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. 

@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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