Seller Causing Problems On Closed And Sold Deal
Hi,
I bought a vacant property a few months ago, and turned around and sold it a month later. I specifically told the seller (via email...which I have saved), that this was an "investment" for me. I also build spec homes, and at the time, I wasn't sure if I was going to build on it for a spec, or sell the property.
Well, property in that area skyrocketed in that month's time, so instead of waiting to build on the lot, I sold it.
Now, 4 months later, the Seller is "investigating" me, but calling the title companies, my ex-employer, etc. He also wants to "meet with my attorney and me" to discuss "misrepresentation of my intentions" of buying the property.
I feel this guys is stalking me....during and after the sale, he continued to "want to meet me"....and it was not to walk the property, etc.
Now....my question is....I did not tell him (nor think I had to tell him) that I buy and sell property and build homes. He called me from I letter I mailed to him stating what I was willing to pay for the property. After his initial phone call to me....he wanted more for the property, and I agreed. He also stated in several Emails that he had spoken with attorneys, accountants, etc...because he facilitated a 1031 exchange for the property.
Do I have anything to be concerned about? Or is this guy just "sour grapes" because he found out I sold the property for a higher price than I bought it for???
:-?
Nothing to worry about. He's just pissed that he missed out on the appreciation. Ask him what he wants by stalking you and if he demands money, then tell him thst you will issue a restraining order on him.
Unless you are a LICENSED Real Estate Salesperson or Broker is the only time you have to tell someone what you do for a living, because being licensed implies that you are an expert and may hold an advantage over someone. Zoning will control what you will put on a piece of land and no person can control whether you sell or build on the land once you own the rights to that land.
Are you from Florida, I know land in Florida is appreciating like that. If you do, it is probably some old geezer who has nothing to do all day, but try to control other people. I have that alot where I live in Florida.
I am not a Real Estate Agent.....(that's another thing...he started calling the title company asking if I am one....and accusing me of "fraud"
.....and I didn't even do a "double close", subject to...nothing....he got his $$$...through the title company fair and square.
What really upsets me, is that he is trying to interfere with the business relationships that I have established...and falsely accusing me of misrepresentation....and something about "California Community Property Implications". I am an unmarried woman....sole and separate. I can't figure out where he's coming from on that.
Thanks for your replies...if anyone else has had any "run ins" with prior sellers, I'd love to hear the results and/or actions taken. Thanks!
Sorry it happened to you, but it does happen.
He's most likely teed-off that you made a buck off his property.
Spend some of your profit and have your attorney contact him and ask what he's up to. A restraining order is not a bad idea to threaten him with. It will turn the tables around on him.
Just for clarity, when you buy a property you do NOT have to tell anyone what your plans are. If I'm asked by the seller, I usually say "oh, I think it would make a nice rental, don't you?" I'm not saying I'm going to rent it out, but it gives the impression I am.
I'll throw this out here too, since it's related. If I buy a house for a nice price and I am going to turn around and resell it, I'm careful how I go about it.
If the seller is moving out of state, then I will use a sign and the mls, etc. If they are just moving across town, I'll quietly market it and I'll usually do some obvious cosmetic work, like a paint job, so if the seller finds out, they at least see I 'improved' it. I can legally do whatever I want to, but it's just a courtesy thing.
Good luck!
As long as your attorney advises -
RESTRAINING ORDER!
Well, now the full update to this point is that he sent me a 12 page E-mail full of accusations, is demanding the "difference" of the money...and he's threatening to turn me in to federal and state authorities for "money laundering". I think I have a quack on my hands....and I'm waiting now for the attorney's call back to make an appointment.
In all of the written correspondence I have between him and I in regards to the sale, he is off his rocker to think that he didn't willingly sell me his property for the specified price, and the other accusations are all so false that I am completely confident that he doesn't have a leg to stand on.
Just a lesson learned...be careful of quacks!
What happened?
I think it is still legal to make a profit in this country. That communist system that everyone forgot about, wasn't that the one where you couldn't? I too, would be interested to know what happened.
If he was in foreclosure and lived in the property at the time you purchased the property, you may be in violation of California Civil Code Section 1695.
It looks like you have nothing to worry about. Take a hard look at your demeanor when dealing with him. Because you are a woman, he may feel he can wear you down with intimidation. Just stand up to him. If you have nothing to worry about legally, turn it around on him, get your lawyer to get mean with him. You shouldn't have to put up with this. Really, I think he is mad at you because you are smarter than him.
It looks like you have nothing to worry about. Take a hard look at your demeanor when dealing with him. Because you are a woman, he may feel he can wear you down with intimidation. Just stand up to him. If you have nothing to worry about legally, turn it around on him, get your lawyer to get mean with him. You shouldn't have to put up with this. Really, I think he is mad at you because you are smarter than him.
Thanks for all the posts! I went to an attorney on Wednesday, who had reviewed all of my documentation, correspondence, etc. with this man, and said that the guy is a nut case. He actually used words (in his 12 page email) that referred to "terrorism, tsunami, etc. etc. etc."
However, I have not heard a word from him since the 12-page Email, which makes me think he has either backed-off (doubtful) or is lining up legal action. If it is the latter, my attorney said that we would confidently defend ourselves, and then sue for damages after we win....which we would win.