"jmcquown" wrote in message news
On 7/15/2017 10:44 AM, Ophelia wrote:
> "jmcquown" wrote in message news
>
> On 7/15/2017 5:45 AM, 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.
>>
> Until actual money changes hands and the deed is handed over ("closing
> the deal"), it's nothing more than a handshake even though it's on
> paper. Either party can back out at any time up to that point.
>
> Jill
>
> ==
>
> Thanks. When we have bought houses, we have never had to sign anything
> until the deal is completed.
>
> Once signed, it is a done deal.
>
Sadly to say, the US loves to involve attorneys, real estate agents
(buyers and sellers agents) and all sorts of paperwork. That's before
the actual deal. Your method sounds so much cleaner and easier.
Jill
==
I would bet yours is much more expensive too
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