OfflineHello everyone,
How long do you let a potential buyer look at a property locked up under contract (for say, 30 days)before moving on to another buyer if the potential buyer does not make an immediate decision on the property?
Thanks for your help,
Walter
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This will depend on the contingencies that you have in place to protect yourself in the contract and who you are dealing with on selling the property! Some homeowners do not understand a contract and what is happening - but if they are represented by a realtor, they will educate the homeowner on the games that could be played in a contract. They will enforce contingencies in a contract and let the seller know when they are entitled to your earnest money in the event of default.
You should always be professional in dealing with others, understand that you need to have a buyers list and never put the cart before the horse by placing a home under contract and not having immediate investors to turn to on selling them the deal. You should have clear time frames set forth in your contract. I hope that this information helps!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
anymore than that and they're not real cash buyers; I personally have never dealt with a cash buyer who couldn't close in under 10 business days
30 days should be the limit
And Salden I must emphatically disagree with you; a buyers list is nothing more than a list of peoples names if there is no deal in place to use them.
Just my opinion.