All Forum Posts by: Kimberly Anderson

@Wayne Brooks well more specially, in this scenario, would a QCD even work for a wholesale deal? would she even have had the rights to put the home under contract?

@Wayne Brooks Thanks for the feedback, and unfortunately it looks like you called it. I took a second look at the clerk site and found a more recent document (from last month) that clearly shows a Quit Claim Deed between her and Pneuma Group, LLC, consideration of $10. Clearly that's not good for me, but what does a QCD mean exactly? Thanks again for the heads up on that

@Doug Merriott Yes, I should have mentioned, I did my due diligence in the initial stages of my correspondence with her. The website for the Hillsborough County Clerk shows a "Deed in Lieu of Foreclosure" in which my prospective seller is the "Grantee", in consideration for $83k. Again, I stress, I am very new at this so my understanding of that document is that my prospective seller owns the rights to the house. Please correct me if I'm wrong. I appreciate the help with this!

Hi BP,

I'm a brand new wholesaler with just two months in this game (extreme newbie) and I'm trying to wrap my head around something. I found what appears to be a promising deal with a landlord who wants to sell her home for $50k in a prime location in Tampa, FL. She has relocated out of the country with her family, so it appears she might be the motivated seller I've been looking for. My intention is to get this deal via assignment, with a $50 earnest money deposit to her (which I hadn't yet worked out as to how I could give her the EMD since she is out of the country...but I was thinking PayPal ). At any rate, we've been communicating over e-mail for a few days and I tried to get the ball rolling by finally asking her "If I were to take this house as is and close in 45 days, what is the absolute lowest you would be willing to sell it for?"

Her response: "First, I should let you know that I do not want to go through escrow".

Now, I'm a little puzzled. Aren't escrows required by law? I cannot seem to get a definitive answer as it relates to Florida. Secondly, if she's not even interested in escrow, how can I even work this deal where she would even be willing to wait at least 30 days for me to find my end buyer? I'm just trying to find a safe way to keep this opportunity alive.

Thanks in advance for your input and sharing with me your experience.