Wendell Grimm - LLNNMM, LLC Withdrew Unexpectedly From Agreement Evansville, Indiana

We liaised with Mr. Grimm for approximately one month in support of a real estate loan to purchase a fix/flip investment property in Evansville, IN.  He was representing himself in his personal cognizance as a lending entity, with his LLC to serve as the formal entity as lienholder on our insurance file.

Mr. Grimm verbally approved the terms of the arrangement, visited the property and had us submit detailed refurbishment plans.  Through several weeks of texts, calls, etc., we continued plans with Mr. Grimm to purchase the property.  In the final week, we took out an insurance policy on the property at his request, and forwarded Mr. Grimm to a title agency to request title as the lender.  At a certain point, Mr. Grimm asked for us to speak on the phone, and then rescheduled the call.  When we then finally spoke, Mr. Grimm backed out of the deal citing a combination of communication concerns and discomfort with conducting the transaction in the name of our sister LLC, which we had broached with him previously.  We offered to purchase the home under our other LLC, and find ways to improve communication, but he did not seem interested.  We did not understand the concern about communication, as we always responded in a timely fashion via text, call and email.

While (1) we were not under formal contract with Mr. Grimm and he is not in legal/ethical breach of any written commitment; and (2) we understand that sometimes people must withdraw from deals, conversations were heavily developed, and the reasons for withdrawal seemed to come out of nowhere.  He did not seem apologetic or concerned about what we would do next.  It caused substantial inconvenience, and we have had to call the seller, our agent, both the tile and insurance agencies and contractors to put the project on hold.

Please be cautious in working with Mr. Grimm in his context as a lending entity - we had a positive experience until the very end, and he has left us both surprised and frustrated.