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Old 10-06-2019, 06:25 PM
 
42 posts, read 20,601 times
Reputation: 25

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Quote:
Originally Posted by Silverfall View Post
They have mobile notary services that cost about $150-$175. Why in the world would you take 3 plane rides when you can have a mobile notary come to you for that?

So what happened 80 days ago that you thought your home was worth what the buyer offered and now you think it has appreciated in price?
My sell agent told me that I do not have to be present,I can do online.That was the time when the buyer was asking for extension. it was why I left.Now we found out where I am living do not have such notary service.
No,The selling price is A lot less than what I paid for years ago.

Last edited by warmsurfer; 10-06-2019 at 06:46 PM..
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Old 10-06-2019, 09:45 PM
 
19,206 posts, read 21,207,421 times
Reputation: 28619
Quote:
Originally Posted by warmsurfer View Post
Hi,
I signed a binding contract to sell.Closing date was set.
Then buyer asked for an extension,I agreed and signed.
Then,my realtor told me buyer wants to put the house in his company's name in stead of his name.I agreed,but no paper was signed.
Buyer and my realtor are pushing very hard for closing.
I am not sure what name will the buyer use when I show up for the closing.
My questions are:
The originally contract is voided because name changed ?
Do we need a new contract ?
For some very good reason I want to keep the house.I refuse to go to closing,Am I going to breach the contract ?
Thank s so much.
Why did you put it up for sale if you wanted to keep it?

As for who buys it who cares. As long as the money is good I could care less who buys it
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Old 10-06-2019, 09:58 PM
 
Location: “Be who you are and say what you feel, because those who mind don’t matter and those who
129 posts, read 20,650 times
Reputation: 105
Maybe the OP feels like the buyer is flipping the house before he actually buys it.

It sounds a little like the OP is worried he is not going to be the one who is making the lions share of the profit.

If he sells for $1 million and the buyer flips it for $2 million then technically he lost $1 million on the deal.

Probably not what is happening but its what we just discussed and said AH HA!
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Old 10-06-2019, 11:53 PM
 
Location: on the wind
8,045 posts, read 3,477,661 times
Reputation: 27469
Quote:
Originally Posted by warmsurfer View Post
No,The selling price is A lot less than what I paid for years ago.
So what? The past is the past. Over and done with. You bought property, improved it, and hoped you'd make a profit on it. Apparently it didn't turn out the way you hoped. The buyer isn't at fault because you have seller's remorse. Happens all the time.

There's an old saying: "Act in haste, repent at leisure."
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Old 10-07-2019, 02:44 AM
 
Location: Florida
20,319 posts, read 20,401,651 times
Reputation: 23985
Most banks have a notary and even many insurance offices. No need to sped big bucks for a mobile one.
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Old 10-07-2019, 01:56 PM
 
Location: El paso,tx
2,458 posts, read 933,757 times
Reputation: 3983
The title co can email you docs to print out, you take to a notary (banks, car dealerships, lawyers, title companies all have notaries. Get the docs signed/notarized, and overnight back to title company.
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Old 10-07-2019, 06:26 PM
 
Location: southwest TN
8,258 posts, read 15,185,298 times
Reputation: 15137
I'm sorry, i'm just not with all y'all on glossing over the "name change". It is not a name change, it is a change in buyer.

Buyer A (individual) is not Buyer B (corporation). It is not a name change. A name change is John Smith changing name to J Smith.

As such, I would not be agreeing to this change without consulting a lawyer. It may be that BuyerA cannot get a mortgage but BuyerB can. Therefore, in my mind, the P&S is voided by the buyer - but I'm not a lawyer and a lawyer should be consulted.
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Old 10-07-2019, 06:51 PM
Status: "Hard Money Lender " (set 21 days ago)
 
287 posts, read 71,438 times
Reputation: 577
Quote:
Originally Posted by NY Annie View Post
I'm sorry, i'm just not with all y'all on glossing over the "name change". It is not a name change, it is a change in buyer.

Buyer A (individual) is not Buyer B (corporation). It is not a name change. A name change is John Smith changing name to J Smith.

As such, I would not be agreeing to this change without consulting a lawyer. It may be that BuyerA cannot get a mortgage but BuyerB can. Therefore, in my mind, the P&S is voided by the buyer - but I'm not a lawyer and a lawyer should be consulted.
But at the end of the day who cares? The seller isnít in a worse position. Most PSAís allow for assignment .. in fact the ones I use where I am a buyer donít even require seller agreement. I assign to LLCís all the time once the deal is signed.
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Old 10-08-2019, 09:00 AM
 
Location: southwest TN
8,258 posts, read 15,185,298 times
Reputation: 15137
Quote:
Originally Posted by Spokaneinvestor View Post
But at the end of the day who cares? The seller isnít in a worse position. Most PSAís allow for assignment .. in fact the ones I use where I am a buyer donít even require seller agreement. I assign to LLCís all the time once the deal is signed.
Who cares? Possibly the seller who might have agreed to sell at x-price to buyerA but only because of something special about buyerA and who wouldn't agree to buyerB at any price or because seller is tired of all the delays and wants to not have to go through all the inspections/delays with a new buyer trying to get a new mortgage or because.......... It isn't for us to decide whether Seller should/not agree to an assignment.




Seller has the right to have the sales contract honored. Many PSAs do NOT allow for assignment. That the Seller is being asked to sign an addendum/agreement allowing for the "change of name" (assignment) indicates that the Buy/Sell the OP signed does not specifically state it is assignable.


In all my years as a real estate paralegal, I never once saw a standard B/S that was assignable. I would never agree to sign it as a standard practice.




With all the delays OP has gone through, it sounds to me as though the buyer is unable to complete the sale and looking at a "name change" which is an assignment is buyer's way of trying to get around losing his deposit. Calling it a name-change is deceit. It is not a name change, it is an assignment.
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Old 10-08-2019, 09:20 AM
 
1,412 posts, read 2,121,878 times
Reputation: 1029
Quote:
Originally Posted by NY Annie View Post
With all the delays OP has gone through, it sounds to me as though the buyer is unable to complete the sale and looking at a "name change" which is an assignment is buyer's way of trying to get around losing his deposit. Calling it a name-change is deceit. It is not a name change, it is an assignment.
I know it's a bit of a long thread, but you may have missed:

Quote:
Buyer and my realtor are pushing very hard for closing.
Quote:
For some very good reason I want to keep the house.
Quote:
How much time I can put off for the settlement until they can sue me ?
I don't see how one can come to the conclusion that it's an issue of the buyer stonewalling based on the above comments made by the seller. Plus we don't know if "name-change" is literally what the buyer asked for or just the OP's interpretation of what's contractually being asked for.
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