Wholesale deal doesnt go through

[Haider Zaman]

Hey BP family,

I have a question regarding a wholesaling contract.  If for some reason the deals falls through, what is my (the assignor) responsibility to the seller should the buyer (assignee) backs out for whatever reason?

I want to make sure I am protected and can add any advice you provide into my contracts for my protection.

Thank you,

Haider

[Curt Davis]

So to be clear, if you have a contract with a seller to buy and you are assigning to your buyer and your buyer falls out, your asking about being protected correct?  

Well, You can do the following:

1. Find another buyer, if the deal is good enough it shouldnt be a problem.

2. Tell your seller that the contract fell out and you will get another buyer and may need to extend the contract. 

3. Honor your word and close on the property yourself if needed.

Your seller should know exactly what you are doing as you dont want to mislead them.  I dont like to hear about people weaseling out on deals.