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Updated almost 12 years ago on . Most recent reply

User Stats

35
Posts
11
Votes
Brandon C.
  • Real Estate Investor
  • Hockessin, DE
11
Votes |
35
Posts

1st Deal! How Would You Squeeze Money Out This Deal?

Brandon C.
  • Real Estate Investor
  • Hockessin, DE
Posted

Hello Fellow BP'ers,

Here's the deal, I was about to cancel the contract on the property in question due to lack of buyers. As a last ditch effort I told a friendly buyer he could take over the contract at the current contract price (leaving me $0 profit). I want to build a good relationship with the buyer as he's a friend of a friend.

Does anyone have a suggestion for how to structure a deal to still walk away with a few dollars in my pocket?

Here are the facts:

Contract:
  • Contract w/ Seller in Hand
  • No Contract w/ Buyer Yet

Money:

  • Contract w/ Seller: $24k
  • Buyer Agreed to: $24k
  • Buyer to Deposit: $2.5k

Close Date:

  • Contract w/ Seller: 12/20
  • Buyer can close the same day he closes selling another property: Jan 17th
Thank you!

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