advice when you can't find a cashbuyer for wholesaler
what to do when you have a property under contract but can't find a cash buyer. has anyone here has experienced something like this, if so what did you do to resolve it. any comments will be appreciate it.
#3 All Forums Contributor
- Investor
- Austin, TX
You either close on it and list is again (wholetail) or drop the contract and lose your option money.
@Christina Venegas what steps have you taken to connect with cash buyers? I would imagine if the deal is good you might be able to connect with someone on another cash buyers list. I have a friend who works with a lot of cash deals here in SD if you would like!
Quote from @Eliott Elias:
You either close on it and list is again (wholetail) or drop the contract and lose your option money.
By option do you mean the earnest money deposit?
@Christina Venegas I think the phrase "cash buyer" is used too much in our industry, and by people who are new. Sometimes the best buyers for the property are ones who are going to use debt, but usually it's hard money or a local bank/lender who understands the type of asset their borrower is buying, i.e. a fixer that may not be in perfect condition. Anyway, there are a lot more details needed in order to help you. I'm in OC, an hour from SD, so I may have buyers, and/or can help you figure out next steps. Feel free to DM me.
Quote from @Nicholas Coulter:
@Christina Venegas what steps have you taken to connect with cash buyers? I would imagine if the deal is good you might be able to connect with someone on another cash buyers list. I have a friend who works with a lot of cash deals here in SD if you would like!
could you give me his information. i found a deal in escondido ca and i dont have any cashbuyer
Hello Christina,
Would be delighted to look at any deals you have in San Diego.
Happy New Year.