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Well, we almost had a closing today...

By
Commercial Real Estate Agent with Contour Investment Properties

Except that the seller, a bank, decided at 4pm to contest the lien placed on the property by the homeowners association. The bank foreclosed on the property 5 months ago, and the lien has been on the property since foreclosure. Why did they wait until 4pm on the day of closing? Who knows. The title company says it's a valid lien, and the treasurer of the HOA confirmed the amount, again, today.

Sigh.

Perhaps we'll close on Monday. My buyer remained in good spirits. He is getting a GREAT deal on the house, so I suppose it comes with some hiccups...

 

Posted by

Tim Bradley
Owner/Broker
Contour Investment Properties
172 Center Street, Suite 200
PO Box 1152
Jackson, WY 83001
(307) 733-6400
www.contourproperties.com

CCIM logoTim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute.

Comments(6)

Stanley Stepak
Howard Hanna - Avon Lake, OH - Avon Lake, OH
Realtor - Avon Lake, Avon, Bay Village, Westlake,

You are right those great deals do come with a few bumps but it will be worth it.

Jun 03, 2011 04:30 PM
Linda Graves Arnold
Coldwell Banker Gundaker-St. Louis, MO - Chesterfield, MO
St. Louis Real Estate Pro - 314-422-2762 - Referr

Luckily, your buyers weren't homeless and are able to wait out the bank's antics.  How frustrating.

Jun 03, 2011 04:31 PM
Emily Medvec
eXp Realty LLC - Santa Fe, NM
Broker | Realtor | Serving Santa Fe & Northern NM

They wait because they can and you certainly have patience.

Jun 03, 2011 04:51 PM
Nor Yeretsian
Envoy Capitol Realty Inc. - Toronto, ON
Envoy Capitol Realty Inc., Brokerage Toronto

It just wouldn't be the same without the challenges - right.

cheers

Nor

Jun 03, 2011 04:58 PM
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

I hope it closed.   Those investors!  You never know what they will do at the last minute!

Jun 04, 2012 08:08 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!
Hi Tim, hope this deal closed. With the positivity being shown by your buyer, I'm confident things will turn out ok. All the best.
May 26, 2013 02:25 PM