Negotiating with buyers as a wholesaler

Negotiating with buyers as a wholesaler

Investor · Carlisle , PA · Member since 2014 · 24 posts · 1 vote

A cash buyer just made a verbal offer which I verbally accepted and we shook on, then I sent him the contract and he saw how much I was making.  Now he says "I just ran the numbers again" and now his price is of course lower and he "doesn't remember" making a firm offer at the price we agreed on.  Other than double closing, what can I do to make sure this does not happen?  Have the buyer submit their offer in writing and swear they have completed their calculations and investigations on an "offer sheet" which I will then turn into my contract?

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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    11y

    @Sam S.

    Take this as a learning lesson.  If you are making a decent amount you might consider double closing in the future to avoid this very issue.   Take the home and sell it to someone else.

    Curt Davis - KAIZEN Realty538 Reviews
  • Investor · Chicago , IL · Member since 2014 · 159 posts · 68 votes
    11y

    Have more buyers that would be interested in the deal. You can use that as leverage in the conversation saying if that buyer doesn't want, you will sell it to someone else. 

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