Wholesaling ?

when i assign a contract to my buyer, am i still legally obligated to close if he should not come through?

Comments(6)

  • InActive_Account3rd September, 2005

    In most cases you are not.

  • TastyWantSum9th June, 2006

    When I did the price check, i used some of the sites listed on here to check for home sales around the area. What she also mentioned was that she did not want to take less then $45,000 for the home. She said she is tired of it and it takes too much upkeep and the first person to come with all cash is who she is gonna go with. So i used one of the links from on here to check for home prices and it came up between what i listed earlier. The lowest was $78,000 and the highest was $86,000. But how do i figure out how to know how much my profit is and how much to offer her (the buyer)?

  • charlotteinvestor11th June, 2006

    Whats the deal with all caps. Why do you have to erase?

  • TastyWantSum11th June, 2006

    Excuse me but what?!!? I deleted the post that had all caps and re-did it the correct way sooo...I dont see the problem. And about the home:

    Single family home
    Sits on a quarter acre corner lot
    Fenced in all around and has seperate fenced in driveway
    No air conditioning system
    Added two bedrooms (which makes it 3 bed/1bath)
    Owes back taxes
    Floor is wood
    Walls have some holes and need to be patched
    Bathroom needs to be fixed up
    Needs paint
    Its old (about 1948 or so)
    Covered porch with wood door (needs work)

    All in all, the yard is pretty big and has a seperate driveway to park the cars (at least three or four). It is a pretty decent home, just needs some work. What do you guys think that I should do?

  • JohnMichael12th June, 2006

    TastyWantSum

    I can see that you are still determined to do the deal.

    Two big factors remained on the plate.

    How do you plan to profit from this deal and what is your exit strategy?

  • ypochris12th June, 2006

    Wat eddah language you talk bout? We talk da kine English in Hawaii!

    Chris

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