Rehabbing house and already found a buyer

[Travis H.]

I am currently flipping a house in St. Louis county and a buyer literally parked out front and said they want to buy the house (when its done) Its is a 3/2 ranch with 1700 sq ft, no basement and detached garage. I still have 4 weeks left on the rehab and was initially planning on renting. Depending on the price I would profit around $50k. This is my 2nd flip and the 1st has been on the market for 4 weeks.... kind of ironic, right?

So I ask you bigger pockets...

1) What would you do: sell or rent?

2) What do I need to do to sell without realtors involved?

3) Do I need to require a non-refundable deposit?

[John Moore]

Obtain a non refundable deposit, enter into an Agreement of Sale, determined if this is a cash sale or a mortgage is required. If a mortgage is required have him apply for a mortgage and have the loan originator tell you his credit score. If a mortgage is involved have the closing date within 45 days. You don't want to be involved in a prolonged mortgage process.. Buy a lottery ticket, your the luckiest guy around.