How could this work??

Thanks for your input masseur07...that is so true. I guess we got to have faith basically in anything that we do or doing.

Have you tried getting a payday loan or maybe one of those auto title loans for quick cash?

The truth is that you are both looking at the situation relative to your best interest and since you are starting out and do not yet have the funds to provide earnest money deposit, then you need to accept the fact that the seller needs to keep his/her options open. Just do your best to aggressively seek a buyer for the property.

I think i'll be aggressive to seek a buyer either way. I'll love to get this deal under my belt so that the next time around i'll have some earnest money to put up. Thanks for your input & God Bless!

Negotiate the $500 down to $100 and get it under contract-then find a buyer and assign the contract

Sorry, I'm exhausted right now and not thinking too straight but there are forms you have your buyer sign before you tell him the address (nondisclosure or something like that). That way he or any of his acquaintances cannot go around you.

When everybody comes back tomorrow someone will know. Just put him off until then and make sure this thread comes up for people to see then.

Just hurry up and find him a buyer! Do you have a list?

Karen

You are correct! Before you give ANY of your buyers any information, you have them sign a Non Circumvent/Non Disclosure form. This will have a clause in it that a monetary penalty will be paid to you should he go under contract with the property behind your back (But in a more legal and binding way than I just worded it )

I guess the trick is how to find out if someone you introduced to the property put it under contract.

Also, you have exit clauses in your contract

Use 'subject to partner's approval' or 'subject to inspection' and give 10-20 days for the time frame for that clause to be met. Then, you have up until that time in your contract to find a buyer and NOT jeopardize your EMD.

And of course, don't forget the AND/OR assigns after your or your company's name in the offer!

That's a good idea...i'm going to present that offer & see how it goes. Happy Investing!

Now why didn't I think of that...goes to show, 2 heads are better than 1. I do have a form that I use when i'm birddogging with that same exact clause. Thanks a million. I don't have a buyers list as yet for this state but i'm working on it as we speak. God Bless!

Zion Properties wrote:

You are correct! Before you give ANY of your buyers any information, you have them sign a Non Circumvent/Non Disclosure form. This will have a clause in it that a monetary penalty will be paid to you should he go under contract with the property behind your back (But in a more legal and binding way than I just worded it )

I guess the trick is how to find out if someone you introduced to the property put it under contract.

Also, you have exit clauses in your contract

Use 'subject to partner's approval' or 'subject to inspection' and give 10-20 days for the time frame for that clause to be met. Then, you have up until that time in your contract to find a buyer and NOT jeopardize your EMD.

And of course, don't forget the AND/OR assigns after your or your company's name in the offer!

I think those clauses are a fabulous idea. I'm going to add the monetary penalty & subject to inspection clauses to my contract & that should tighten it up. Thanks for the insight. Happy Investing & God Bless!

Ask the owner to put a clause in that the EM is due 2 wks from accepting offer. then find an end buyer and get the EM from them.

good luck.

give into his needs.

If you speak with him on monday let him know you'll sign on thursday. In those three days bust your arse getting a buyer, no revealing of address, on thursday, sign and ask for a 30 day contingency, have your buyer on standby.

The moment you sign the contract, call him ask if he'd like to see, show him, and hopefully voila

Most times if you have no leverage in negotiations, you gotta do what you must and make it happen. if the #'s are worth the effort, you do what you must to make it happen.

Good luck

I'll keep that in mind but the only problem I see with this is what happens if I don't find a buyer by then?

but suppose I don't find a buyer within 3 days...what happens next? If I did find a buyer within 3 days, I wouldn't be able to show them the property because i'm doing virtual wholesaling but make no mistake...i'll do what I have to do to make it happen. Happy Investing & God Bless!

If you dont find a buyer within the two week window he can look for backup offers. If its a great deal I would imagine you will find a buyer. Depending on the numbers you can reach out to other wholesalers to bring you a buyer for a fee, like 1,500 which is the going rate.

good luck either way.

That make sense. It's not so much of a bad deal so i'm hoping to find a buyer pretty soon. I should be talking to him on monday so i'll mention that to him and hear what he says...and like you said, if it comes down to it, i'll definitely reach out to other wholesalers for a buyer.Thanks again and God Bless!