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Forums » Wholesaling Forum » Potential Deal

Potential Deal Subscribe to Potential Deal 3 posts by 2 users

cmc22

Real Estate Investor
Marblehead, Massachusetts
No_avatar_forum_avatar

62 posts
Icon_minipost Posted: 09/12/2008 at 07:10AM

I have a buyer requesting the address. A couple of questions.....

1) Do I state up front that I am simply facilitating the transaction for the seller?
2) Do I give them the address without making them sign some type of agreement?
3) If I give the potential buyer the address, what is preventing him from going direct to the seller and cutting me out of the deal?

Thanks,

Chris
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Charles W.

Real Estate Investor
Amarillo, Texas
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93 posts
Icon_minipost Posted: 09/12/2008 at 09:18AM

Chris,

The answer to 1, 2, and 3 is that you need to either have an assignment contract signed or you need to actually close on the deal and THEN sell it to the end buyer. Without either then it will be tough for you represent the home without ownership rights.

If you have a contract with the seller then don't worry too much about the buyer, they can't legally take the house from under you, however, they might try.

cmc22

Real Estate Investor
Marblehead, Massachusetts
No_avatar_forum_avatar

62 posts
Icon_minipost Posted: 09/12/2008 at 09:42AM

makes sense.

Thanks,

Chris

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