Q. I filed an affidavit on a property that we have a contract to purchase subject-to that was going into foreclosure. Shortly afterwards, the homeowner quit returning our calls. She started working with someone else who offered her some more money. Now this other party was trying to close, and we popped up like a jack-in-the box, just as Lou teaches. Their attorney has now called me, and wants me to fax him a copy of the contract. He said his buyer is anxious because she has put some money down on the deal. I would like to just get some money for my time, I don't really want the house (big house, stucco, marginal deal). How should I negotiate this deal? Thanks.
A. I have had similar situations occur.
Tell the lawyer that you have a valid contract and you are fully prepared to execute. Let them know that you would remove the affidavit for a fee. Use your negotiating skills. Do not give them a number. See what they will offer you. I was able to get $1500 in one situation. Make sure they get you the certified money before you sign a Quit Claim.