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Updated over 9 years ago on . Most recent reply

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26
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5
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Matthew Fleming
  • Investor
  • Philadelphia, PA
5
Votes |
26
Posts

My First Wholesale Deal And I Need Help!!!

Matthew Fleming
  • Investor
  • Philadelphia, PA
Posted

Hello everyone,

I have a house under an agreement of sale contract for $33,000. I was going to purchase it but now I have a buyer for the property for $35,000. The original contract is an agreement of sale and not an assignment contract. I want to take the additional $2,000 and split it with the seller (Owner gets $34,000 and I get $1,000). My buyer is ready to purchase the property, but I don't have a wholesale contract with the seller. What is the best strategy from here? Thanks in advance!

Most Popular Reply

User Stats

381
Posts
72
Votes
Lance Wakefield
  • Flipper/Rehabber
  • McKinney, TX
72
Votes |
381
Posts
Lance Wakefield
  • Flipper/Rehabber
  • McKinney, TX
Replied

Why would you give you owner $1000? If you have it under contract at 33k keep it there. Then I would resend the first page of the contract to the owner and simply add and or assigns next to your name. Then there are like 5 different whole sale contracts in the docs area on bigger pockets download one and use it. Make 2k no need to give away 1000, or I would be happy to take if you want me to get the owner to do it for you. ;) jk... but seriously 

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