contract length of terms

3 Replies

BP Friends,

  What is a typical or good length of terms to close when you put a property under contract? I am looking at selling / assigning them only with no option on my part to purchase. I am thinking that 15 days is to short unless I have a buyer in waiting. Is 90 days to long? I feel that 45 days is about right, it gives me time to sell it and its not to long that the seller feels put off.  

Thoughts,      

Thank you

I usually go for about 30-45 days depending on what I can get from the seller. 

Get as long a period of time as possible from the seller.  That said, if you have no intention of closing yourself, always be upfront with the seller that you'll be looking for another buyer.

@Keith Belzner   Typical contract in our area are 30-60 days to close. I figure investors when buying should expect a 30 day close. This is typical of auction terms. It takes at least about 15 days realistically for a title company to be ready.

If you are going to be wholesaling then you need to have time to; both find a buyer and then for the buyer to have time to close. Generally if you seriously market a wholesale property and it doesn't sell in 15 days, you have priced it wrong.

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