Property Under Contract

been a 'journey' and I know u learned along the way.

Hope it closes quickly.

Don't be too concerned about a certain car, like deals, they're out there!

BEST

Way to go! getting there is literally 1/2 the battle. is the arv good?

sounds like a awesome deal!
You'll have to let us know how it goes
Hard work always pays off
Keep it up!

@ Reinvestor yes it has been, 2 years and 6 months, well 7 since its now July...I found the deal and the buyer within a week...Its in my buyers price range and he only wants a 10% return after expenses and in a nice area so I believe this will be a piece of cake I just need his ok on the assignment fee...

@ Thishousebuyer, The house is already remodelled and rented which my buyer is going to love, I believe the sellers were motivated at least on some level to come down $20k at least and lose some of their profit to make the deal happen, now I just need the buyers signature and Im good win win win for all.

@ Harold C. Thanks, I surely will let you know when I do close. If you hear someone shouting at the top of the rooftop that I closed my first deal it was probably me. LOL

Thanks for getting back to me guys I appreciate it and will keep you updated. Tomorrow I have to get my screen fixed its half white since I dropped in the rain earlier this week...now i have to use the money i am getting to fix it now I dont know how im going to do this it seems that every time I get a deal and offer accepted something happens with my phone. It never fails. But im determined. Hope everyones 4th of july was great and you all didnt eat too much. I know I did hahaha.

Keeping my fingers crossed for you! Good for you for hanging in!

Karen

Congrats and the best of luck in finding a buyer.

So happy for you! Its s great feeling, isn't it? especially after others have fallen out and you just keep going anywsys! persistence pays off!! Be sure to have a backup plan in place!

Good luck. Thank you for sharing.

I hope everything goes how you want it to go every one's wish.
Wish the best.

What is the status? Did the seller sign the contract? Did your buyer sign the assignment contract? When do you close?

Good Luck!
Michael

This deal was a no go...the buyer disappeared on me...I kept messaging him about it and I got not even a hint of whether or not he wanted to buy it...

liars

You HAVE to QUALIFY the property, seller, buyers etc

Dont let ppl WASTE your time

chock it up and move Forward.

ALOT of ppl suck....oopps

With tire kickers or rubber neckers. Why? You won't get anywhere with these ppl. The house sells to the 1st buyer that bites the hook! Keep looking for buyers, V! Never give up, man.

My sibling and I where left are family home 2 house on this property
with no mortgage in a prime location. Myself and two other siblings would
like to keep it as an investment and 5 of them want their money.
any advice as to how we might put and offer together.

Irene

I learned the hard way too, about believing people when they say they are interested. I had a property for sale and the first guy said he really wanted it....then there was this delay and that delay in getting the contract signed. I found out later I was the back-up property he wanted and he bought the other one. I should have just kept marketing it until I had a contract signed and an escrow account opened. I did sell it eventually, but I should have just been up front and told him its first come first serve.

You have to remember that a lot of these buyers are " Wanna Be Investors " They want to get going in real estate but just don't know how to go about it. They usually bring someone along with them and like to talk big to impress them. I tell them all the same thing now..... I can't hear but I can read... which means your " verbal offer " means little to me.. I get offers all the time.... if you are serious you will back it up with non-refundable deposit money... and I can follow you to the bank if that helps..... When they hear that you get a pretty honest answer quickly. Im not shy about telling them I will show the property until that point. Now I even tell them they should bring deposit money with them because they don't last long... So that has helped me out a lot. Good Luck !

DG

You need a much larger and diverse buyers list!

Why didn't you get this property under contract and then market it in every way known to man? You would be surprised how your buyers list will grow when you actually have a property under contract!

Like raven1234 said above, YOU control the deal. Show confidence that if this buyer does not want it you have 5 others waiting to take it (even if you don't)No problem, maybe they will take your next deal. Don't act desperate, even if you are.

Along with the non refundable earnest is a non assignable contract. We all bring buyers in, that is what we do, they just have to have them lined up in advance or don't sign the contract. You don't want wanna-bees tying up your deal while they search for a buyer.

Also, I have them do all of their due diligence before signing the contract. My contracts are not dependent on an inspection period. The non refundable earnest kind of covers this aspect of the contract but I have a paragraph that actually states no inspection.

All of the above insures a REAL buyer that will ACTUALLY close.

Good Luck!
Michael

Im going to do just that...Im going to start asking for proof of funds and deposits upfront just like the agents do...No time for games anymore...But then they'll say something like theyre worried about me seeing their bank numbers...and Ill just tell them to mark off the numbers I just want to see what you have in the bank, not your numbers...that'll also help me to call their bluff if they don't show it theyre not a real buyer or if it takes eons, theyre also not a real buyer...I should have something signed sealed and delivered in 48 hours...

But Im working on this one deal where im getting ready to call the sellers bluff...she accepts my offer on Friday but then turns around and tells me she signed with someone who shes not even sure will get approved yet and has to wait...I think she was scared to go with my deal because im an out of state buyer and I pushed her magic buttons now she is talking as if I have the deal but I recently just told her if I sign everything and send a deposit there is no going back because now she is just confusing every party involved and I haven't heard anything all day when she usually responds within hours...we'll see how this one goes...wish me luck...

Im glad to say that pushing their magic buttons does help because I do have the deal...Im waiting on contracts now and its time to alarm my buyers that im back on board with it so they better get on as well...I hope to have a closing date pretty soon...

I'll take deposits over POF all day long... You wont need that if they are paying with CASH. Get certified Funds for a deposit.... they wont back out if they know its nonrefundable....I don't take less then $ 5k any more. Try to get them to settle ASAP. That way if they do back out you still have time left on your contract to go to back up buyers... When you BUY...... Allow plenty of time to close.. on private deals sometimes I get up to 45 days ! I explain that Im buying a lot of homes and I need time to get them all in.. When you SELL... get your buyer to close ASAP if they have cash...I ask why cant they settle right away.... You make the terms in these deals... Make them favor you on both sides.

Good Luck
DG

This thread turned out to be very informative. Your experience has taught a valuable lesson and the feed back has provide plenty of great advice on solving your dilemmas. Just DGers doing what they do best...helping one another and providing value for future DGers to move forward to success! Thanks guys!

If the numbers are good then it's and its a smoking deal then its your buyers list you need to revise. Separate the tire kickers from the A players. Good luck and keep the DG fam posted on your deal.