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Updated about 9 years ago,
is this a real offer or just locking me in to a wholesaler
I'm selling a property. I've posted it on Craigslist(it's low end property) for a while but it's not moving. I've dropped the price and also called back on some yellow letters I was sent.
i've got a yellow letter guy offering me a "contract" but this is my first time trying to sell a house myself. When I read the contract it sounds more like he's locking me into a wholesale deal and not committing to purchase the house. I didn't demand earnest money and perhaps that was a mistake. But I haven't signed anything.
When I talked to him on the phone he sounded fairly realistic about closing in a few weeks and understood the process. He has a closing company that he prefers and they seem to specialize in fast closings. I looked him up on LinkedIn and he has a degree in marketing and is new to investing to. He started in january 2015 acquiring properties for a local investment company.
I'm not anti-wholesale. I just want to sell the property and not lock myself into exclusivity with someone for a month.
Thanks for the help,
Dan