Re: Land deal gone bad at closing options??
[Re: H5Farm]
#6905292
06/20/20 04:42 PM
06/20/20 04:42 PM
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Joined: Dec 2006
Posts: 8,867 Magna, Utah
GritGuy
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trapper
Joined: Dec 2006
Posts: 8,867
Magna, Utah
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He's got a better offer and now wants out of your deal, is my guess and using the wife for a stall tactic, or there is family issues from others your not aware of that are not on the title of property and he's is trying to squelch the deal because of hurt feelings!!
You need to play hardball next time up to bat or this could really cost you, don't be shy just wade in and have some one with more authority represent you, doubt he would listen to any thing you wife can do as your representative and regard that as a conflict of interest and another stall tactic.
Things can look good on paper even with a title company and still be held up for a long time, because the seller finds another buyer using your bid for a lure and interest on how good the sale can be for another.
Good luck, does not look very good from the chair I sit in LOL
Sorry if my opinions or replies offend you, they are not meant to !
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Re: Land deal gone bad at closing options??
[Re: H5Farm]
#6905294
06/20/20 04:44 PM
06/20/20 04:44 PM
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Joined: Dec 2015
Posts: 6,369 se South Dakota
NonPCfed
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trapper
Joined: Dec 2015
Posts: 6,369
se South Dakota
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What's a "10-31 farm deal"...?
"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground". Genesis 1:26
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Re: Land deal gone bad at closing options??
[Re: GritGuy]
#6905311
06/20/20 05:00 PM
06/20/20 05:00 PM
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Joined: Jun 2010
Posts: 16,433 Iowa
~ADC~
The Count
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The Count
Joined: Jun 2010
Posts: 16,433
Iowa
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He's got a better offer and now wants out of your deal, is my guess and using the wife for a stall tactic, or there is family issues from others your not aware of that are not on the title of property and he's is trying to squelch the deal because of hurt feelings!!
This or maybe they have kids who are opposed to the sale.... ??? Something is fishy but hopefully they do the right thing.
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Re: Land deal gone bad at closing options??
[Re: H5Farm]
#6905366
06/20/20 05:58 PM
06/20/20 05:58 PM
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Joined: Dec 2006
Posts: 3,724 Maine
Mac
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trapper
Joined: Dec 2006
Posts: 3,724
Maine
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Not intending to be rude, but if your wife is a lawyer, why in heck would you seek input here? Good luck
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Re: Land deal gone bad at closing options??
[Re: NonPCfed]
#6905507
06/20/20 08:15 PM
06/20/20 08:15 PM
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Joined: May 2020
Posts: 999 Illinois
dkrug
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trapper
Joined: May 2020
Posts: 999
Illinois
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What's a "10-31 farm deal"...? It's an IRS Tax play that let's you sell a property and buy another like property without the capitol gains hurting you. You only have a certain amount of time to do it. Such as selling in one state and buying in another.
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Re: Land deal gone bad at closing options??
[Re: white17]
#6906383
06/21/20 06:01 PM
06/21/20 06:01 PM
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Joined: May 2020
Posts: 999 Illinois
dkrug
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trapper
Joined: May 2020
Posts: 999
Illinois
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The property in the 10-31 ones needs to be "like Kind" property which has reasonable flexibility on property but not on the time frames. Don't hear nearly as much about it now that the new tax code has capped the max rate of capital gain at 15% most transactions at 10% and below about 75 to 80K zero.
Bryce How about more detail Bryce ?? Example ??? Good example on Agtalk as of now. Guy bought 80 acres for $640,000 and 2 weeks later offered $764,800 a $124.800 profit Advising 10-31 exchange with immediate increase in net worth with out immediate tax implications
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Re: Land deal gone bad at closing options??
[Re: H5Farm]
#6906396
06/21/20 06:28 PM
06/21/20 06:28 PM
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Joined: Jan 2019
Posts: 6,701 Wabash, IN USA
Flipper 56
trapper
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trapper
Joined: Jan 2019
Posts: 6,701
Wabash, IN USA
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Hire someone at a local airport to fly you over the place and check it out.
"Where Can A Man Find Bear Beaver And Other Critters Worth Cash Money When Skinned?"
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Re: Land deal gone bad at closing options??
[Re: rex123]
#6906646
06/21/20 09:26 PM
06/21/20 09:26 PM
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Joined: Nov 2009
Posts: 843 upstate NY
Mr. Ed
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trapper
Joined: Nov 2009
Posts: 843
upstate NY
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Have someone you now drive by and take a look. Or fly a drone over the place. Best idea. He could be cutting timber or it could be a tire dump. Up my way nobody would ever not be allowed on property they were thinking of purchasing. When I bought my 100 acres, the owner took me around and then he allowed me to take my dad around by myself. I was only 22 at the time and was looking for advice.
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Re: Land deal gone bad at closing options??
[Re: H5Farm]
#6907126
06/22/20 10:48 AM
06/22/20 10:48 AM
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Joined: Dec 2006
Posts: 3,537 Moved to Fbks, Ak.
martentrapper
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trapper
Joined: Dec 2006
Posts: 3,537
Moved to Fbks, Ak.
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When's the party? Are we all invited?
Better get over to YOUR property and see why he didn't want you snooping around!
Last edited by martentrapper; 06/22/20 10:50 AM.
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Re: Land deal gone bad at closing options??
[Re: H5Farm]
#6907171
06/22/20 11:48 AM
06/22/20 11:48 AM
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Joined: May 2009
Posts: 16,008 Champaign County, Ohio.
KeithC
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trapper
Joined: May 2009
Posts: 16,008
Champaign County, Ohio.
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Well I guess he calmed her crazy arse down and they signed the closing paperwork this morning so the deal got done. Almost drove me to drinking!!!!!!!!!!!! Congratulations. I hope you experience a great deal of enjoyment on your new property. Keith
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