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Updated over 6 years ago on . Most recent reply

User Stats

12
Posts
1
Votes
Rashad A Smith
  • Godfrey, IL
1
Votes |
12
Posts

First wholesale deal

Rashad A Smith
  • Godfrey, IL
Posted

Hey, bigger pockets, Quick question as a new investor whos only worked deals using the brrr method I'm looking to try my hand in wholesaling between rehabs. I think I have a good overall idea on how to execute these type of deals however I do have one question/ concern. After I get a property under contract, what happens if the property owner finds a buyer before I do? Also if I'm unable to find a buyer am I obligated to keep said property under contract until a buyer is found? Any insight or feedback would be greatly appreciated Thanks!!!!

Most Popular Reply

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9,365
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6,552
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,552
Votes |
9,365
Posts
John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

Signing contracts with no ability or intention to close is called fraud.

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