Deal #2 Update: Putting The Pressure On

Scott Costello All, Blog, Featured 7 Comments

The saga continues with Deal #2.  We sent the addendums to the attorney to review early last week and got word 5 days  later that he had forwarded it to the seller to take a look.   It’s amazing how long each and every step is with an attorney involved.  You try and be patient, but after almost 2 months of this crap you have to make a stand.

So on Monday, after talking with our coach, we decided to send the attorney and seller a note that we are going to have to pull our offer off the table.  The deal has taken so long to put together, market conditions have changed and we no longer feel comfortable with our agreed upon price.   We went on to say we are still interested in the property, but would have to re-analyze the property.   We ended our notification with telling the sellers to contact us if they were still interested in selling the house.

Less then a day went by before we heard back from the seller’s husband (We had be strictly dealing with the wife and attorney at this point).  They definitely wanted to sell the house and we should do all our negotiating with him from now on instead of the wife or attorney.  He was unaware that we had been trying to contact the wife for the past 3 weeks with no luck.

Looks like we have an active deal going once again.  The motivation seems there and now that the lines of communication are back open and the attorney is not directly in the middle any more we will hopefully get this deal sign, sealed and delivered Asap!

 

 

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Comments 7

  1. Great approach Scott, and kudos to your coach that’s exactly what you need it to do in order to get some results and keep the deal moving forward.

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  2. Great use of the ‘Take Away’. I even started wanting you to buy it more when I found out you were withdrawing your offer.

    But seriously, I’m glad it is moving along again. I don’t know if it is just me, but things always turn into a big mess when attorneys are involved.

  3. Hey Scott,

    Havent talked in awhile, how are things going. You guys doing flips now or still wholesaling ? The slow response is normal, just have to play hardball and push the people, but if you are wholesaling it gives you that much more time to market the property and find a real buyer, so not always a bad thing.

    If you have some good wholesale deals let me know.. we are usually trying to pick up a few a month for ourselves around the area. If you are doing flips now and ever need help with lenders, crews or anything let me know

    Take it easy
    Jarred

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      Hey Jarred,

      We are still wholesaling. Maybe when we get a steady flow of deals coming in we’ll attempt a flip but not right now with my Job and lack of funds.

      I’ll let you know if anything good comes around. What are you guys looking for in terms of properties? Area, Type and Cost?

      Hope you are doing well! I actually just got an email from James Eichvalds the other day, do you still hear from him at all?

  4. Ha! That’s cool. It’s always good to approach things with an attitude of “I can take it or leave it.” Glad to hear things are moving again, and good luck with it!

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