I just got a property under contract and only reason I did it was because a buyer was lined up all ready. Now that I have the contract tho my buyer is nowhere to be found. What should I do? Its under contract for a great price but I don’t have any other buyers who want it. :help What should I do?
do you have any clauses in your contract so that you can get out…like a inspection clause??? and how long do you have in the contract before you would have to close?
yea i put an inspection clause in the contract, thanks to these forums, and have til the 15th to close. i just dont want to back out as i got it under contract for 34.9 and arv is 80. only cosmetics needed,paint/carpet. maybe i can get funds myself and turn it into a shortsale??
You’ve got a week to find a buyer; get hoppin’.
If it is a really screaming deal, you can find another buyer. If your buyer backed out and nobody else wants it, it’s not the deal you think it is.
A week isn’t much time, but if it is really a super duper deal, there are buyers out there.
If it is a great deal and the numbers work, see if you can ask the seller for an extension, just don’t try and bail on the a profitable deal at the first sign of a bump in the road. Go onto craigslist under houses for rent and post the details about the deal. Take some fliers to your local REIA. If all else fails, call other wholesalers and see if they might have a buyer. It might cost you half the profits, but its better then just pulling the plug and having nothing to show for it. When is the closing date? Also for furture reference, you should have a clause in your contract giving you option to extent the closing date. If the sellers signs off on it, then it is nothing they can do otherwise.
Where are you? I might be able to help find a buyer… I just met a couple interesting people who have a lot of resources 
I am in the Cincinnati market. Think I have this wrapped up… long as he doesnt back out. BUT if u have ppl in my area or willing to negotiate future out of state deals with me, AND u dont mind sharing, Id love to add a couple more resources to my repertoire. 
I just would like to go on record saying that Eric Medemar is one amazing guy! With just the information I’ve Received just from his FREE EMAIL LIST I’ve learned more than I have studying gurus and attending their seminars. This guy is good! Can’t wait til I get his full blown courses!
:beer to my new idol lol :biggrin