All Forum Posts by: Alvin Grier

The seller is broke, so the buyer paid to cure the titles. There is no listing agent; it's fsbo.

Thanks, Oren!

I'm not sure how much the buyer spent on the title work, I think it was around $500. I just found out that the seller appears to have changed his mind and will be closing with our buyer, so that's great news.

The other buyer was going to pay 3k more (per house) than our buyer, for a package of six properties.

Excuse me while I go find some wood to knock on.

We're getting to the point where we're thinking about just not marketing deals brought to us by other wholesalers for two reasons:

1. It's a hassle when you don't have direct access to the seller, and you have to keep going through the wholesaler, who then has to contact the seller, in order for us to get our buyer in the property, and...

2. I've found that most wholesalers don't put in the work we do to find their own motivated sellers. As a result, we find that when we present the deals to our buyers, quite often they've aleady SEEN the doggone house in some mass email list.

The end result, is us with egg on our face because our buyer has already seen the house at a much cheaper price. I take relationships seriously, and I don't like feeling like we're jeopardizing our relationships with our buyers, since we're presenting stuff to them that's marked up, that they've already seen before.

The only thing I can do in this instance, is say "Hey, this deal was passed to me by another wholesaler," and that sounds ridiculous, because the buyer is thinking "Why buy this heavily marked-up deal that has fees from two (or more) wholesalers padded into it?"

Maybe I'm over thinking here, I tend to do that from time to time :-)

What do YOU think?

Good point. I was just asking, because I had seen a YouTube video about keeping in contact with prospective buyers, being that it's human nature that people do business with those they know, like and trust.

I see where you're coming from as well, and I agree to a certain extent; as long as you're not a jerk and do what you say you're going to do, buyers buy because of the DEAL, and not so much because of a relationship...

K. Marie,

Thanks for the feedback. It doesn't look like the buyer is willing to match the other buyer's price, as the increase on the sales price is outside of their buying criteria.

Yeah, we knew it was something wrong with the title, we found a buyer that took it upon himself to pay for the title work to be cleaned up.

So now it appears that he paid for the title work to be cleaned up only to have another buyer buy the property instead of himself.

We have a deal where the deal took longer than expected, due to the amount of time it took to clean up the title on the properties.

Now, since it's taken so long, we are outside of the time period of the purchase agreement.

The seller is now choosing to renege on selling to our buyer, because they're desperate for the money and they've found someone else that's willing to pay a little more, and apparently that new buyer isn't as concerned about the title not being right.

I know that legally, the seller he has the right to sell to whomever he wants at this point.

On the other hand, though, we've put in a LOT of work to find a buyer, and it's not our fault that the title work took so long.

My question, is in the future, is there any way to protect ourselves if this was to happen again in the future? We've put considerable time into this deal, and now we're probably going to leave it with nothing.

I just thought I'd ask, as there's always more to learn. Thanks in advance for your feedback.

We've accumulated the email addresses (and in some cases phone numbers) from interested parties that have been interested in properties we've had for sale.

I'd like to do a better job at establishing and keeping a warm relationship between us and the potential buyer's.

I'm unsure of a good way to go about this. I've thought about creating an autoresponder list, where they get emails about real estate tips for our market or something like that, maybe once a month.

My goal is to turn those phone numbers and email addresses into real-life relationships.

The issue with the approach I just mentioned, is that they'd have to "opt-in" into that autoresponder list, you can't just manually add email addresses to that list.

I guess I could reach out to each person that's emailed us in the past and let them know about our opt-in list, and mention the benefits (I'm just thinking aloud, here).

What do you think is a good method to developing rapport with these people, in an effort to build real relationships between those that are willing to do so?

Also, what do you think about my idea that I mentioned in this post?

Thanks for the great feedback