Non Exclusive Option to Cash Buyers - What Does This Mean

[Brent Sweet]

I cold emailed a "cash buyer" in a Facebook group last night about a property I have under contract that I am looking to wholesale.  He sent back a very short email that said "Can I send a non-exclusive option to market your St. Louis deal to my cash buyers?"  While I want to disposition the deal I don't have a ton of margin in this deal.  If I say yes to this what am I agreeing to?  Can this be done since I am, myself, trying to assign the contract?

Thanks!

[Neil Bennet Borne]

It sounds like he is trying to jv with you which means a joint venture where the wholesale fee is typically split 50 50 between the two of you and he finds an end cash buyer to earn the fee. If there is not a big margin and you want to to make more than half of the fee then tell him you are not interested in going into a joint venture.