Closing Costs for wholesale????

Question

I found a property off the market and the seller was motivated. Right now the agent that the seller is using put together a PA and I asked if the sellers are paying the closing costs. The sellers and agent know I am going to assign this property, so he told me to talk with my group of investors that I'm going to assign this to (which I do not have an official buyer yet) about what I should do for closing costs.

My offer: 310,000

Rehab: 30,000

ARV: 425,000

I was wondering if anyone could help me out on what I should do next in this situation? How much are closing costs going to be for $310,000 all cash?

Any advice would help.

Thanks!

My offer: 310,000

Rehab: 30,000

ARV: 425,000

I was wondering if anyone could help me out on what I should do next in this situation? How much are closing costs going to be for $310,000 all cash?

Any advice would help.

Thanks!

Natalie Kolodij · Answer

If this property is listed with an agent it's not off market....

Your buyers should assume they're paying closing costs unless otherwise stated. If they're cash investors they will have a good idea on what closing costs will be

John Thedford · Answer

I am not going to be any help. I question ANY agent that lets buyers play games. Are you PREPARED to close or are you signing a contract to purchase using FRAUD BY INDUCEMENT?

Cecilia Hake · Answer

It's off the market because the seller did not want to deal with putting it on the market. I had contacted the agent letting him know what type of houses I am looking for. He then contacted me saying would you be interested in a house that's not on the market yet? So we are using an agent but I did not find it on the market.

So since I don't have a specific buyer yet, they know that they will pay closing costs?

Thank you