We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
June 25, 2022, 12:46:02 pm
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
June 25, 2022, 12:46:02 pm
Home Help Search Calendar Login Register

Author Topic: Protecting Your Wholesale/Flip ?  (Read 1363 times)

Offline Peter114

  • Member
  • ***
  • Posts: 112
Protecting Your Wholesale/Flip ?
« on: April 11, 2008, 03:55:46 pm »
How does one keep the potential buyer from going behind your back to deal and buy directly from the seller?

Suppose you give the potential buyer the property address/location and he meets with the seller and decides to buy with the seller at
the seller's price (a lower price than yours).

I heard that one can wholesale without money or credit. The Purchase & Sales Contract call for earnest money to be put down.

If one does not have large earnest money deposits and uses an Option Agreement with no option money or $10 to put a contract on the property, how does one keep the potential buyer from dealing directly with the seller at a lower price that you?

The potential buyer will want the property address and location before he can make an offer.

Offline Quick Home Solutions

  • Member
  • *
  • Posts: 8
    • Central Ohio Wholesale Homes
Re: Protecting Your Wholesale/Flip ?
« Reply #1 on: April 13, 2008, 10:52:24 am »
You should sign a purchase contact with the seller prior to advertising the property.  Your purchase contract should indicate that you OR your assigned is the buyer.  This way the seller is locked in a contract with you can cannot sell to the potential buyer.  Once you locate a buyer they sign the assignment contract making them legally responsible for the purchase contract.

 




SMF 2.0.15 | SMF © 2017, Simple Machines