Is it possible to wholsale property before signing contract? I have a possilbe deal brewing but want to find a buyer of property as soon as possible. Don’t want to let this one get away? been in contact 2 timess with home owner
You’ve got nothing until you get the contract signed. I wouldn’t tell another investor about the property until I had the contract. While most investors are ethical, it’d only take getting burned once by having someone you told about the property go behind your back to the owner to buy to make you realize the importance of a signed purchase contract.
I agree with Ballard;most investors are ethical, in fact its in their best interest to do so. Most will pay fairly so that you will have an incentive to keep pitching him deals.
I agree with what has been posted. Don’t give up your deal until you have a signed contract. However, you can start lining up potential buyers by giving them the gist of the deal but just not the address, name of seller, etc.
Until I have a signed contract I have nothing. You are putting your deal at risk to give out the address. The contract is the control factor. Get it before you start giving out the address.
As Turborocket suggested, if an investor asks me for a specific type of property that I have in negotiations then I’ll give out the basics of a deal but not the address. I am even cautious with this, though. I have nothing until I have a contract, and I might still have nothing even with a contract (title issues might come up). So I don’t want a couple deals to not come through when investors are expecting them, and then my buyers start losing trust in me.