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Updated almost 11 years ago on . Most recent reply

User Stats

78
Posts
4
Votes
Walter Thompson
  • Wholesaler
  • Englewood, NJ
4
Votes |
78
Posts

seller back out what to do next?

Walter Thompson
  • Wholesaler
  • Englewood, NJ
Posted

hi BP

I was getting a house under contract, and everything was going smoothly until the seller went back home to GA, (the sellers house is in new jersey,) he talked to his friend and he told me that he can't sell it for that price anymore, he checked comps that are going for 120k 105k in his area.

to remind you, this home needs about 25k-30k worth of rehab and he is paying 8.700$ on taxes and I made a offer of 23k he counter whit 30k I got two partners that have investors in the area, and they said they have a buyer but it haves to be a three way split, I said that's find I just want to make my first deal, so we made a deal of 30k and the buyer was going to close on the contract for 37k, I know not that much but I didn't care for the money I just wanted to say I DID IT,

so he agree whit the 30k and the next day later, he goes back home to GA and tells me today he don't want to sign the contract, is this wholesale deal done? or can I make something happen to close it please help me,

thanks for any replys

Most Popular Reply

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5,713
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8,861
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Don Konipol
#1 Innovative Strategies Contributor
  • Lender
  • The Woodlands, TX
8,861
Votes |
5,713
Posts
Don Konipol
#1 Innovative Strategies Contributor
  • Lender
  • The Woodlands, TX
Replied

"seller back out what to do next?"

Go on to the next deal

  • Don Konipol
business profile image
Private Mortgage Financing Partners, LLC

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