Originally posted by @Nestor Cortes:
I have a motivated seller looking to sell by end of week. I have a cash buyer lined up ready to go. Issue is the sellers agent got involved and asked to hold $12k in escrow or they are not signing contract. My investor is wiling to take over deal and give me a "marketing fee" how do I protect myself and not get cut out? Also I'm in NY how do I word it?
Get a lawyer. Explain the situation to him and let him draw up the contract. It only cost a few hundred. A investment well worth it.
Talk to your buyer and explain that the seller needs 12k earnest money. Work out a way where the buyer puts it down. Have you told the seller that you are wholesaling the deal? If you're up front about your intentions then it makes situations like this a lot easier to work through. Best of luck!
Join the Largest Real Estate Investing Community
Basic membership is free, forever.