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Updated about 3 years ago,
Need help with closing?
I have been self educating myself on real estate, investing, and wholesale for over a year or so. I have my seller and buyer ready with their attorneys ready on both ends. I need to make sure I do this correctly to receive a profit. I am confused on how to exchange contracts. The seller has an attorney, I am just confused on what info to give her. The seller's attorney is also wanting due diligence days, earnest money amount, closing date and other special stipulations. What do I inform her to make sure the contract is assigned to the buyer.
I understand I need to make a sales agreement with the seller that has the offer price. Lets say its $29,000. I have an buyer who can give a cash offer of $30,000. How would I go about everything? After I have the sales agreement, do I then contact the buyer to assign the contract. How would I end up getting a profit after closing. What is the process? Any help would be grateful.