Another question

Bird Dogs, Wholesaling
1

How legal or ethical is it to tie someone’s house up for 30 days or more with a contract that has a money partner approval contingency, and you have no real intentions to buy the house personally in the event you can not find a buyer? I mean should I also have an escape clause for the seller should they find a serious buyer so they don’t loose the sale of their house because I have it under contract? I just know that a lot of people are hurting finacially and I DO NOT want to add to their misery. If anyone knows of a good clause I can add to my contracts that protects all parties I would love to know what it is. I am just starting and don’t want my mistakes to cause other people problems, I know I am going to make some!

Thanks,

Karl D. Kessler

2

It’s legal if you put the right clauses in your contract. It’s a tough ethical question if you are unable to find a buyer to close. I think all seller’s realize a contract is not a guaranteed sale. Most seller’s will still talk to interested buyers and if someone is really interested, have them write a backup contract. Just remember you are working to help them find a buyer and they should be thrilled that someone is interested. As long as you are honest about your efforts, you should be fine.