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jmcquown[_2_]

On 7/15/2017 11:54 AM, wrote:
> On Sat, 15 Jul 2017 10:29:55 -0400, jmcquown >
> wrote:
>
>> 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
>
> How many houses have you bought? Once you have signed an offer to buy
> there are only very specific things which allow you to back out
> without penalty.

Maybe in Canada. In the US, until the actual "closing", anyone can back
out.

> One would be inability to raise a mortgage,

Of course.

> another
> would be a failing house inspection, such as the well not delivering x
> number of gallons per minute etc.
>
Wells? Gallons per minute? Most houses in the US don't have wells.

He's already said the house didn't pass inspection. That's why he's
pouring money into a house he does not yet own. And that makes no sense
at all.

Jill