My husband and I have successfully flipped a few deals. We we're able to find investors, the deals we worked out with the sellers were good.
But this last one, a shore property, 2 story house with a single wide on the property. Both needing alot of work, we got the price down 40%, and advertised it well. Got lots of call, and it showed pretty good. I always put a closing date of 60 days on the agreement of sale, and I insert a weasle clause, " This contract may be assigned by the buyer to an alternate buyer. Buyer shall not be obligated if alternate buyer does not agree to all terms."
Problem is we haven't found a buyer in the alotted time. The seller is angry. And I don't know what to do. We explained that we weren't buying the house in the beginning but work with other investors who buy properties we find. But none so far have been interested in this one. Maybe because of the work involved. We tried explaining that to her.
This is the first time this has happened, and probably not the last, but, can we be sued? She keeps calling and sending me emails, not threatening, but I'm getting nervous!!!
