All Forum Posts by: Ravin Scott

@J Scott

Thanks, I wasn't sure if I was suppposed to do an assignment contract or a sales contract.

I am a bit confused about an assigment of real estate contract. If I am assigning a property from a motivated seller do I need to fill out an assignment contract or a purchase agreement.

In all the tutorials and information I am reading on wholesaling seems like they are giving information on assigning the contract between the wholesaler and the end buyer.

What do I need for to get a property assigned from a motivated seller before I find someone to buy the property?

@Brian L.

The owner does not live in the property they just want to get rid of it. They are getting ready to retire and doesn't want to deal with making repairs and renting the property out.

@Jon Holdman

So, I need to have a contractor look at the property? 1 comp in the area with the lot size of 2500 sq. ft is for sale for $83500 and another comp with 2750 sq ft is for sale for $69900. The property I am looking at is 3000 sq ft. Does the sq footage also play a role in the ARV of a property?

@Brian L.

Thanks for the response. Another question is once you get the property under assignment. Do you get keys to the property to show to potential buyers? How does that work.

I have my potential FIRST property to wholesale.

The seller says the house appraised for $83500 in 1996. They are asking $50000 for the property. The seller is saying the house needs minor repairs. Like painting, plaster etc. I am sure the bathroom and kitchen may need some updates. The water heater was replaced in 03-04.

The seller wants to get rid of the house he is divorced and is 63 and getting ready to retire. He said he wants to get the house off the books.

Again this is my FIRST property that I have inquired and got a response about. I told the seller I would get back with him so that I could go out and look at the property.

I am stuck right now! Any help would be greatly appreciated.

Thanks in advance.

I inquired about a property for sale. They seller is saying the property is still for sale.

The property has been vandalized while it has been sitting.the contact person is asking $8000 for the property claims it needs $15000 in repairs and is valued at $49, 500.

I couldn't find any information on the property under the county assesment. It appears to be a foreclosure property.

The seller is asking me what do I do and what is my interest in the property and wants to further discuss the property. I am stuck and not sure how to proceed. Any help or suggestions I can get will be helpful and greatly appreciated.

Thanks in advance

I inquired about a property for sale. They contact person is saying the property is still for sale.

The property has been vandalized while it has been sitting.the contact person is asking $8000 for the property claims it needs $15000 in repairs and is valued at $49, 500.

I couldn't find any information on the property under the county assesment. It appears to be a foreclosure property.

The seller is asking me what do I do and what is my interest in the property and wants to further discuss the property. I am stuck and not sure how to proceed. Any help or suggestions I can get will be helpful and greatly appreciated.

Thanks in advance!

@Jerry Kisasonak

Thanks for the info. Being that you have been in the business for some time do you think networking with other wholesalers is a good idea for someone trying to get into the business?

If you are going to do a birddog deal is it a good idea to send the potential buyer all of the information regarding the potential property and allow them to draft a document stating how much they will give you for the sale? Or should you have an assignment of contract form done to ensure that you get what you should get for giving the buyer a lead?

Thanks,