting to do a sellers agreement... what is that and do i have to worry that some jerkoff is gonna snach this house out from under me? we already talked to the mortgage ppl and are willing to put a down payment if necessary. Only thing holding this up is the building inspector guy is out of town till tuesday....so we cant get an appointment till then or later. Grrr. Stressing out so bad over here i really want this house! HELP! The lady selling it said she would let the other ppl know its about sold and waitin on the build. permit and put them off till tuesday or wed...Now is she blowin smoke at me to get this thing sold? i mean its only been a lil over week, come on! I dunno. Sorry for the vent i'm just so damn nervous... Any advice would be appreciated. HUGS Quote Link to comment Share on other sites More sharing options...
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