ok heres the story. ive been wanting to buy this parking spot from this guy for a couple of months. i called him last week for the third time and he finally called me back. he was asking for $3800 for the right for the space when he left a message on my cell several weeks ago and when he called last week i offered him $3500 (they go for anywhere 2-4000 and newer built places go for $15000 for just 1 spot!). he tells me on the phone that he will give me it for $3200!! i thought great but he then tells me the story.
he tells me that he is filing for bankruptcy and that he just lost his job and his engagement broke off...he tells in order for him to file for bankruptcy he cant make more than $18000. so he tells me wat he wants to do. he wants me to write a check for $200, sign a notary legalizing the space to me and he wants me to give him the 3000 in cash. i asked him what he was goin to do with the 3000 and he told me he was goin to stick it in his sock drawer! it got me thinkin
2007-11-05 12:15:56 · 5 answers · asked by wheels 2 in Business & Finance ➔ Renting & Real Estate
this guy told me that he hasnt paid his condo association fees for a few months and that he is/maybe losing his place. (he told me he was going to ask to strike a deal to pay half which is not going to happen!) so many questions come about this situation...
if he is losing his place is he trying to quick sale to get quick cash? does he really own the spot?
is he undermining the bank if he sells his parking spot before they foreclose his place which will then get me involved and possibly in trouble?
tax avasion?
if he owes monthly fees will he be allowed to sell?
my friend brought it up to me that i hold all the leverage in this.. and hes right i do! however im concerned with these questions and most likely others as it seems hes hiding or trying to pull something - "dine 'n dash"
2007-11-05 12:16:24 · update #1
It sounds like it's not really his spot to sell anymore, if he's not paid his association fees, he may already have lost the rights to the spot. I'd call the association and inquire within as to the legalities in your particular complex. Caveat emptor,, you know.
2007-11-05 12:26:18 · answer #1 · answered by Bob Thompson 7 · 0⤊ 0⤋
the actual question is not any remember if he owns the spot unencumbered. the only thank you to verify is to income with the loan business company to verify if the spot is a factor of the loan. if so, he can no longer sell it to you without loss payee. 2d, sure what you're doing is committing fraud - signing a sale checklist with a doctored fee. people try this each physique the time to shrink their sales tax for used autos and different purposes, despite the fact that it does not make it appropriate. the difficulty i might have is that with a checklist of in basic terms $2 hundred, enable's say he sells it to you, you come across available's a loan, so he has an identical opinion to grant you your "$2 hundred" decrease back - um, through fact it relatively is all the checklist says. you're out something of the money. i'm guessing it extremely is a notably candy rip-off...
2016-10-15 04:22:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Isn't the parking spot just an easment? If they foreclose on his property doesn't the space go with the property? You can't buy someones garage, it's part of the house, same with an easment. You may pay 3k for it but if they foreclose you are out of luck.
2007-11-05 12:24:09 · answer #3 · answered by Anonymous · 1⤊ 0⤋
The last three answers are great. Also keep in mind that this guy wants you to do this in some kind of shady manner to defraud his creditors and violate the bankruptcy code. He is desperate and can not be trusted.
2007-11-05 12:42:22 · answer #4 · answered by Bibs 7 · 0⤊ 0⤋
He will lose the spot when he loses the condo. Don't do it.
Trust your instincts.
2007-11-05 12:24:33 · answer #5 · answered by nightskywest 2 · 0⤊ 0⤋