Does anyone do contingencies based on them finding a buyer ?

5 Replies

I was wondering if anyone put a contingency clause in their PA when they get a wholesale deal under contract in case they don't find a buyer. I remember in Rich Dad Poor Dad he said his contingency would be "based on partners approval" which really meant it was based on him finding a buyer. Is this still common ?

@Cierra Seay   Wholesaling should be done with full disclosure, and saying it requires a partner's approval is stretching the truth a bit far in most cases. In spite of what most people might think, integrity and reputation are very important in business of any kind.

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I have used the partner approval clause. My partner is my funding partner.. my cash buyer.  I also let them know my funding partner will be needing to stop buy for a quick peak.. inspection.. in a few days.

I also use an inspection clause.

Thank you for the insight Gary I really appreciate it. I would think there would be nothing wrong with it because technically my cash buyer/partner has to approve in order for the deal to go through.