"Cindy Hamilton" wrote in message
...

On Saturday, July 15, 2017 at 5:45:23 AM UTC-4, Ophelia wrote:
> "Bruce" wrote in message
> ...
>
> On Fri, 14 Jul 2017 23:03:55 -0700 (PDT), John Kuthe
> > wrote:
>
> >On Friday, July 14, 2017 at 5:22:26 PM UTC-5, Jill McQuown wrote:
> >> On 7/13/2017 8:25 AM, Gary wrote:
> >> > Janet wrote:
> >> >> says...
> >> >>> And my housemates love me so much as their landlord they gave ME
> >> >> their July 2017 rent checks rather than our cheap Chinese landlord!
> >> >> (I
> >> >> just deposited those checks too, today!)
> >> >>
> >> >> Just wait till the Chinese OWNER of the property finds out
> >> >> HIS
> >> >> tenants didn't pay HIM their rent this month.
> >> >
> >> > I was thinking the same thing. John is not the owner yet and the
> >> > chinese
> >> > owner gets the rent until then.
> >> >
> >> John is delusional if he thinks he's already their landlord. He's not;
> >> they aren't John's tenants. What part of [he] doesn't own the house is
> >> so hard for John to grasp?
> >>
> >> > This really does sound like a fail-fail situation. Maybe John should
> >> > stop right now, swallow his losses and go look for a better house to
> >> > buy. This entire deal with all the future repairs sounds so not right
> >> > to
> >> > me.
> >> >
> >> > No sane person would ever fix up a house until after closing and they
> >> > own it. The chinese landlord is probably loving all this insane
> >> > nonsense.
> >> >
> >> > John...he could even cancel the sale after you spend half your
> >> > fortune
> >> > fixing up HIS house. Wake up.
> >> >
> >> He sure could. You can bet he's keeping an eye on everything that's
> >> going on in that house. In fact, as the legal landlord, he has every
> >> right to enter and look around the property. He could take one look at
> >> these improvements and decide he doesn't want to sell. Until closing,
> >> he can back out at any time.
> >>
> >> Jill
> >
> >Oh and he does whenever he wants. But he;s out of town right now.
> >
> >WE have to do these things to close the sale and then he and his partner
> >get $108,000 cash. If the sellers back out after I've paid to have all
> >this occupancy permit inspection stuff brought up to code I'm sure I'd
> >have
> >a very good case for a civil lawsuit against them. They signed the sale
> >contract too after all!
>
> But isn't it strange to collect rent for a property you don't own yet?
>
> ==
>
> If they have signed the sale contract, does that not indicated they have
> sold it to him? Not sure how it works there.

They've signed a contract that basically states "I'm going to buy this
house" and "I'm going to sell you this house", and states the terms
under which the sale will proceed (timing, condition of house at
time of sale, results of a title search to determine that the seller
really is entitled to sell the property, etc.)

If the terms of that contract are not satisfied, the contract is void.
One example of that might be if the title search discovers an undisclosed
lien on the property and the lien is not released by the sales
contract.

The actual transfer of the deed to the house happens when all of
the terms of the sales contract are satisfied. Then everybody sits
down, exchanges the money, and the title deed is transferred
from the seller to the buyer. This is commonly referred to as
"closing".

Cindy Hamilton

==

Thank you. It seems it is too easy to renege on that contract if one
side wishes.



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