4 ms·
Say I find a house for sale that I think is at a really low price (I want to flip it), but I can see it has some termite damage on a corner. I don't see damage
by ru552 4y ago
Say I find a house for sale that I think is at a really low price (I want to flip it), but I can see it has some termite damage on a corner. I don't see damage anywhere else and the owner signs a legal document that the termites are in less than 5% of the house. I think I can fix the termite damage and then turn a profit so I enter into an agreement to buy the house. Before we complete the transaction, I start to notice signs that the termites might be worse that initially thought. I ask to have an inspector come in and determine how much of the house is infested with termites. The owner is denying my inspection request. I inform the owner I won't complete the transaction until I get a termite inspection of the property. The owner's friend owns the local newspaper so they run a story about how I can't afford the house and I'm trying to get out of the purchase. Hi, I'm Elon Musk, but I'm buying a house and not Twitter.
- KVFinn 4y agoIt's more like, I find a house for sale and I announce that the owner is missing out on the potential value of this house, because I can see termites everywhere. I am the termite master. The owner of the house has no idea what they are doing with termites, I announce to the public. I know much more about the termites in that house than they do. They can't even see all the termites I see. What fools! The value I will bring is my termite annihilation skills. I insist on buying the house. The owner is reluctant to agree. They delay. I continue to insist that I purchase the house immediately. The owner says, hey let's stop and think about this, let's do due diligence and inspections, let's take our time. I say screw you, there is no due diligence allowed, there is no house inspections allowed, you must accept my offer now. NOW. I insist that the house owner has a legal fiduciary responsibility to their family to sell the house, because my offer is above the assessed public value of the house. This house must be sold to me! They give in to pressure and accept the sale. I sign all the contracts, I waive all the inspections. "What, the house has termites? What a surprise! I want my money back."
- glofish 4y agoTwo big thumbs up - best explanation! Elon Musk the Termite master ... I LOLd
- myvoiceismypass 4y agoMore like, you find a house, you read the seller’s disclosures, waive all inspection rights, then show up just before closing and say oh yeah can i inspect the property now even though I waived inspections and all other contingencies?