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Author Topic: When Assigning Contracts...  (Read 2070 times)

Offline realdealin

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When Assigning Contracts...
« on: July 08, 2005, 07:31:33 pm »
I have read information from several wholesalers in the business and I want to know what method is most commonly used when completing a purchase contract that will be assigned to a rehabber/investor.
I have read that some wholesalers make offers that include a "financing" contingency in the purchase contract,  whereas others make an "all cash" offer, contingent upon "inspection" and/or approval of business partners.

Regardless of which method is used, once the contract is assigned and the assignee closes,  the seller will simply be cut a check, but what do most of you veteran Wholesalers suggest when completing your purchase contracts that will be assigned?

Financing Terms (Cash, Seller Financing, New Loan?)

Condition (As Is or Inspection Contingency?)

Time frame for inspection (17 Days, 21 Days?)

Time Frame to Close (30 days, 45 Days?)

I want to be sure that I include the best terms available for the investor I will be assigning my contract to.

Offline marcasselin

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Re:When Assigning Contracts...
« Reply #1 on: July 19, 2005, 12:12:46 pm »
Hi realdealin, in my experience, I try to give my investors a 45 day close.  That gives them the ability to get their affairs associated to the property in order.

 




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