Original message
| wgreau
   |  "Follow-up to my 8/5/00 post ......"
, Sat 12 Aug 11:42 
On 8/5 I request thoughts & ideas regarding a deal I was doing.
Everyone that responded told me to drop it and move on. Every-thing is a learning experience anyway and the point is to make choices that avoid a painfullesson, or costly.
So I wrote an offer that was "subject to" the existing first mortgage, my personal inspection, an appraisal and the eviction plus Quit Claim Deed of the occupant/defaulted buyer. He accepted. When sold, I would get the down pmt, a monthly cash flow of $140.59 over PITI,and a back end of $11,234 for a total gross of $29,844. I made the mistake of not setting the appointment for when BOTH he and his wife would be present as both need to sign.
He felt the former buyer would not sign a QCD and asked if it could quelch the deal. I responded that I needed the QCD to avoid a later potential problem (Equitable Interest Claim).
Gave him ten bucks to offer the guy for the QCD. Made another mistake in leaving the form for his wife to sign.
Results: Former buyer would not sign the QCD (not a deal stopper cause I had another way to move on that), my seller took my form to his attorney and was told my form was wrong and another one was needed (creating income for himself & sec'ty).
He also told him to wait and see what the occupant was going to do regarding the ten day notice and following complaint filed in court. I suggested he ask his attorney to buy his property and politely got off the phone.
Now I am thinking I should draft a letter withdrawing my offer, making it null & void, effective his receipt of the letter, signing it with a Notary witness stamp and mailing it Certified Mail. Two reasons: To create the feeling of loss/urgency and as a cya step for me. Of course I would suggest my being willing to make another offer at a future date. Any thoughts from y'all? 
William Columbus OH
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