Updated over 4 years ago on . Most recent reply
Wholesaler performance clause??
I have a property under an LOI from a wholesaler. It's been 8 days and I have not received an assignment or a formal buy sell.
LOI is expired now. Both of us want to close the deal, but at what point does a wholesaler have a responsibility to perform?
What penalties should be in place if it doesn’t happen?
I do believe he’s waiting on a slow seller to do paperwork, but getting really anxious.