Investing For All The Wrong Reasons!
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We took a call on Friday from a women who was extremely mixed up. She is closing on a home located in Summerfield, Florida and actually believed that the builder was going to re-purchase her home prior to closing! She was worried because in three weeks she's set to close and does not have the funds.
The builder recommend that she call us for help. I tried to explain the builders job does not entitle repurchasing what they just sold! Builder would go out of business if they did what she was requesting.
She asked me if we would purchase her home and again, I explained that we either could rent or sell her home, but we do not buy homes from clients.
Investing in Real Estate is a serious business and you would expect that a person buying a home knows that before they ever get involved with investing.
This particular individual should have never looked at investing unless, she was prepared to close.
The Conversation is as follows:
Misinformed Investor: So who's going to buy my house from me? I can not close?
Me: Technically, you do not own the house yet, the contract is not assignable.
Misinformed Investor: When I bought the home my Realtor told me that the Builder would buy my house back from me!
Me: Maybe you should ask your Realtor to buy back the home, theyave you the wrong idea!
Misinformed Investor: We can not do that he's our nephew! I need help, who's going to buy back my house?
Me: We can either try to sell the house or rent the home for you! We can not do anything until you take ownership of the house, which means you have to close!
Misinformed Investor: I'm going to hire an attorney and sue the Builder! They'll buy my house from me than!
There was not much left to say, except wish this person the very best in solving her dilemma.I do hope next time this so called investor does not listen to her nephew!