Do outbuildings go with a property? We had something happen for the first time this month that had to do with an outbuilding located at a property we had recently purchased. It was a great learning lesson, and I’d like to share it with you. The sellers of this house where in distress. They had been relocated for work and had listed their house, but they hadn’t sold it…
We’re doing a property right now that has a propane furnace, so we went to see Ms. Sue over at Calhoun LP Gas. She got me taken care of and scheduled their guys to bring me a tank the following week, weather permitting. As we were doing the paperwork, Ms. Sue noticed I was reading everything and remarked that that was fine, but that it was just their…
The phrase, “One size fits all,” is something that should never be applied to your contracts. It’s very important that your documents fit the individual deal you’re working on. If you get on the internet and get a generic contract, it may have verbiage in it that’s not compatible with the laws in your state. You don’t want that. Each time you write a contract, the situation…
On a recent workday, I walked out of the door of a house we’d purchased the previous week and got into my truck. To quote Peg from the PBS show my kids watch, “Peg + Cat,” “I’m free-e-king out!” When I arrived at the house, we found it was still completely full – as in, the seller hadn’t moved yet. You see, they’d had until the day…
Contract terminations Pete Fortunato has a wonderful way of defining contracts. He says a contract is a memorial of the meeting of the minds. Isn’t that poetic? For us real estate investors, our paper work tells the story of what happened when the buyer and the seller had a meeting of the minds and agreed to a deal. Sometimes I think we lose the simplicity…