Home Mail MemberMap Chat (0) Wallpapers
Go Back   ChiefsPlanet > The Royal Lounge

Reply
 
Thread Tools Display Modes
Old 04-09-2014, 08:20 PM  
BigRedChief BigRedChief is offline
Brainwashed
 
BigRedChief's Avatar
 
Join Date: Dec 2003
Location: Swims with fishes
Casino cash: $8779
VARSITY
Anyone know a real estate lawyer?

Got a house with a lease to own contract. They don't buy by the end of the month we get the $10K. They want to make a new deal. We have a contract.

Need to consult with a real estate lawyer to figure out the best path. Anyone know someone?
Posts: 43,340
BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.
  Reply With Quote
Old 04-09-2014, 08:56 PM   #16
vailpass vailpass is offline
Yah Mules!
 
vailpass's Avatar
 

Join Date: Sep 2001
Casino cash: $7664
Quote:
Originally Posted by BigRedChief View Post
The real estate agent says its earnest money. The real estate company she works for has the money.

We are worried about them squatting, staying, tearing up the place, the friend doing something with the money etc.
Then you're correct in seeking counsel. Going forward, if I may suggest, you need to know your contract inside and out. We all live and learn.
__________________
It don't matter what line we hand you
When we come a crawlin' in.
We ain't wrong, we ain't sorry,
An' it's probably gonna happen again.

T. Byrd
Posts: 36,917
vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.vailpass is obviously part of the inner Circle.
  Reply With Quote
Old 04-09-2014, 08:57 PM   #17
Hog Farmer Hog Farmer is offline
Good Donkey = Dead Donkey
 
Hog Farmer's Avatar
 

Join Date: Nov 2001
Casino cash: $7786
Quote:
Originally Posted by BigRedChief View Post
The real estate agent says its earnest money. The real estate company she works for has the money.

We are worried about them squatting, staying, tearing up the place, the friend doing something with the money etc.
Is your contract a Lease/ with option to buy ? If so then the down payment is considered "option consideration"

If it's a straight Lease to own then the down payment could be construed as earnest money.
__________________
We could still go 14-2 . Right !
Posts: 15,446
Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.Hog Farmer 's phone was tapped by Scott Pioli.
  Reply With Quote
Old 04-09-2014, 09:00 PM   #18
Red Beans Red Beans is offline
Not dead yet...
 
Red Beans's Avatar
 

Join Date: Nov 2008
Location: The Vista
Casino cash: $6015
Quote:
Originally Posted by Hog Farmer View Post
They've normally put down the down payment up front so he should already have possession of the money. I label it as "option consideration" which becomes nonrefundable rent in the event they don't exercise their option to purchase the property.
Are pigs still that fickle when you're not jacking them off?
Posts: 1,954
Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.Red Beans Forgot to Remove His Claytex and Got Toxic Shock Syndrome.
  Reply With Quote
Old 04-09-2014, 09:04 PM   #19
luv luv is offline
Someday
 
luv's Avatar
 

Join Date: Dec 2004
Location: Springfield, MO
Casino cash: $6200
I work for two.
__________________
It's never too late to become the person you were meant to be.
Posts: 59,675
luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.luv is obviously part of the inner Circle.
  Reply With Quote
Old 04-09-2014, 09:06 PM   #20
Chieftain58 Chieftain58 is offline
Fan club member
 
Chieftain58's Avatar
 

Join Date: Jun 2002
Location: Land of OZ
Casino cash: $5092
Vested Interest is what it is called and you better negotiate or you can spend more money litigating this contract then it is worth
__________________
Posts: 1,591
Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.Chieftain58 must have mowed badgirl's lawn.
  Reply With Quote
Old 04-09-2014, 09:11 PM   #21
chiefzilla1501 chiefzilla1501 is online now
MVP
 

Join Date: Aug 2008
Casino cash: $8636
I know an estate lawyer, but he seems fake to me.
Posts: 20,432
chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.chiefzilla1501 is too fat/Omaha.
  Reply With Quote
Old 04-09-2014, 09:13 PM   #22
HonestChieffan HonestChieffan is offline
Country Santa Year Around
 
HonestChieffan's Avatar
 

Join Date: Jan 2006
Location: In the Country in MO
Casino cash: $8169
Quote:
Originally Posted by BigRedChief View Post
The real estate agent says its earnest money. The real estate company she works for has the money.

We are worried about them squatting, staying, tearing up the place, the friend doing something with the money etc.
Well yea. You haven't already looked into eviction process? They likely get 4 weeks where you can't touch them. They will rape the place in that time and leave you with a shell.
__________________
Frazod to KC Nitwit..."Hey, I saw a picture of some dumpy bitch with a horrible ****tarded giant back tattoo and couldn't help but think of you." Simple, Pure, Perfect. 7/31/2013

Dave Lane: "I have donated more money to people in my life as an atheist that most churches ever will."

Come home to Jesus Dave. Come home.
Posts: 28,703
HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.HonestChieffan is obviously part of the inner Circle.
  Reply With Quote
Old 04-09-2014, 09:45 PM   #23
Tacoman Tacoman is offline
Starter
 
Tacoman's Avatar
 

Join Date: Nov 2013
Location: Utah
Casino cash: $5110
I'm a Realtor in Utah, I sent you an email offering up the best insight I could working with generalizations and no contract in hand, hopefully you find something useful in it.
Posts: 72
Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.
  Reply With Quote
Old 04-09-2014, 09:46 PM   #24
Tacoman Tacoman is offline
Starter
 
Tacoman's Avatar
 

Join Date: Nov 2013
Location: Utah
Casino cash: $5110
Good luck with the situation, hopefully they don't lose their head and do something stupid, that is a decidedly bad to worse scenario.
Posts: 72
Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.
  Reply With Quote
Old 04-09-2014, 10:00 PM   #25
BigRedChief BigRedChief is offline
Brainwashed
 
BigRedChief's Avatar
 

Join Date: Dec 2003
Location: Swims with fishes
Casino cash: $8779
VARSITY
Quote:
Originally Posted by Tacoman View Post
Good luck with the situation, hopefully they don't lose their head and do something stupid, that is a decidedly bad to worse scenario.
We found them a private investor that offered them a deal to pay $200 more than they pay in rent and they own the place. They turned it down. I don't see how they are going to get a better deal.

When they initially moved in, they put in granite, had the wood floors redone and some landscaping work done. Supposedly spent $10K to improve the place.
__________________
People who think they know everything are a great annoyance to those of us who do.

Issac Asimov
Posts: 43,340
BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.
  Reply With Quote
Old 04-09-2014, 10:48 PM   #26
doomy3 doomy3 is offline
Supporter
 
doomy3's Avatar
 

Join Date: Aug 2005
Location: Lee's Summit, MO
Casino cash: $5910
You're screwed. If a real estate company is holding the earnest money, and they (the buyers) don't agree to release it to you, then that money will end up going to the state in a year. Neither of you will get it, if both parties don't agree about where the money is going.

Lesson learned for next time: Don't ever agree to something like this unless it is in the contract that you hold the deposit money and that it is completely non-refundable.
Posts: 12,461
doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.
  Reply With Quote
Old 04-09-2014, 10:59 PM   #27
Tacoman Tacoman is offline
Starter
 
Tacoman's Avatar
 

Join Date: Nov 2013
Location: Utah
Casino cash: $5110
Quote:
Originally Posted by doomy3 View Post
You're screwed. If a real estate company is holding the earnest money, and they (the buyers) don't agree to release it to you, then that money will end up going to the state in a year. Neither of you will get it, if both parties don't agree about where the money is going.

Lesson learned for next time: Don't ever agree to something like this unless it is in the contract that you hold the deposit money and that it is completely non-refundable.
This isn't necessarily true in Utah, I don't know what Kansas law is in this setting though. In Utah you would need buyers signatures to release funds if the money was held at a title company, but if it was held at a brokerage it would be a conversation between brokers. If the buyers broker (the agents boss) after reading contract came to the conclusion that his clients were the party in breech he/she could release the money without signatures from the buyers.
Posts: 72
Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.Tacoman is not part of the Right 53.
  Reply With Quote
Old 04-10-2014, 05:29 AM   #28
BigRedChief BigRedChief is offline
Brainwashed
 
BigRedChief's Avatar
 

Join Date: Dec 2003
Location: Swims with fishes
Casino cash: $8779
VARSITY
Quote:
Originally Posted by doomy3 View Post
You're screwed. If a real estate company is holding the earnest money, and they (the buyers) don't agree to release it to you, then that money will end up going to the state in a year. Neither of you will get it, if both parties don't agree about where the money is going.
The money is with a title company.
__________________
People who think they know everything are a great annoyance to those of us who do.

Issac Asimov
Posts: 43,340
BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.
  Reply With Quote
Old 04-10-2014, 09:18 AM   #29
Bewbies Bewbies is offline
Where's the flag ref?
 
Bewbies's Avatar
 

Join Date: Apr 2010
Casino cash: $6215
If your contract doesn't say "non-refundable option consideration" you're not going to get to keep it.

If you renegotiate, make sure you change that terminology. If your payment has gone up can you refinance and bring it down? I'm a mortgage banker, so I am in this industry.

If you need good counsel call up a few of the best realtors in the area and ask them who they use. You'll get good names from them.
Posts: 6,528
Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.Bewbies is blessed with 50/50 Hindsight.
  Reply With Quote
Old 04-10-2014, 10:00 AM   #30
doomy3 doomy3 is offline
Supporter
 
doomy3's Avatar
 

Join Date: Aug 2005
Location: Lee's Summit, MO
Casino cash: $5910
Quote:
Originally Posted by Tacoman View Post
This isn't necessarily true in Utah, I don't know what Kansas law is in this setting though. In Utah you would need buyers signatures to release funds if the money was held at a title company, but if it was held at a brokerage it would be a conversation between brokers. If the buyers broker (the agents boss) after reading contract came to the conclusion that his clients were the party in breech he/she could release the money without signatures from the buyers.
That isn't the way it is in MO or KS. Both parties have to agree before EMD is released to either party. Furthermore, my guess is that BRC thought it would be a good idea to do this on his own without his own agents, brokers or lawyers involved, which is why he is asking a BB for advice on this.
Posts: 12,461
doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.doomy3 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.
  Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump




All times are GMT -6. The time now is 05:27 AM.


This is a test for a client's site.
A new website that shows member-created construction site listings that need fill or have excess fill. Dirt Monkey @ https://DirtMonkey.net
Powered by vBulletin® Version 3.8.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.