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pay or don't sell

Discussion in 'Business Fundamentals' started by fireside, Jun 18, 2009.

  1. fireside

    fireside Senior Member
    Messages: 661

    One of my accounts is now 90 days late in payment. I had severeal convesations with there onsite administator she has done all she can do for me. All winter they payed with no problems even paying the sweeping bill for the parking lot. I went there 4 day's ago and was told the complex was being sold. I went to my lawyer who did some fact finding and found the complex is in forcloser since january. I had him file a lean against the complex. He got a phone call from the current owners i guess i had stopped the sale. He wants to work out a deal for payment at a reduced price. He was told he must pay my bill in full plus all late fee's and intriest. Then he dropped the bomb shell he must pay ALL legal fee's as per the contract. So we will see what happens friday am. The buyer as also contacted my lawyer as to the status.
    I added some small legal stuff to my contracts 3 years ago and it may payoff this time.
     
    Last edited: Jun 18, 2009
  2. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    I think you have them by the ball sack.
     
  3. fireside

    fireside Senior Member
    Messages: 661

    We will see just happened to be in the right place at the right time. My friend does the landscaping there so he also got the heads up but he is missing some legal stuff in his contract so he may lose out this time.
     
  4. fireside

    fireside Senior Member
    Messages: 661

    We will see. Just happened to be in the right place at the right time. My friend does the landscaping there so he also got the heads up but he is missing some legal stuff in his contract so he may lose out this time.
     
  5. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Most of the time all you need is a signed contract to put a lien on a property.
     
  6. fireside

    fireside Senior Member
    Messages: 661

    The problem is he has no legal fee wording. The cost of the lien and other legal fees is not worth the money he's owed. I think it's going to be a learning curve for him. I learned the lesson 4 years agoso that will not happen again if i can help it.
     
  7. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Depending on how much it is a judge can order fees tacked on to it and then put the whole amount on as a lien .
     
  8. fireside

    fireside Senior Member
    Messages: 661

    I was told it's a gamble without the proper wording. Works real tight so he doesn't want to spend the money on a gamble. He may try small claims court but the company is a large national company thats hide by a LLC shell game. This would be his second year servicing the account they have been slow paying so he was not worried. He was told the new owner would keep all current contracts but that means nothing .
     
  9. QuadPlower

    QuadPlower PlowSite.com Addict
    Messages: 1,056

    Try invoicing the new owners. It is probably peanuts to them and would be happy to pay up. They can always reduce the buying price by the amount owed to you and the other guy.

    Glad to see you are getting paid and that you caught it in time.
     
  10. fireside

    fireside Senior Member
    Messages: 661

    Just a quick update.The owner claims a check paided in full with all legal fee's was overnighted to my lawyers office. I will find out monday he needs my lien released to sell the complex so i had him.
    Long story short just make sure your contracts are writen right and write down everything date, time and person you spoke too you may need that info someday.
     
    Last edited: Jun 19, 2009
  11. smoore45

    smoore45 Senior Member
    Messages: 526

    For Sure!:nod: Love to hear stories like this after goin through ***** every spring just to get paid for anything done after January! :drinkup:
     
  12. RLM

    RLM PlowSite.com Addict
    Messages: 1,270

    It great to here a story with a happy out come. So often we are getting screwed, All of us myself included I'm owed about 9 K of that 7500 may be un recoverable. Mostly to a national mgmt firm. The other 1500 I may have to go to court for, but its my contract on that one (similiar to yours).
     
  13. juspayme

    juspayme Senior Member
    Messages: 116

    its amazing how they have the money now AND they can pay to have it overnighted! id cash the check at their bank. drag out the lein release as long as possible.
     
  14. fireside

    fireside Senior Member
    Messages: 661

    nothing will get released into the check clears. They wanted a letter stating bill was paided in full but we told them no. If the check doesn't clear that becomes a PD matter i don't know why but that's what i'm told.
     
  15. tinffx

    tinffx Member
    Messages: 68

    It sucks when people don't pay. Hope your check cleared.
     
  16. fireside

    fireside Senior Member
    Messages: 661

    The check came 10am today by fed ex. My lawyer said the check is good per there bank,. Into the money is in my hands nothings a done deal.