Remember way back in September, when Val was overruled by Hick and The Pony, concerning a possible new flip house? Which, for obvious reasons, we call Cheap House. Too good to be true. Which is proving to be the case.
In October, we still hadn't heard anything about a closing date. By December, I was starting to think this deal would never be completed.
Last week, Hick went by the financial institution to take out some of HIS MONEY to buy merchandise for his SUS2.5 (Storage Unit Store 2.5) on the day he (deliberately or not) avoided bringing me home a REUBEN. He talked to Loan Officer about what was taking so long to get a closing date.
"He said they are going to foreclose. That the lady can't pay off the judgements against the property that they found in the title search. That one of them alone is over $10,000. And she ain't been callin' me about it lately, either.
Loan Officer says they have to post a notice in the paper. Then it will have to be auctioned on the courthouse steps. That's legally how they have to do it. But once they foreclose on it, the judgements go away. We can't be responsible for any money owed. That falls back on the owner who got foreclosed."
"So we might not end up with it at all? If somebody else bids more than what our offer was, that they already approved?"
"Yeah. I guess they could take the best offer."
"I'm not paying one cent more than our original offer!"
"I know. I'm not, either."
"It won't bother me all that much if we don't get it."
"Yeah. It's a good price for where it is, but I'm not changing anything we've talked about to buy it."
I called The Pony, who agrees that with it having been so much trouble already, trying to acquire this house, maybe it's not meant to be. The Pony is fine with letting it go to somebody else, rather than increase our offer.
Something else will come along. Or nobody else will want this property, and we'll get it for our previously agreed-upon (and approved) price.
Hick and Pony can keep your house in a juggle. Just how bad is this house?
ReplyDeleteThe house looks good from the outside. Just tear off a weak back porch. Hick has been inside, which other potential buyers won't get to see. The lady who was trying to sell it for her brother was there when Hick originally went by, and took him in.
DeleteThe inside is full of old furniture and stuff. It's NOT a stinky hoarder house like a couple other really cheap houses Hick has looked at. I think there's a hole in an inside wall. Hick and Old Buddy can easily tear it out, frame another wall, and put up drywall. Might be a hole in the floor, which Hick can also fix.
The main problem is that the owner can't sell it because of the liens. And the city is treating it like an abandoned property, because it's vacant.
This is the one I said didn't seem like it was worth all the trouble? I'd let it go.
ReplyDeleteI didn't want it to start with, but was outvoted by 2/3 of our partnership! At least Hick has plans to quick-flip it to another flipper, after a cleanout and structural repairs.
DeleteAt least you have come to a conclusion of sorts. The only upside would be if hick bid way lower than his original offer and got it. If it is meant to be, it will be.
ReplyDeleteI don't think Hick would do that, since he made a deal with Loan Officer already, when it was to our advantage, and left them losing about $5000 from what they were going to ask.
DeleteI also think the person who ends up with this house is the one meant to get it. We're not changing our offer. Even though she's not involved anymore, Hick will still pay that lady who showed him the house the money they agreed on to leave him the tools in the shed.