Rental Property Investor · Nyc · Member since 2020 · 51 posts · 72 votes
I got a purchase agreement with seller. My title company got a broker who brought a buyer in, the broker needed to get access to the house. And the title company gave them sellers number. From my understanding the broker started negotiating with seller and now the seller is not answering my call. Can I proceed on looking for a buyer and assign property or is this in a legal stage already?
@Luis Serrano, Gonna be tough to work this one from a wholesalers perspective. If you were buying the property outright you'd be in a better position. I'd probably start by calling the broker or having my attorney call the broker and make sure they know there is a contract on the property already. Feel them out, see what they say. Might be they know you aren't licensed and are going to look to take advantage of that. You could always sue for specific performance, but from what I understand it's rarely worth it, even for a more clear cut deal.
I wouldn't line up a buyer unless you are a lot more certain you can perform. No investor I know is going to want to walk into the middle of this unless it is a screaming good deal and you have a really good case.