I read your OR post. you are a complete total MORON.. when he wouldent let you on the property to look at it.. THAT WAS YOUR SIGN.. TO GET THE HELL OUT.. you fugged your self. he gave you plenty of warnings..
Not much can be done before Monday. Go fishing or some other distraction, no need to tie yourself in knots when you have no control at this point. With wife in the business, even if not a property attorney she should know someone if it comes to that. Sounded like they guy was a little odd from initial contact, as written. his odd behavior now may just be who he is. Also sounds like you may have damages, loss of 1031 benefits. Was seller aware of the 1031 implication?
He could probably pull off a contingent memorandum of agreement with the owner of that land the seller wants to buy.
-OMotS
"If memory serves fails me..." Quote: ( unnamed) "been prtty deep in the cooler todaay "
Television and radio are most effective when people question little and think even less.
Hubert, "I read your OR post. you are a complete total MORON.. when he wouldent let you on the property to look at it.. THAT WAS YOUR SIGN.. TO GET THE HELL OUT.. you fugged your self. he gave you plenty of warnings.."
Thanks for the kind words. If you read my post you see, I got to look at it once with him and once with my wife on the same day. He didnt want me coming back out to his land as it upsets his wife when a car comes down the road she doesnt know. He has been very honest and upfront. I have done many land deals. I have bought many things. I also bought a house that I live in for $600K I got to see it once with a realtor and once during inspection. People dont let you come and go as you please all the time. Some people have issues.
I just never had anyone pull back on the day of closing. Also it is his family land not hers. Where I live this land is impossible to buy. Its been tied up for over a century.
SO despite the trailer park you probably live in people dont just let you hang out on land you are going to buy all the time people have issues his wife obviously does. I hope she signs Monday if she doesnt I will unleash legal hell and be tied up for many years to come in a lawsuit.Me myself, I have sold over 12 tracts of land that I purchased. I fix farms up and sell them thus the 10-31 but I never had anyone back out on closing day.
I value others perspectives and how they would approach things. Everyone has a good point to make without name calling.
H5, good luck with your deal- - - -I sincerely hope things work out without having to get the legal beagles involved any more than necessary. This place is full of keyboard commandos who don't have a pot to pizz in or a window to throw it out of, because their mama's basement where they live doesn't have any windows. Their advice is worth exactly what it costs you to read it! Jerry
Follow the contracts rules in your jurisdiction. I will also suggest your wife is potentially conflicted out for writing paperwork like she did. NOT a good idea. Read your purchase and sale agreement carefully. That document is THE deal.
Blue, you just said a mouthful there. I have to agree and was thinking same.
If he hasn't lied to you yet, I think he'll sign monday. A court would not make a person transfer title to you, but im sure your wife has mentioned specific Performance, damages, erc. He'll sign.
Really? You cannot enforce a buy/sell contract? That is the purpose of a contract I thought.
No, the contract defines the terms of a sale and typically addresses failure to perform. Ive never wncountered where a court forced someone to sell, black book of law would note but im not going to look it up.
As a note if the timber was sold it would need to be disclosed as an encumberance/lein against the property.
Be Polite , Be Professional , but have a plan to kill everybody you meet -General James Mattis United States Marine Corps
Fishy Fishy Fishy deal all the way around. Wife doesn’t like strange cars? BS. Not allowed to drive by the property? More BS. No show at closing? BS. Tick bite? Major BS. Run away from this deal is my opinion.
The farm I currently own had unpaid greenbelt taxes that were missed by the title search . The policy that is purchased for such occasions took care of it (about $9k with penalties accrued). We found out then you have to pick up the phone and call to check for that particular type of unpaid taxes. Maybe they couldn't close yet for some reason they didn't want to disclose. As already been said, it may be a good thing if you don't get it and you'll find a better deal, look back on this one and be glad it didn't work out.
FUGK CCP
It’s time to WAKE UP GOD BLESS THE USA WWG1WGA THERE ARE NO COINCIDENCES
Dad made his living with apartments. As a result, I grew up in a house with a lot of real-estate stuff flying in the air. That does not make me an expert by any means, but it does give me at least an emotional cue. After growing up with it, you learn when dinner's going to be peaceful or a $hitstorm. You learn to guess whether the deal is going down or not.
My gut reaction to this is much like the others. The seller's wife is the unseen force driving this thing to go sideways.
Given that the purchase of their new property is contingent on the sale of this, the seller has his balls in a vice. He's going to have to sign or else his house of cards is going to fall. I saw this happen once with a neighbor that was over-extended on his real-estate deals. He damn-near lost the whole kaboodle and this would have undoubtedly triggered a divorce as well. $325K in hand is a powerful incentive.
BTW: before I go further in this, let me just say that when Dad would get a situation like this, his normal instinct would be to walk away from the deal. I'm not saying this is the best way to go; I'm just saying Dad's way of looking at it was that once you see a fin in the water, you get out. You don't wait to see if it is a shark. Mom was, even more, this way, but her reactions were always based on honesty/dishonesty. She would not deal with deceit.
Let me just throw a possible motive into this. This is one I've seen happen. I was involved in a version of this scenario with my ex, Satan, but the motivations were reversed. Seller's wife (we'll call her Jane) has property that has been in the family since 1920. That's easily a pre-marital asset. Seller (Bob) wants to sell it off and move to the big new place nearby. In the midst of all this, somebody whispers to Jane that if she allows the sale of the property, then she loses her pre-marital asset designation on the funds and the whole thing goes into the communal property bucket. Things may or may not be completely kosher in their marriage. Bob may or may not be motivated by this. However, Jane may begin to think Bob is making a play to get half the value of the family farm.
Me? I found myself about 2 years before my separation from Satan going to house showings for no good reason. Satan kept pushing to move even when the house was not as good as the current one. The reason became clear when we separated. I bought the house with assets I'd brought into the marriage. She had not put in a dime. She'd been gunning for the pre-marital assets I'd thrown into the current house. If we bought a new house, she'd now have claim to half. It all came out in our divorce. She kept trying to get what was obviously pre-marital assets assigned to her. Since then, I've seen versions of this show up in other divorce fights. Somebody must have written a book on it. This may be Bob's gambit. Jane may have figured it out.
I'm sorry that you got played like a fiddle.
FUGK CCP
It’s time to WAKE UP GOD BLESS THE USA WWG1WGA THERE ARE NO COINCIDENCES
My wife writing the paperwork has saved us thousands in realtor fees. She also prepares the 10-31 paper work which saves me thousands.
If we have to go to court she would never represent us anyways we would use a lawyer who is verse in contract and restate law. This is not my wifes area of law and lawyers usually dont venture into areas of the law they dont routinely practice.
Sometimes you have to take the good with the bad. I am hoping he talks to his wife and she signs Monday. If not they will have 3 people suing for breech of contract. He sold land to two people and bough a piece all the deals close in the next 8 days. Plus the title company said they will sue him so I hope common sense sinks in.
All I can say after reading this whole thread is- if you've been a member here for long or just a lurker, you know that tossing this kind of question is a little like throwing raw meat to a pack of dogs. You aren't going to get rational advice on this forum regardless of what the intention is. You can see by the responses that they are all over the place from lynching to wait and see.... it really wouldn't be any different if you asked what was the best rifle, best cat, best dog, how to train a [bleep]- everybody is going to throw their two cents' in and apparently some is more valuable than others...
Best advice I've seen on this whole thread is to go fishing or something to distract yourself as nothing is going to happen before Monday anyway and it sounds to me like patience is going to pay off in the long run... if not, it sounds like your guns are loaded and you have the experience to deal with this situation just fine so ignore about 99.9% of the advice on this thread including this one.....
Bob
Never underestimate your ability to overestimate your ability.
Call your title company right now, if you have contact info or leave a message for them to call you ASAP, and ask them to call him and request he give the title company POA to close on this transaction for him, so the seller doesn’t even have to come in Monday. If he’s willing to, they will come to his house with a notary, to sign the POA paperwork. Over and finished with.
If he won’t, have your wife file the lis pendens today online, to put a boat anchor on him being able to complete his sell of the 100 AC or the other 80 AC property, and to be at the front of the line ahead of the title company, and the other party (you said three would sue), to collect on your judgment you’d win in your suit. Don’t tell the title company you plan to do this. Paperwork to retract the lis pendens can be drawn up to be signed at closing if he still shows up Monday.
He can only have homestead protection on ONE (1) property (100ac or 80ac - if that’s all the RE he owns), so in your suit win, the unprotected one will be able to be foreclosed on to satisfy your judgment.
If he breaches your contract and sells to someone else, you might be eligible to sue the third party under the Tortious Interference torts depending on their actions, but selling would be difficult with the boat anchor on the title, but there are fools born every day who will make an uneducated purchase without a title search.
You stated the three closings were to be completed over the next eight days, so I assume yours was hopefully first, and the 80AC closing has not transpired, so you need to position yourself at the front of the line to collect on a judgment ahead of the other two parties.
Good luck.
"He is far from Stupid"
”person, who happens to have an above-average level of intelligence”
