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Wholesaling

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Ronnie Gilmer
  • Investor
  • Fort Washington, MD
5
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20
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The difference between types of payments and closing.

Ronnie Gilmer
  • Investor
  • Fort Washington, MD
Posted Dec 11 2014, 21:47

What is the difference in the closing process for buyers buying an assigned contract using hard money or bank financing vs. cash.  

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Jimmy Moncrief
Pro Member
  • Chattanooga, TN
100
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319
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Jimmy Moncrief
Pro Member
  • Chattanooga, TN
Replied Dec 12 2014, 06:38

not sure if i understand your question?

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Jade Davis
  • Syracuse, NY
35
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143
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Jade Davis
  • Syracuse, NY
Replied Dec 12 2014, 08:28

Financing takes a LOT more time to close. The benefit of wholesaling is that you have a much quicker closing because you don't have to deal with waiting around for the lender to get their things in order. 

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User Stats

20
Posts
5
Votes
Ronnie Gilmer
  • Investor
  • Fort Washington, MD
5
Votes |
20
Posts
Ronnie Gilmer
  • Investor
  • Fort Washington, MD
Replied Dec 12 2014, 08:30

@Jimmy Moncrief  @Jade Davis  What I am referring to is a buyer that is interested in a property that is using financing vs cash in a wholesale deal. 

User Stats

319
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Jimmy Moncrief
Pro Member
  • Chattanooga, TN
100
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319
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Jimmy Moncrief
Pro Member
  • Chattanooga, TN
Replied Dec 12 2014, 10:38

In my experience, the price matters less than if you can close in cash...

Hope that helps.