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 ?
If someone is dumb enough to accept that, sure.
@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.
Thank you @Walt Payne I totally agree with on the importance of integrity and reputation. I appreciate it sir.
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.
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