Focus:
You want to put a clause in the contract that if your 'wholesale buyer' does not close, then they will not be refunded the fee that they have paid you....
You could also put a revision in the contract that states if for some reason they could not close due to circumstances beyond their control, then they will be refunded the fee they paid you. Sometimes deals do not close do to title problems, sellers remorse, etc...
The main thing is that you don't lose a deal because your wholesale buyer cannot close. This is why I recommend you deal with experienced investor's when wholesaling and collect your fee at the time of assignment or at least 50% of your fee!
Focus:
You want to put a clause in the contract that if your 'wholesale buyer' does not close, then they will not be refunded the fee that they have paid you....
You could also put a revision in the contract that states if for some reason they could not close due to circumstances beyond their control, then they will be refunded the fee they paid you. Sometimes deals do not close do to title problems, sellers remorse, etc...
The main thing is that you don't lose a deal because your wholesale buyer cannot close. This is why I recommend you deal with experienced investor's when wholesaling and collect your fee at the time of assignment or at least 50% of your fee!
Best Riches,
Jeff Adam
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