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Updated over 11 years ago on . Most recent reply

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256
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64
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Morris Lucas
  • Rental Property Investor
  • Atlanta, GA
64
Votes |
256
Posts

Atlanta Wholesale Deal Lost..Seller won't do contract

Morris Lucas
  • Rental Property Investor
  • Atlanta, GA
Posted

Has anyone had a seller agree to your offer but does not want to sign a contract? I found a house off searching tax liens, and the seller is an elderly person who has a relative helping to get the house sold before the lien redemption ends(this month)

They refuse to do a contract, i even offered to make it just a week long, at least enough time to market the house, throw it on Craigslist whatever, as i know they have limited time.

I think they are trying to work other angles, which i can appreciate, and they seem eager to sell( i got them down to $10k + i would have to pay the 4500 lien) Recent solds show about 32-45k comps, and my agent says the area(moreland ave) is a lot of investor activity.

Today they told me "we'll do a contract once you have the funds ready, but we don't want to do all the contract paperwork, we just want cash upfront".

I explained i work with investors and I can't market the place without having a contract, and i wouldn't want to knowing they can sell it from under me.

Should i basically forget about it and move on?

Most Popular Reply

Account Closed
  • Dallas, TX
744
Votes |
4,988
Posts
Account Closed
  • Dallas, TX
Replied

@Morris Lucas,

Offer the seller $2000 cash upfront non refunded if they let you put it under contact and that way they know you are serious.


Joe Gore

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