Updated almost 12 years ago on . Most recent reply

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