When do i use my exit stategy??

Question

This is my first wholesale deal and my once motivated sellers aren't so motivate anymore. How would I use my exit strategy when the sellers get greedy?? We have a few more days until the contract is up.

Account Closed · Answer

Understood. It's illegal for them to back out of a binding contract if they signed it but going through litigation is expensive and timely. If your buyers already have a number they're willing to pay on that particular property you can cancel the contract, use an option contract which allows them (the seller) to still market the property for a higher price but also gives you a timeline to assign or close and resell at a specific price.If they're aware of all the costs associated with selling on their own or with a realtor as well as the timeline, the benefits working with an investor offers and still want a higher price you have an unmotivated seller.

Account Closed · Answer

Not sure how it got to that point but I usually see things like this happen when the investor doesn't take time to weed out all the decision makers and/or fail to align the benefits of their offer with the seller's pain points (motivation) in an easy to understand way. Another possibility is that they weren't that motivated to begin with, there needs to be a pressing issue. I've dealt with sellers that backed out last second because I didn't follow a consultative selling process. I've also dealt with sellers so motivated they didn't care what I offered as long as they received enough cash at closing for a down payment on a new home. Don't have enough detail to go any deeper than that.

Kevin Walker · Answer

the issue is that they're holding out for more than the contract states. Investors are only offering below what the sellers are asking for. What I would like to know is exactly when and how do I use my exit strategy??