Investor · Argyle, TX · Member since 2014 · 112 posts · 73 votes
2y
If you are assigning the property then the end buyer should want to see the AB so they see all terms they are assuming with the assignment. I won't sign an assignment without seeing the AB. I tell my wholesalers they are welcome to redact their price, but we usually find out at closing anyway.
I agree that some buyers may complain about your fee, but if the numbers work for them then it shouldn't matter. But it is important to know all terms within the AB because the end buyer will be held liable for all of them. As the end buyer, it is also important to be able to verify that the contract is written for the correct property and with the correct seller to ensure I'm not being assigned something incorrectly or that I don't intend to buy.
The investor and wholesaler should act with good faith towards each other to build a solid, working relationship for repeat business. It's a business of who you know, so maintaining a good standing within your network is vital.
@ Eliott Elias. May I ask why you want to see it? I'm a newbie. I see no benefit showing an investor because he may complain about my wholesaling fee. Perhaps you wouldn't, but I think many will. All I know is that's it's not easy getting a wholesale deal. Many sellers tell me they get contacted 20-50 times a day by wholesalers, investors and bird dogs. however, I know there's wholesalers that sometimes charge 50k-100k, which is raping the seller. I wish gov regulation would prevent such high fees.
Investor · Argyle, TX · Member since 2014 · 112 posts · 73 votes
2y
If you are assigning the property then the end buyer should want to see the AB so they see all terms they are assuming with the assignment. I won't sign an assignment without seeing the AB. I tell my wholesalers they are welcome to redact their price, but we usually find out at closing anyway.
I agree that some buyers may complain about your fee, but if the numbers work for them then it shouldn't matter. But it is important to know all terms within the AB because the end buyer will be held liable for all of them. As the end buyer, it is also important to be able to verify that the contract is written for the correct property and with the correct seller to ensure I'm not being assigned something incorrectly or that I don't intend to buy.
The investor and wholesaler should act with good faith towards each other to build a solid, working relationship for repeat business. It's a business of who you know, so maintaining a good standing within your network is vital.
@ Wayne Brooks. Why do you have to be a smart ***? There was a time when you were a newbie and didn't know answers. Don't reply to any more of my questions.
@ Wayne Brooks. Why do you have to be a smart ***? There was a time when you were a newbie and didn't know answers. Don't reply to any more of my questions.
You have heard of the old saying — even as a newbie — of “buying a pig in a poke.” You ask a question that is exactly that situation, and then you come up with a snotty reply when called on it?
no i haven't heard your pig story. Unlike you, I don't live in a double wide in southern Kentucky with my wife/sister. Furthermore, I wasn't addressing you, so mind your own business. You can't even get one lousy upvote per question per answer, so what do you know? Your stats don't lie. You and Wayne really have nothing better to do with your time than to mock newbies? Is this really the objective of BP? I'm reporting both of you losers.
Investor · Philadelphia · Member since 2023 · 104 posts · 46 votes
2y
Its not always the case that the end buyer will ask for the original AOS or purchase agreement. But in the case that they do want to see it, i would never withhold this information as they are undoubtably entitled to seeing it.
I've sold many deals where the buyer isn't really concerned with seeing it prior to purchase, but in the case that they have requested, it was provided.