CRE Cray-Cray Kicked To A Whole New LEVEL!

By
Commercial Real Estate Agent with Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker AZ BR 528507000

When the first words out of someone's mouth are

"I just don't want to get screwed again . . ."

 

you KNOW 'esh a mumu'  . . .

Oh, these poor, poor people.

 

They came to one of my lease offerings with a sob story . . . they had bought this wonderful property in a neighboring county and the former owner somehow stole it back from them.  

 

Okay. Sad. But beyond my paygrade. 

We want this property. OK. We sign a lease.

 

Right off the bat . . . they arrive without deposit and rent. Uhhh, we can't give you keys without the money. Well the money's in Vegas . . . well go the heck to Vegas and GET IT!

 

 

They do, and so it begins.


They tell me that to do what they want to do at the property, they need to have the parking lot resurfaced per City. "We'd like to do this on our dime and have the landlord give us rent credit monthly for a year  . . . "

 

I tell the owner, NO! It is better if YOU do it and they pay rent! This is a bad idea and they already tingled my Spidey senses not showing up with money at signing in the first place.

Owner said no, that would work for me as he is improving my property and I am showing no income for a year . . . Okay, it's his property. 

 

Tenant produces contract with paver with a payment arrangement. OK . . . but I want copies of those checks to provide owner as proof of you keeping up your end of the deal.

 

Every month for 14 months I get a copy of a check . . . but no work is being done. And every month it is "Oh, John is on his honeymoon, John is out of the country, John is sick but we're starting next week."

 

We finally get sick of it and contact John. Tenant never paid him a dime and that's why the work never began! Tenant was sending me copies of checks but then never paying the paver! 

 

OK owner, we need to evict them. Owner says no . . . we need to sell to him! I will carry the note, I want (large down) and we will tell him either buy the building at our price or out. Again I tell owner noooooo he will default. "Fine, I will get my money for the rent he didn't pay me and sell it to someone else."

 

And that's exactly what happened. BUT NOT UNTIL just before we were getting ready to close, there was a mysterious FIRE at the property. LOL yep, and investigators found it 'suspicious but inconclusive'. Insurance remediated and restored, and the 'now buyer' wanted the insurance money so HE could do the work (he was a contractor BTW) and we all said NO WAY! LOL

 

It did close with the buyer, he paid payments for a year, then defaulted. Owner got all his money and then some, sold it to someone else who is happily ever after along with the owner. 

And we learned that the previous property out of town . . . that seller didn't steal it back. They defaulted on that one too!

 

This was all over the course of 2 years. 

 

So when they lead with a sob story . . . just know that it will be the gift that keeps on giving!

 

 

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Rainmaker
3,861,317
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good evening Candice A. Donofrio ,

OMG..I'm glad the seller came out smelling like a rose..it could have been so different if you weren't there guiding him through the process.

Dec 02, 2019 05:30 PM #1
Rainer
481,792
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Just crazy enough to win this December Challenge.  What a story!

Dec 02, 2019 06:35 PM #2
Rainmaker
816,600
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Yeah, those sob stories are often the ones that bite in the butt...till you learn that is the case and yur spidey sense says NO WAY.

Dec 02, 2019 07:04 PM #3
Rainmaker
3,699,129
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Candice. Sounded terrible from day one.......Oh well.......NEXT.

Dec 02, 2019 09:23 PM #4
Rainmaker
1,472,315
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Wow, what a story! You're right, if they start off with a statement such as that one, beware!

Dec 03, 2019 06:10 AM #5
Ambassador
839,955
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

It's words like that that make you want to run. As a Christian, I cringe when the first sentence or two out of someone's mouth is "I'm a good Christian." Something is usually about to smell fishy Sounds like your gut was on fleek. People are crazy.

Dec 03, 2019 08:50 AM #6
Rainmaker
1,372,631
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Candice,
I know your stories are too crazy to be fake.  I'm sure you have a couple dozen more you could share.  Keep 'em coming. 

Dec 03, 2019 10:34 AM #7
Rainmaker
530,870
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

Oh good grief!  That is nuts!!

Dec 03, 2019 04:15 PM #8
Rainmaker
577,845
Gwen Fowler-CRS- 864-638-3599 SC Mountains & Lakes--
Gwen Fowler Real Estate, Inc - Salem, SC
Gwen Fowler Real Estate, Inc.

I am so glad it finally worked out for the seller. if it starts ut with a sob story or a "deal that can't be beaten" it is better to run, not walk, away quickly. 

Dec 05, 2019 09:33 AM #9
Ambassador
2,915,261
Anna Banana Kruchten CRB, CRS
Phoenix Property Shoppe - Phoenix, AZ
602-380-4886

OMG Candice A. Donofrio you are cracking me up with this story - keep em coming!  I needed another laugh break from my elfing duties!

Dec 06, 2019 10:25 AM #10
Ambassador
928,091
Lynn B. Friedman
Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ... - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Candice A. Donofrio 
Imagine if they dedicated that energy to being honest ...
All the best - Lynn

Dec 06, 2019 06:20 PM #11
Rainmaker
641,516
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Was his name Jeff??  They sure can come up with some wild excuses and creative ideas to not pay for what they agree to....

Dec 07, 2019 12:15 AM #12
Ambassador
2,915,261
Anna Banana Kruchten CRB, CRS
Phoenix Property Shoppe - Phoenix, AZ
602-380-4886

OMG unbelievable story but it's so crazy it's true Candice A. Donofrio . Boo hoo sob sob waaaa waaaaa waaaaa....time to make our get-a-way!  

Dec 07, 2019 11:40 AM #13
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Candice A. Donofrio

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