What is going to happen? My third post, an entrepreneur this week, is really nice to see all ...

What is going to happen?
My third post, an entrepreneur this week, is really nice to see all your favorable responses and responsiveness 🙂
So today I will talk to you about the walk through, the last passage through the property before closing.

An interesting story that happened to us this week, a painful story but with a good salary morality.
We are in the process of buying a long-term rental apartment, a deal that has been repeatedly rejected because of the holidays in the US and because of such and other surprises. Finally come close with all the required documents and certificates.

But before ...

Make a last visit to the property, make sure nothing has changed from the last time we were there (four days before).
You have the right as buyers to make sure that there have been no changes from the period you approved the contract (if at the end it was checked or already at the signing point if there is no checking period), "walk through".
The desire is always to get as close as possible to the closure, because as you will see, a lot can change.

You come to the property and see people inside the property from the window, a couple entering the apartment, partial furniture already inside, living for them…
The first step is to invite the sheriff, as a colleague published a few days ago, is not customary to enter the property with strangers inside, a lot can happen ...
After a few hours the sheriff arrives and asks for explanations, the husband, unexpectedly, takes out a contract, signed with the alleged owner on a one-year lease.
Of course, a language the sheriff can not go any further, the contract must be checked and a warrant issued or even a full eviction process from A to Z that can come to trial.

So what happened there?
In the United States there is a plague of rental bites, where the stinger reveals the code to Lockbox or gets access to the developer, publishes the apartment and shows it to customers interested as your representative. Sign a contract, get a deposit and rent for one month or more and poof ... .. disappeared.

Just a few kilometers away, the money goes to the Teitel company and everything looks normal, but the Teitel agent has already been ordered not to close, the seller fails to execute the contract and the deal is passed on to the baby.

Sucks?
really. An amazing numerical deal that is probably going to the trash or at least postponed for a long time, the seller insists on solving the problem himself and not let us worry about the evacuation of the couple in the apartment in exchange for a discount on the purchase of the house.
But ... the problem is not ours, it's the key point in the story, and the moral of the mind to other investors. We have no costs, a lot of hassle and attorneys, all is well, the sky is blue - we did not make a profit but at least we did not lose, another deal is found.

Making a final check is an important process in your purchase process. The right to do so exists in most existing contracts and must be included in each contract in self-preparation.

You will insist on making an investment one last time as close as possible to the signature status. This is your last chance to make sure of your purchase.

Have a great week's rest!

Michael Salkind