Whole Selling question

[Alex Chavez]

Hi Investors. 

I'm looking for someone to help with a question I have on whole selling. This is my first time trying to whole sell. 

I have a SFH under contract.

So in my offer I explained to seller that I will be closing in 10 days and offer cash (hard money). If I assign this contract to another investor , wouldn't he have to write up another contract with his own option period and his contract? That would extend closing day +10 days closing due to investor doing his due diligence. Right?

How does that work being that my contract says 10 day closing?

[Jorge Garcia]

Suggestion: When you put an off market property under contract it's better to schedule closing on or before 30 days. Then add an option period of 10 days. This means that within those 10 days you can cancel the agreement and get any EMD you put down, but you will lose your $100 that you put down in order to get those 10days. Keep in mind within these 10 days you are marketing the property to potential buyers if within the first 5 days of heavy marketing you have no-one interested you probably don't have a good deal. Good deals get swept up within the first 3days.