subject 2 question
Hi Everyone, first let me say i am a very newbie to this site and to rei. i have been totally engrossed with this site and how great everyone is with helping each other. I will also be purchasing johns' subjet 2 package this week so the answer may be in there. But what i am questioning is this, when you do a subject 2 deal, are you basically acting as an agent. What i mean is , do you make appointments with the sellers to bring buyers to see the property and if so what would prevent the proposed buyers from contacting the sellers at a later date if they dont have any contract signed with you and doing a deal with the sellers themselves. Maybe this is a no brainer but i guess i still had to ask. John, i cant wait to get your program and really get into this. Thank you for everything you do on here.
john patrick
Hi Patrick,
Yes, you are getting a little ahead of yourself; it is all explained well by John Locke in his course.
To quickly address the question, though, you have the house under contract with the sellers before you ever bring anyone to see it.
And to answer your other question, no, we NEVER act as agents unless we are licensed as such. Perhaps more accurately, we do not ever imply to anyone we do business with that we act as agents if we’re not licensed, because saying anything like that opens the door to legal trouble.
Hope this helps,
wgheisler
Thanks wgheisler,
I guess i worded the one part wrong. I knew that we wouldnt actually say we were agents but we are the ones that actually take the buyers thru the house and show it like agents do. I think what makes it a little confusing is the fact that the sellers are still there in the house. Thank you for your response and i will be looking forward to reading about it all in the program.
john patrick
Hopefully, the manual will clarify subject to for you, but I'll try to help.
The original sellers (the homeowners) are NOT in the house when you show it to your buyers. You buy the house from the sellers, they move, and then you resell to your buyers.
In any RE investing method where you sell to the end buyer, the original sellers will always be gone before you put your buyers in.
Roger