Seller wants to use her contract and title company??

Seller wants to use her contract and title company??

Member since 2018 · 60 posts · 3 votes

Hello, I am new to wholesaling and trying to get my first deal. I'm dealing with a probate seller who I found on trulia for sale by owner. We agreed upon a price and she then asked me to send over my contract. I sent her over my one page contract I got from a you tube subscriber "flip man". She said that she doesn't like it and her attorney advised her to use her 12 page contract, which is the As is residential sale of purchase agreement for fl. She will not do the deal which makes me confused if she is even motivated. I thought I was suppose to be in control. She said she has her own title company she would like to use. She also said a buyer backed out and this was the contract she liked from the other buyer. I feel like she knows a lot about real estate because she asked me if im going to be giving this property away or fix in flip. she did say she is has a good friend who is a realtor that's helping her out in the process. She wants to close in 15 days. Does this sound like a wholesaler? What would you do in this situation to close this deal?

This is the contract she wants to use. Is anyone familiar with it? Also can anyone recommend a legit contract to use in the future.   Thank you

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  • Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
    8y

    Not enough out your area but in mine it is standard for the seller to provide the contract (by an attorney also). It sounds like your seller is knowledgeable and trying to thwart your efforts. You can try and work with this seller or move on.

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y

    seller knows more than you... and unless you have the cash to buy this  closing in 14 days is probably not in the cards unless your getting a smoking deal which from the sounds of the sellers sophistication is doubtful..

  • Flipper/Rehabber · Sacramento, CA · Member since 2016 · 807 posts · 815 votes
    8y

    Jay's right, the seller knows more about this than you and I have the feeling this isn't really a deal. What are the numbers?

    If it's an awesome deal that you don't want to lose, start calling any private lenders you know and see if they'd lend you the funds in exchange for part of the profit you make.

  • Member since 2018 · 60 posts · 3 votes
    8y

    @Pratik P. The arv im getting when doing comps is 130k, repairs about 20k i would say because the kitchen is a mess. She is asking 77,500.

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