So I just spent about two years trying to get a deal across the finish line that’s finally going to happen.
Right now we got a deal, it’s about to close. And what happened was we got this deal about two years ago from pay per click. And it was in Del Rio, Texas, we had it under contract, we were ready to go and assign it for $15,000. But what ended up happening was that the seller had to go through probate. And there’s a lot of issues because the guy that passed away, he didn’t do the paperwork correctly, or whatever you want to say he tried to leave it to his family, but there’s a lot of issues. So it’s been about two years of trying to take this thing to the finish line. And finally, we got something. But the problem now is that the real estate market since then, has gone down a little bit, and our fee of what we believe we’re going to make, it’s not as much as we thought. And I’ve had to wait two years. And I’m actually pretty much doing this deal. After all the work I’ve done for free. But hey, this is a call right here that I have with the title company, just to show you how to navigate this title company and how to work with them. The way we had it set up was the title company. And we’re just going to actually assign this deal. But you know, there was, we had an agent involved, and there was some miscommunication. So now I have to call, the agent that is bringing the buyer and negotiate the fees is kind of a mess. But anyway, I just want to show you guys that it’s not always rainbows and sunshine when you’re doing deals. And this one that took two years, well, let’s see how it goes. Want to talk this title company and see if you can learn how to navigate this situation from my experience. So
I started to email the agent for the buyer. And I was like, Hold on, I was like before I send this email, let me look at the contract. Okay. So on the contract that they signed, I guess from Utah Home acquisitions to the buyer, it shows it the sellers paying for the policy.
The closing costs are what are
the title insurance. And there’s nothing in there that you know, buyer will pay all of sellers closing. So I know, you know, again, last night, I received an email from the buyer’s agent just saying like, Hey, why are there additional charges? So I kind of wanted to get with you first before I respond to him? Because I don’t know. You know, what conversation was had with him in any?
Yeah, I’m assuming no. Well, so I’ve been kind of out of this, because I had the my partner was on the phone, like did most of this, but he probably had the agent do most of the conversation. So I’m sure our agent knows, and she probably didn’t set it up the way like, it should have been set up through. You know, I don’t know, like, again, I’m just coming in late. So yeah, if that’s what you’re saying? And they’re like, Nah, we’re not gonna pay that. I guess that takes away a little bit more what we’re gonna make again, you know,
yeah, and again, I mean, I don’t know, you know, if you want me just to do it, like do a credit, or you want me to tell him like, hey, you know, maybe you need to talk with whatever to see if you’re, you know, to agent, or I don’t know, Cory or yourself. Maybe y’all can work something out. I mean, it’s just, I don’t want to tell him to contact y’all. And you’re kind of I mean, it’s kind of like, Nope, just, you know what I mean? Yeah, right.
Right. So what are the extra costs that they’re saying that they shouldn’t? Is it all the 2000? Or what was it?
Yeah, it’s like close to 2000? I think.
So they’re saying like, we don’t want to hear that.
Yeah, it’s gonna be the title policy recording fees, because I know on again, y’all contract with Victoria, to Utah, y’all, we’re covering all of you know, sellers, closing taxes. And I think the only other thing they were covering was, you know, mobile notary fees, and
yeah, our contract. I don’t think we take care of taxes. I think it takes care of closing costs, but I think the taxes are prorated?
Yeah. So again, I mean, the taxes are prorated, and whatever’s passed. Do that’s all on the seller side. But I again, I don’t I don’t want to tell him like, oh, you need to contact them.
Yeah, I’m totally cool to talk with them. I just got to figure out like the plan of action of what we’re going to do. So it’s a so it’s an extra 2000, about 2000 that we would have to eat. Yeah. And so that would bring what we’re making from down by 2k. Unless I can talk to them and get them to pay or call the seller and be like, hey, look, this is getting a little bit more pricey than we thought. Yeah. So those are the options but they’re like, Nah, we’re not going to do that. Is that what you’re saying?
Yeah, and again, I don’t know if it’s more so the buyers I know it’s their agent. I’ve I know I’ve talked to the buyers. I talked to him once and I know The agent’s like, hey, we want to close? And I’m like,
Yep, we’re getting there. Yes, yes, I totally understand that.
You know, I know I had let the sellers know I had put a few of them on notice that I could email but I also don’t want to start calling them to get people scheduled until it’s all worked out.
So is that is that the only thing that’s pretty much holding this up? Is this 2k?
Pretty much at this point. I mean, but again, I don’t know if that’s something you want to negotiate.
I’m always down to negotiate. Yeah, that’s yeah, that’s kind of the issue. Like when there’s so many people involved, right? It’s like, you don’t really know what’s you can check everything. So yeah, thanks for being so cool about this. So I guess my options are talk with the buyer and just hash it out or call on Victoria, and just tell her kind of what’s going on and see what she’s thinking. Yeah, I mean, because either way I have to sign we’d have to do an assignment with the buyer. And we still have to do a new rep. See, you know, oh, no, an addendum with Victoria. Right? Yeah.
That would just be extending the closing date, and just adding everybody you know, that’s gonna sign as a seller just as sellers on the contract.
Okay, Ken, do you mind texting or emailing me like everything like those two things I need to do and the actual, like, what the cost? I know, it’s about 2000. But if you could tell me the cost, and then what I would need to get them signed, and then I’ll take care of calling the buyer out call Victoria, we’ll just we’ll figure it out. And could you do that for me?
Yeah. Give me just a few because I gotta send one over, and then I’ll work on that one. Okay.
And then if I can get this all done today, or tomorrow, when would the clothes look like when would we be closing? Because they’d all be like, Okay, if we do this one, when can we get this thing done?
So that’s the thing, since there is so many sellers. I know everybody’s schedule is crazy. I know Victoria was off this week. So she, her and her husband are able to come in. And again, her sister in law lives like in my area, as long as I can run over there and then run back. We should be good. Yeah,
I’m not I’m not in any rush. I’m not in a huge rush. It’s just been it’s been two years already. So for me, it’s like, you know, just to give them a timeline, right, because they’re gonna.
Other issue is, I think there’s three family members in Del Rio, one in California, and one in like, Missouri or somewhere.
I love it. Wonderful. Before we send a note, you know, it’s interesting, isn’t there? Like, just like, 20. At the moment, there’s like, $21,000 that they would all split. This is right. Like this is barely worth anyone’s time,
right now. To be honest, they’re not even getting that much now. I think after it all, like everybody has a setup percentage. Yeah, I think it literally comes down to like, everybody’s making a few 1000.
You know what, yeah. So I’m gonna call the buyer, I’m not gonna try and renegotiate with them just because like, look, there’s like nothing left. I just wanted to recoup my costs for doing this for two years. And so can you also give me the buyer’s INFO? Or would I have to deal with through the agent?
To be honest, it’s probably best to go through the agent. At least just let him know, like, Hey, do you mind if I contact your buyer? And just kind of tell him what’s going on only because I know this agent in particular, I’ve never worked with him before, but it seems like he’s pretty like he wants to be on top of it.
Okay. Yeah, so let’s do this. Just send me the agent’s information. I’ll call them I’ll explain the situation. And you know if they can, if they can split it if they can do it all you know, I’ll go I’ll go the route of hey, can you just do it? You know, the no one’s making any money? And then if not, we’ll split it and then we’ll from there, okay,
yeah, give me just a few and I’ll get that agent’s info I’ll let you know the cost for everything extra and then what else is needed as far as addendums and the assignment and kind of go all shoot it all over in an email to you beautiful thank you.
You’re welcome. So hey, if you’ve thought this content was helpful, follow me for more information so I can show you the live the real deal, the rawness of doing deals, nationwide wholesaling, fix and flipping. Let me show you how to do it. Call me for more info.
