Well-executed wholesale deals feel like well planned checkmate.

89 Replies

@Jamal L. , Congratulations on the deal. Ignore the negative responses. The fact of the matter is, these were adults making decisions about their own assets (seller and investor). If the Seller really wanted to try to find a direct investor on his own and save 6K, he could have done it. Maybe the seller was not aware of how to go about doing this. He could have chosen to go the route of listing with an agent but didn't. I don't see anything unethical as long as honestly and transparency was at the forefront of the deal. Good luck on future endeavors.

Maryland Real Estate Commission

500 North Calvert Street, 3rd Floor
Baltimore, MD 21202-3651
(410) 230-6230
Fax (410) 333-0023
e-mail [email protected]

Here is the MD regulatory agency. They have guidelines for the use of licensed and unlicensed assistants. How would the unlicensed agent be classified that is brokering a home for another? 

From the MD state website on RE:

  • Real estate agents are obligated by law to treat all parties to a real estate transaction honestly and fairly. They must exercise reasonable care and diligence and maintain the confidentiality of clients. They must not discriminate in the offering of properties; they must promptly present each written offer or counteroffer to the other party; and they must answer questions truthfully.
  • Real estate agents must disclose all material facts that they know or should know relating to a property. An agent's duty to maintain confidentiality does not apply to the disclosure of material facts about a property.
  • All agreements with real estate brokers and agents should be in writing and should explain the duties and obligations of both the broker and the agent. The agreement should explain how the broker and agent will be paid and any fee-sharing agreements with other brokers and agents.
  • You have the responsibility to protect your own interests. You should carefully read all agreements to make sure they accurately reflect your understanding. A real estate agent is qualified to advise you on real estate matters only. If you need legal or tax advice, it is your responsibility to consult a licensed attorney or accountant.
Any complaints about a real estate agent may be filed with the Real Estate Commission at 500 North Calvert Street, Baltimore, MD 21202. (410) 230-6206.
Originally posted by @Bill Gulley :
Originally posted by @Shaun Reilly:

What value do agents bring to the table to for a seller?

MLS access.

So let's just say that everyone that wants to sell their property should just hire an agency to put their listing on the MLS for a flat free and reap about 99% of a Realtor's value for pennies on the dollar.

Bill here: I'm not sure I follow you at reaping 99% of the value of a Realtor, but it's obvious you don't really understand what all is included in representation. 

How many agents point out this option to a home owner on a listing appointment?

Don't know the agents that have solicited your business, but a listing appointment gets rather involved as to what both sides do in co-brokerage and who is responsible (the listing broker is)

Of course you still better offer a "reasonable" buyer's agent commission in your ad or don't expect anyone to show their clients your property, since how are they going to get paid?

It's me again: MLS listing are on a co-broke basis, that is already understood by agents, if you're speaking of a FSBO, yes, you'll need to give authorizations to show and agree to compensation, putting that in your ad will probably get feet to your property.

Shaun says: Their clients would surely be pissed off to have to pay since they were told that the seller pays.  The agent omits the fact that is ONLY if it is a listed property that offers a co-broker commission.  Of course since any listing by another agent will have this they just run with the majority and won't show the sliver of places that don't fit that model (even if it might be the perfect place for their buyer clients).

Sellers who list pay the listing broker, not the selling (buyer's) broker. The listing broker offers it on the MLS and offers a commission split to the selling broker. Each broker pays their agents

At the request of an owner, some brokers may take a listing and not go to the MLS, in fact, not all brokers are Realtors! This is more common in commercial.

A licensee is never paid directly by a buyer unless there is a specific agreement to do so. All property owners must authorize and agent (representing a broker) to show and contract any property, the agency relationship must be created. If there is only one agent involved states have requirements for different agency relationships such as acting as a transactional broker, agents may not serve two masters, basic business/agency law.

Now that you're bored with that, here's another aspect.

Licensees are 1. formally educated in all the basic aspects or real estate to ensure both parties are represented by a knowledgeable person, 2. they are to understand and employ legal and ethical representation. 3. They are bonded and insured for errors and or omissions. 4. they offer other services and products, such as counseling and warranty programs, transfer services, . 5. Regardless of their abilities, they are held to higher ethical and legal standards than Jon Q Dipstick, if they leave out some material fact or have an error in judgment as to what should have been discovered, they are held accountable and their insurance kicks in to protect the public from financial losses. 

So, the real fact of the matter is, a wholesaler who just facilitates a deal isn't really worth as much as a broker as they can't provide any assurances to either party as to their competence, ability to facilitate a transaction, cover any error or omission, offer related services or be held to a greater degree of responsibility to either party.....all of that is also included in that 6 to 10% realm. Do wholesalers offer such assurances and services? NO, they can not!

Most getting into real estate including many who have been dealing for awhile have no clue as to what Realtors or agents and brokers do, what they must do, must not do, how they are required to safeguard and conduct transactions or what responsibilities they have. It sure goes far beyond what a free lancing operator has to do or does. 

Which is why I urge serious investors and operators to learn real estate before attempting to deal in real estate.    

Otherwise, it's the blind leading the blind. :)

Bill thanks for playing but as usual you make a lot of arrogant presumptions to try to puff yourself up and belittle the people you are talking to.

Thanks for wasting everyone's time with the remedial explanation of agency crap.

I have had my license for 5+ years so I am well aware of all that.

I also talk from first hand experience that what most agents do, and what has sold most of my listings, is just putting it on the MLS.

My broker in fact tells us at our meetings that you should do some other stuff but you will sell 95%+ of your stuff by just putting on MLS and sticking a sign in the ground. He also will point out that the sign is still pretty incidental, it is just more valuable than anything else other than MLS.

Oh and he has done hundreds of wholesales, hundreds of rehabs, owns hundreds of rental doors and has participated in probably close to 1000 other transactions as an agent of managing broker.  So not just pulling observations out of his ***.

Main beef is where in my post did I say a home owner should use a wholesaler instead of an agent? I said they should get a flat fee MLS listing to get exposure and then not pay anyone to just bring someone over to their house.

But as I said be ready to pay to play. Not many agents will show a FSBO that doesn't offer a co-broke since they want to get paid more than they worry about getting the best place for their client. BTW my brokerages buyer agent agreement actually says that the buyer is responsible to pay a minimum commission to the brokerage. So if there is no co-broke, or the listed co-broke is less than the minimum, they need to pay the difference. Never comes up except on FSBO so most people just gloss over it.

Need representation by a professional?  Find an experienced real estate attorney and have them review any contract before you sign.  You will actually get someone that does need to know what they are doing in terms of RE law and not just some shlub that was able to pass a test at some point.  In my state attorney's need to close the transaction anyway so you probably won't even pay for this service as it will just be part of their fee at closing.

Face it the MLS is an information monopoly and if all that data and a good search function were available on Zillow agents would be slightly more useful than someone that manufactures 8-track cassettes.

So encouraging! 

"Infamous bandit sign" hilarious! 

Keep up the good work!

Well, I do agree that signs work any many listing agents don't. Especially when their uncle calls or their brother-in-law needs to sell. I also agree that the MLS is a monopoly, I don't put much stock in Zillow, at least as to valuations.

Didn't know you were an agent, it's not on your profile. Sorry to bore you, but others might see a difference. 

Trust me, my intent was not to belittle, just to be frank so I don't have to tiptoe through tulips trying to explain the business. 

The are plenty of bad agents, I know, I didn't know attorneys showed properties or advised about a community or areas of appreciation, didn't know they pre-qualified folks or hauled them to a lender, pulled comps or valued properties, didn't know they did everything Realtors do. I did know the looked at contracts and closed transactions. 

Again, I have nothing against flipping a contract.

As you know @Shaun Reilly  you're way ahead of the average wholesaler on this site,  as a licensee. Wish they all would or could go that route. Agency isn't really a remedial subject to everyone here and it can be much more complex. 

If you were trying to say that the real estate brokerage business is rigged, I agree, it is the system we have, but it's the American way, learn to deal with it until you can influence law makers there is a better way. But, with lose cannons rolling around on deck, being on deck can be dangerous. :) 

@Bill Gulley

"But, with lose cannons rolling around on deck, being on deck can be dangerous. :)"

Bill: never a dull moment with your posts. Always inciteful (sic)

BILL GULLEY FOR PRESIDENT!!

OOPS! Bill Gulley for Moderator:)

Originally posted by @Jamal L. :

I just wanted to share in my excitement on another wholesale deal closed with my bigger pockets family. I recently closed on a wholesale transaction all by my lonesome. The reason I'm extremely excited about this deal is not because of the assignment fee I was awarded or the fact that I actually did every aspect of this deal by myself (oppose to doing a J.V.) But because of the help I was able to provide this particular homeowner. Which ultimately brings me gratification-knowing I’m helping individuals in need, who would otherwise be in a difficult situation.

The reason I love wholesaling is because generally individuals in financial difficulties have very little avenues to go about liquidating their hard assets. Often times the properties that distressed owners are selling aren't in habitable condition and most banks won't finance a loan on an uninhabitable property. Therefore the owner is reluctant to list the property with a realtor or is uncertain that it's not in a condition to post on the MLS. So the homeowner feels stuck between a rock and a hard place.

That’s when the art of wholesaling comes into play.

My last wholesale transaction was with me assigning my contract from an elderly man to an end buyer. This particular gentleman was a 74-year-old retired mechanic. He and his wife had just moved out of their three-story home to a much more comfortable and convenient senior citizen complex. The couple had contacted me through an infamous bandit sign and told me they were looking to sell their home. During our conversation about me viewing the property the gentleman “Mr. Brown” hinted to me that he would need transportation for him to show me the property, I agreed to pick him up as well as transport him back without a second thought.

After viewing the property and conversing with Mr. Brown, I detected that he was in serious need of some money and the home was in need of major repairs. The repairs included a leaky ceiling, mechanical and electrical upgrades. Selling his home of over 40 years was the only way he could get the finances he needed. I was able to make Mr. Brown an equitable offer, which he accepted.

I then began to work tirelessly on marketing this property, which was purchased 4 weeks later by a local investor. The beauty in this deal was 1) I was truly able to assist this homeowner with the finances he needed with genuine compassion and concern for his wellbeing and 2) the investor has acquired a property with great profit potential after rehab.

That my friends is why I love wholesaling, checkmate!!! 

 Hey Jamal,

Congratulations on the success. Keep up the good work.

Originally posted by @Nathan Waters :

@Jamal L. , Congratulations on the deal. Ignore the negative responses. The fact of the matter is, these were adults making decisions about their own assets (seller and investor). If the Seller really wanted to try to find a direct investor on his own and save 6K, he could have done it. Maybe the seller was not aware of how to go about doing this. He could have chosen to go the route of listing with an agent but didn't. I don't see anything unethical as long as honestly and transparency was at the forefront of the deal. Good luck on future endeavors.

 Caveat Emptor (Buyer Beware) and Caveat Venditor (Seller Beware), saying people are adults won't cut it in real estate. 

Which brings us to Caveat Lector (Let the Reader Beware)!

None of these theories applies to shielding anyone from fraud or predatory dealing. 

I agree, honesty and transparency.......how many wholesalers have the skills to say;

"Mr. Owner, I think I can get 30K out of your house, but I can only give you 24K" and then justify that offer as being fair to the owner. 

When the seller says "gee, 6 K, isn't that what Realtors split on a $100,000 transaction? 

Then what do you say? 

With extensive knowledge, it may well be justified to an owner who accepts that offer, so long as they are aware. 

I'd like to hear that (not really) as most will talk about them, their network, their keen abilities as to their value in the deal......the correct justifications are not about you or any of those things, the correct justifications are shown in the market, with the property, it's condition, the degree of difficulty in moving that property in that period of time to limit risk exposures that may be present, think in terms of economic risks, financial risks, physical property risks, liability assumed. When you can start talking in those terms, then you may be able to justify specific distressed transactions. 

A distressed owner is not an excuse to raise your fees. 

Everyone comes here with perceptions of dealing in real estate as if it were a train load of shoes. Not the same at all, that's why newbies need to learn the difference to understand how you will be accountable. 

I'm done, you can go through the forums and learn, caveat lector! :)   

Why did you use the chess analogy? It doesn't fit with your expression of doing good. "The beauty in this deal was 1) I was truly able to assist this homeowner with the finances he needed with genuine compassion and concern for his wellbeing and 2) the investor has acquired a property with great profit potential after rehab." Chess is competitive and likened to war and competition, and sheer outhinking and out maneuvering your opponent.  Who was the opponent in this deal?  Just curious.

@Bill Gulley

 I agree with what you said. I didn't mean to over simplify about grown ups making decisions. Like I said, honesty and transparency are critical. I personally would never want to profit by deceiving someone in any way and wouldn't respect someone else that does so. 

Congrats Jamal

If you build it they will come. The haters that is. 

 @Jamal L.

Notice that there's never a licensed attorney that goes on the war path about whether wholesaling / assigning a contract is legal or not. lol, just the others... 

Hopefully you won't let negative comments on here deter you from wholesaling again. The owner had a board up that he was paying taxes on and probably getting letters from the county / city threatening fines also. Particularly if it was a hot part of town, L&I always seem to step up then. The property was free and clear and you put $30K in his bank account while simultaneously helping rid of a liability for him. Your end buyer will either flip it retail or rent it out. The neighborhood will be better off as are all parties involved.  If your P&SA was a legal contract in the State of Maryland at the time of execution and it was assignable -- your transaction was Perfectly Legal. Again, job well done.

Kudos,

Mary

@Bill Gulley I do want to say that I might have been a little harsh with my initial words on that last post.  I know you aren't some troll or something.  I have seen your stuff on here for years and know you add a lot of value and try to educate people to keep them from getting in trouble.  So I do respect you even if it would not seem that way from that.

There is some stuff about being an agent in the profile a little deeper in the like occupations or experience sections, but I don't hype it in the main stuff.  I am definitely an investor with a license rather than an agent that also invests. 

For your comment:

"The are plenty of bad agents, I know, I didn't know attorneys showed properties or advised about a community or areas of appreciation, didn't know they pre-qualified folks or hauled them to a lender, pulled comps or valued properties, didn't know they did everything Realtors do. I did know the looked at contracts and closed transactions."

This is true however you don't have to be able to do any of that stuff to get a license and having a license doesn't mean you are any good at doing any of that. Also going back to your points about E&O and liability, the incompetent agent that has a seller list $50K high who then has to endure 6 months of sitting there and multiple $10K price drops just to get back to baseline has no liability or culpability.

You are also correct I am way ahead of most wholesalers on here with my abilities. The ONLY reason that my license has anything to do with that though is because I have MLS access which makes valuing properties much easier. The reason I do better is I have spent years evaluating deals that I intend to buy, so I am not being loose with the numbers. The wholesaler that is just going out and trying to tie stuff up without a pot to piss in isn't as careful with the numbers. I realize I am preaching to the converted that it is best for people to only get involved with real estate if they have the means to actually own real estate.

I also disagree with a majority of people (Including most agents that I have heard speak on the subject) that the RE licencing course work is useless.  I think EVERYONE that wants to be involved in real estate as a landlord, rehabber, wholesaler or whatever should take the course without regard if they actually take the test.  Why?  Because if you are going to be working in real estate you should at least have a vague understanding of how things legally work and the basic terminology.  Will it tell you a damn thing about how to buy or sell real estate as an agent or a principle?  No not at all, doesn't mean it isn't useful. 

Originally posted by @Jamal L. :

The beauty in this deal was 1) I was truly able to assist this homeowner with the finances he needed with genuine compassion and concern for his wellbeing and 2) the investor has acquired a property with great profit potential after rehab.

That my friends is why I love wholesaling, checkmate!!! 

 Great to hear about your success in helping the homeowner. Serving others is what it's all about, my friend. 

Originally posted by @Shaun Reilly :

@Bill Gulley .  I think EVERYONE that wants to be involved in real estate as a landlord, rehabber, wholesaler or whatever should take the course without regard if they actually take the test.  Why?  Because if you are going to be working in real estate you should at least have a vague understanding of how things legally work and the basic terminology. 

 I agree 200%.

Regarding wholesalers, in theory I agree with the function/morality/usefulness of wholesalers.  In practice, I usually disagree/dislike the way many wholesalers conduct their business.  At the very least, every wholesaler should verbally inform the seller, prior to signing a contract, that the wholesaler has absolutely no intention of actually putting up their own money to purchase the property and that they fully hope to find a third-party buyer to actually purchase the property.  Not doing that puts a wholesaler in my slimey bucket and I would find it hard to trust doing business with them.

Some can't follow the nose in front of their face!

@Mary 

@Mary B. undefined

Did you hear me say it was illegal? Have you read anywhere that I said assigning a contract was illegal, or unethical? I can tell you, no you have not. 

Just bringing you up to speed, Jamal didn't pay the seller 30K, he paid them 24K, he sold it for 30K without touching the property.  

I totally agree with you in taking care of distressed, dangerous, uninhabitable properties and solving the owner's problem.  

Mary, seems you missed it, negative comments? You mean anything contrary to your naive, uniformed encouragement to other newbies is negative, to the contrary Mary, my first words to Jamal were to say well done. All of what I have explained must have flown right over your head, it's not about DOING a wholesale transaction, it's about HOW most are trying to do them and HOW they value their service as a strawman.

Please note above where I mentioned special situations where one might be of greater service in dealing with a distressed property. I was saying, learn to justify the price based on the property, not how hard up the owner is of if your car payment is past due and you need to make up for a bad month.  

@Brian Gibbons   put up a video yesterday I believe with an attorney who works with investors and legal council for a state real estate commission. They pretty well explain what the beef is, it's the intent of contracting to buy with no intention of buying and deceiving a seller into thinking they are selling. The other issue is stealing more equity than is reasonable and fair. They also went into advertising properties for sale or rent by someone who doesn't own the property. He might post it again here.

What is reasonable and fair, it's very hard for sociopaths to determine that, it's difficult too for those unfamiliar with the differences in dealing in real estates as opposed to dealing in shoes or T-*****. For those with predatory attitudes, please go sell shoes and T-Shirts, get out of real estate because there are different laws and rules in real estate. Really, millions can be made in shoes and T-Shirts!

I'm not falling on my sword here, there are times, ways to assign a contract legally and doing so above board, ethically. It's just that what people learn from gurus and the uniformed advocates doesn't fall into those areas. Just know the difference!

If you're going to be the cheerleader, follow the game!

Again, Caveat Lector! Absolutely Jamal, pay attention to who you listen to in public forums. :)

Originally posted by @Mary B. :

If you build it they will come. The haters that is. 

 @Jamal L.

Notice that there's never a licensed attorney that goes on the war path about whether wholesaling / assigning a contract is legal or not. lol, just the others... 

Hopefully you won't let negative comments on here deter you from wholesaling again. The owner had a board up that he was paying taxes on and probably getting letters from the county / city threatening fines also. Particularly if it was a hot part of town, L&I always seem to step up then. The property was free and clear and you put $30K in his bank account while simultaneously helping rid of a liability for him. Your end buyer will either flip it retail or rent it out. The neighborhood will be better off as are all parties involved.  If your P&SA was a legal contract in the State of Maryland at the time of execution and it was assignable -- your transaction was Perfectly Legal. Again, job well done.

Kudos,

Mary

Mary: read his post again. He did not put 30K into the sellers account. The seller got 24K and the "wholesaler" got 6K for giving a taxi ride.

Hi @Jamal Lee.  Your success is terrific.  The deal was a win-win for everybody.   No, you did not take advantage of the situation as the "faceless" Tom V depicts.   

Reading is FUNdamental (yes I know I capitalized a portion of the word).  

Your post indicates that the property was in need of "major repairs" which for some reason even supposedly serious experienced investors want to ignore, failing to understand that is a big part of the numbers game.  Neither you the wholesaler nor the seller are risking the time and money towards the repair so the deal could not be as profitable to either of you as it will be to the end buyer, taking all the risks.  From my humble perspective you put together an awesome deal.  You didn't try to run rogue on the seller or buyer which is evident in your assignment of contract profit.   

Thank you for sharing this post because the vast majority of BP apparantly wants to stake wholesalers.   I wish you much continued success and please don't hesitate to share your stories.  We are neighbors actually so double kudos!!!!!!!    

@Tom V. ,

I think you are missing the value of the post. It is about someone feeling positive about something they did. Obviously Jamal is a newer participant in the real estate business and is presenting to the community something he did that worked out well for him. We should join him in his celebration and encourage him. No doubt in the course of time people like Jamal learn how to do their job and business on a more professional level. 

Do you see the positive energy the community has responded with? I have been in the business for over 30 years and I because of the position I am in might have done the deal totally free for the seller because I understand more the needs of an elderly couple. 

I once bought a piece of land because of a private investor that put up the money. I only had construction experience and architectural design knowledge. After about a year the property had gone up in value. The private investor needed to get out of the deal. At that time my credit and financial situation had improved to where I could qualify for a loan on my own. I took out a loan and paid back the investor. I proceeded to keep up the payments on the property for about another 2 years and one day the broker called me up and told me the mortgage holder's financial situation had taken a turn for the work. They were a private party. They asked if I was willing to sell the property so I could pay off the loan. I not only agree to sell the property but signed it over to the private mortgage holder so they would get their loan money back as well as benefit from the further appreciation the property had gained. It was my way of showing my appreciation for those that supported me and I again did not need the money at that time. I was fortunate. 

You can quote laws if you want to and point out people can always do things better, You can criticize whenever you care to knock people down or you can choose to do something to help. This whole forum is about people helping each other and sharing the ups, downs, and consequences of negative experiences. It is a place to ask questions and opinions. The very fact of people participation on this forum is and effort to do things more professionally, gain knowledge, and contribute. 

I am sure you have allot to contribute to this community. However you being more professional by self proclaiming yourself as an authority and a judge I see little value by kicking someone that is new in the business. Your actions are not in keeping in the spirit of this forum and you fail to see the fact that others are rallying behind Jamal for his effort, accomplishment, and good spirit. No one is judging, we all have much to learn, and there is always something we could have done better. 

Tom V. I am so glad you are perfect and that so many people including myself aspire to be just like you. 

@Shaun Reilly , I think we are on the same page. 

Some tweeking, learning the basics of RE. You're right, it doesn't teach how to market or find deals, agents are to learn that when they get to their office, under the wings of others.

What is does teach is what is legal and illegal, you don't learn all the laws, you learn where to find them, you learn enough so that when you hear total BS, your BS meter goes off as a warning, keeping you out of trouble. Getting into trouble in RE can cast you more than you can possibly make, it can get you barred from dealing in RE. It can also teach you what a deal is and what it isn't. That saves more money. If you deal in real estate, you will bump into Realtors, doing the right thing can save your reputation and a bad reputation can put you out of business in real estate, so know how to work with them. Same holds true with other professionals you'll bump into. Why do most attorneys refuse to give you the time of day? Because you don't know the basics, you're off in guru land. 

BP can be those wings of guidance to newbies, but only after they lean the basics of RE, you'll be much more successful knowing how the game must be played instead of trying to make things up as you go or follow others that don't have a clue. 

Well, pretty much passed the day here, to no avail of some, hopefully got through to others who might be willing to put some effort into their future. Can't tell yet.

How does that go again Shaun.....Realtors, some love to hate them, others hate to love them! And, they are acceptable in a civilized world, LOL. :)  

Originally posted by @Bill Gulley :

Some can't follow the nose in front of their face!

@Mary 

@Mary B.undefined

Did you hear me say it was illegal? Have you read anywhere that I said assigning a contract was illegal, or unethical? I can tell you, no you have not. 

Just bringing you up to speed, Jamal didn't pay the seller 30K, he paid them 24K, he sold it for 30K without touching the property.  

I totally agree with you in taking care of distressed, dangerous, uninhabitable properties and solving the owner's problem.  

Mary, seems you missed it, negative comments? You mean anything contrary to your naive, uniformed encouragement to other newbies is negative, to the contrary Mary, my first words to Jamal were to say well done. All of what I have explained must have flown right over your head, it's not about DOING a wholesale transaction, it's about HOW most are trying to do them and HOW they value their service as a strawman.

Please note above where I mentioned special situations where one might be of greater service in dealing with a distressed property. I was saying, learn to justify the price based on the property, not how hard up the owner is of if your car payment is past due and you need to make up for a bad month.  

@Brian Gibbons   put up a video yesterday I believe with an attorney who works with investors and legal council for a state real estate commission. They pretty well explain what the beef is, it's the intent of contracting to buy with no intention of buying and deceiving a seller into thinking they are selling. The other issue is stealing more equity than is reasonable and fair. They also went into advertising properties for sale or rent by someone who doesn't own the property. He might post it again here.

What is reasonable and fair, it's very hard for sociopaths to determine that, it's difficult too for those unfamiliar with the differences in dealing in real estates as opposed to dealing in shoes or T-*****. For those with predatory attitudes, please go sell shoes and T-Shirts, get out of real estate because there are different laws and rules in real estate. Really, millions can be made in shoes and T-Shirts!

I'm not falling on my sword here, there are times, ways to assign a contract legally and doing so above board, ethically. It's just that what people learn from gurus and the uniformed advocates doesn't fall into those areas. Just know the difference!

If you're going to be the cheerleader, follow the game!

Again, Caveat Lector! Absolutely Jamal, pay attention to who you listen to in public forums. :)

Ok, first off I didn't call you out but I sure don't have a problem with answering you. NO I didn't read all of what you wrote and don't care to. Being respectful doesn't cost you one dime but so often you refuse to lead by example in a good way. Your delivery is always sour and you never hesitate to talk down to someone like you are holier than thou. YOU ARE NOT HOLIER THAN THOU BILL GULLEY. Anyone can be an internet bully and you so love to prove how much of an internet bully you are. I'm all for being a realist and I always appreciate education but negative sentiments irk me dearly and you sir are very irksome!!

I know he didn't come out of pocket with the $30K or even the $24K so don't twist my statement thank you. Fact remains is if his contract was valid and assignable in the State of Maryland and he assigned it then it was a Perfectly Legal Transaction. All else is irrelevant. If you don't have anything good to say then keep it moving. There are more then enough threads on here for you to chime in on and state your opinion, OMG. Until those states(that legally allow it) in this great country of ours decides to omit 'assignment' from P&S agreements as a legal practice it will continue to be used. When double closings become outlawed then that will no longer be an option either. You or anyone else not liking it won't make it go away or become illegal or unethical. Stop acting as if he ripped someone off. We can go back and forth for ages on here(as if I had any interest in that madness) but what good would it serve? So I will gladly and vehemently agree to disagree with you.

I'm not going to state much more so that I won't get flagged but well wishes to you anyway. ;-)

Kudos,

Mary

Jamal,

Congratulations! 

Very inspiring. Keep following your heart and mind.

More success !

Francis

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