 Wholesaler (by Ken [NY]) Jun 11, 2021 4:59 PM
 Wholesaler (by Roy [AL]) Jun 11, 2021 6:02 PM
Wholesaler (by Robert J [CA]) Jun 11, 2021 10:27 PM
Wholesaler (by Ken [NY]) Jun 11, 2021 11:18 PM
Wholesaler (by Vee [OH]) Jun 12, 2021 8:46 AM
Wholesaler (by Roy [AL]) Jun 12, 2021 9:20 AM
Wholesaler (by Smokowna [MD]) Jun 13, 2021 10:46 AM
Wholesaler (by 6x6 [TN]) Jun 13, 2021 6:02 PM
Wholesaler (by Don [PA]) Jun 13, 2021 9:24 PM
Wholesaler (by Ken [NY]) Jun 15, 2021 4:39 PM
Wholesaler (by 6x6 [TN]) Jun 15, 2021 4:45 PM
Wholesaler (by Ken [NY]) Posted on: Jun 11, 2021 4:59 PM
Message:
I answered a craigslist ad for a 2 family for sale.Turns out it is an out of state wholesaler,he has the owner showing me the place on monday afternoon.This guy is an idiot,i intend to steal the deal and buy it cheap directly from the owner. --72.231.xxx.xxx |
Wholesaler (by Roy [AL]) Posted on: Jun 11, 2021 6:02 PM
Message:
Ken,
I tried the do the exact same thing about a month ago. The out of state wholesaler had the property under a written contract, however, the homeowner wanted to me to buy the house instead of the wholesaler. The wholesaler ended up buying the house because he had the contract and I did not.
If the homeowner signed a contract with the wholesaler with a closing date, you need to read that contract. --68.63.xxx.xxx |
Wholesaler (by Robert J [CA]) Posted on: Jun 11, 2021 10:27 PM
Message:
I found a property that was for sale by owner, impossible to work with the guy. He was also behind on his mortgage payments. All tenants were behind on their rental payments, some over 1 year.
So I walked the property finding serious code violations that were in need of repair before any lender would fund the loan.
I agreed to pay "CASH" and take over with his current tenants in place. There was several discounts for needed repairs to secure insurance, a mortgage and pass city code enforcement.
So I needed the seller and his wife to sign the purchase agreement and together we would fund the escrow with $5,000 each. If I backed out of the deal, they get my five grand. If they pull out or change their mind and refuse to close the deal, they loose their 5 grand also.
Of course they refused these terms....I told them we can close this deal in 5 days. They wanted the ability to back out so it was no go. --47.155.xx.xxx |
Wholesaler (by Ken [NY]) Posted on: Jun 11, 2021 11:18 PM
Message:
Roy,this is an idiot wholesaler from out of state.I doubt after talking to him that he has the capacity to close.I am going to talk to the owner,if the wholesaler has a contract that is the sellers problem not mine but i doubt the wholesaler has the ability th fight it,considering what he is doing is illegal he wont stand a chance --72.231.xxx.xxx |
Wholesaler (by Vee [OH]) Posted on: Jun 12, 2021 8:46 AM
Message:
I am curious if the wholesaler is from OH, here in the CLE the property has to pass a lead clearance test to get the deed to transfer - no peeling, chipping, craking paint and the air entry areas must be lead free -read windows and doorways- so the wholesale market fell away starting in March 2021. --76.188.xxx.xxx |
Wholesaler (by Roy [AL]) Posted on: Jun 12, 2021 9:20 AM
Message:
Ken,
In my case, both the homeowner and the wholesaler were idiots and I guess they were made for each other. In your case, I would just proceed with caution though. --68.63.xxx.xxx |
Wholesaler (by Smokowna [MD]) Posted on: Jun 13, 2021 10:46 AM
Message:
It has been my experience that my being the idiot works best for me. As a card carrying member, if I had to work with another idiot....it really would be a mud-puddle of a mess.
Wishing you all the best on this Two-Family. It sounds like you have an accurate assessment of what is happening and you will win the sale.
--108.28.xx.xxx |
Wholesaler (by 6x6 [TN]) Posted on: Jun 13, 2021 6:02 PM
Message:
Ken, I would love to hear how this turns out and what you did. --73.120.xx.xxx |
Wholesaler (by Don [PA]) Posted on: Jun 13, 2021 9:24 PM
Message:
Often the wholesaler does not have the money to actually buy the place. They put a small down payment, sometimes a hundred bucks, and have a liquidated damages clause in the contract limiting damages to loss of the deposit.
Even if the wholesaler does not have the ability to close, you can lose out to some other buyer that the wholesaler finds. --73.194.xxx.xxx |
Wholesaler (by Ken [NY]) Posted on: Jun 15, 2021 4:39 PM
Message:
6x6 I drove by,i wouldnt pay $10000 for the place so i texted the wholesaler and told him i wasnt interested so cancel the appointment,the idiot owner was driving an hour to open the door to show me the place,o well not my problem --72.231.xxx.xxx |
Wholesaler (by 6x6 [TN]) Posted on: Jun 15, 2021 4:45 PM
Message:
Thank you Ken --73.120.xx.xxx |
Reply:
|
|