Are You Smart Enough for Land Academy (LA 1678)

Transcript:

Steven Jack Butala:

Steve and Jill here.

Jill K DeWit:

Hi.

Steven Jack Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill K DeWit:

And I'm Jill Dewit, broadcasting from the valley of the sun.

Steven Jack Butala:

Today Jill and I talk about are you smart enough for Land Academy? Who came up with this topic?

Jill K DeWit:

I know. Did somebody put that in Discord?

Steven Jack Butala:

No. And all kidding aside, this comes up every once in a while it comes up about, excuse me, geez. It comes up at the live event. It's come up and it just comes up in general. It's not so much, I decided to be really straight about it in the title.

Jill K DeWit:

Which we always are straight. So we'll talk about that. I have some notes here and there's always exceptions, but we want to talk about it with you, because we want for the right, well, how about this? You're all the right people. We want you to know, we either want to calm down your fears and or we want to be really honest with you and let you know what you're getting into.

Steven Jack Butala:

I titled this intentionally, but it could be titled, are you interested enough in doing this?

Jill K DeWit:

That's a good way of saying it.

Steven Jack Butala:

That's really what I think is happening.

Jill K DeWit:

That's brilliant.

Steven Jack Butala:

But people don't, they don't say it that way about themselves. Before we get into it let's take a question posted by one of our members on the Land Investors.com online community, it's free. And don't forget to subscribe on the Land Academy YouTube channel and comment on the shows you like.

Jill K DeWit:

Andy wrote, "If I have a signed purchase agreement and the owner gets a better offer letter in the mail from another land buyer, do I have any recourse? Just so weird that the week we were going to close, another offer letter would hit. They're wanting to take the higher offer, which is four times my offer price. Has this happened to anyone?" That's really not cool by the way.

Steven Jack Butala:

It's not cool at all.

Jill K DeWit:

By the seller, that is.

Steven Jack Butala:

This sparked a lot of interest in Discord.

Jill K DeWit:

I bet. What were the general responses?

Steven Jack Butala:

Let's answer the question first. The answer, it's the same how we're going to answer all of it. Your question is, do you have any recourse? Probably not. You might, but it's not worth it. It's generally not worth it to go down that path. My big comment is, do they really have an offer? Do they?

Jill K DeWit:

Yeah. Or are they changing their price last minute on you?

Steven Jack Butala:

Are they having second thoughts about the price?

Jill K DeWit:

Or selling?

Steven Jack Butala:

There's a lot of stuff going on.

Jill K DeWit:

Maybe they changed their mind and they could say that, that's true. That's a very, very good point.

Steven Jack Butala:

I've heard you on the phone many times in this situation and you know what she says, "You should take the offer."

Jill K DeWit:

That's what I do. I'm like, "So let's just go through, let's walk through the process. Shall we? You just got this offer in. You and I are going to close on Tuesday and you're going to get $18,000. And you're saying you got an offer for 40. Well, is there really? Let's just see. They haven't done any their due diligence. They haven't vetted this. You haven't even talked to them yet. Do we know that it's legit? Do we know they have the money? Do they know they're standing by? And after they do their due diligence, are they still going to want to pay that money? I'm sitting here right now. We are all done. You're about to get a check, a wire into your bank on Tuesday. Do you want to stop that and take the chance and or do you want a sure thing? We're done." And usually they go, "Oh yeah, hadn't thought about that."

Steven Jack Butala: