Updated almost 11 years ago on . Most recent reply
is this too risky/creative
a guy wants to sell his house. i gave him my number and explained to him all the costs involved. i told him the 12% lending costs, the property taxes, condo fees, ins, repairs, and my 20k profit , and closing costs and everything else in the 6 month process.
he said. how about, we keep the property in my name, and i pay all the costs within the 6 month period while you pput 15k of work into the house . and then you assign the P&S contract to the new buyer so we dont have to pay two sets of closing costs.
would this work? too risky?
obviously the contract would have to be written up very nicely.
Most Popular Reply
Honestly, I don't TRUST anyone in this business but me. I know that sounds awful but i find it is best when you get everything in writing. What prevent him from not taking it and running. I have some AMAZING friends in this business but I still like to stay on top o fit. I trust them to do their job but I still participate ;)
That being said everyone has a different thought. Our model is crazy but it works for us.