I have a bank qualify borrower who want to buy this property. The problem is the Seller of this property aready have a contract with this wholesaler. I am afraid the wholesaler will assign his contract to the my borrower and cut me out of the deal. How do I approach the Seller or the wholelsaler so I get myself in some type of contract so I can get paid. Any help and suggestion ??
Thank!
Benny
What state are you in?
I’m confused on this one. You’re saying you don’t have an option on the house and the seller already has a contract on it with a wholesaler, but you have a potential buyer. See what the wholesaler is willing to give you a referral fee and put it in writing. Even if they didn’t want to pay me, I’d hook the buyer and wholesaler up anyway. This creates good will and now two people owe you a favor.
I am in the state of Texas
I would call the buyer (wholesaler) and tell him you have a person that would be interested in the property that he is buying. Tell him you are looking to create a win-win situation for both you and himself/herself and ask if he/she has any ideas. I have had alot of sucess with letting people create their own win win on deals like this and many times I pick up more money than what I would have wanted in the first place.
Eric Medemar