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Updated over 8 years ago on . Most recent reply

User Stats

61
Posts
12
Votes
Joe Threats
  • Lithia Springs
12
Votes |
61
Posts

Close to closing 1st deal! Need help!

Joe Threats
  • Lithia Springs
Posted

Good Afternoon BP, 

I was able to get my first property under contract about 3 weeks ago. Since I've gotten lots of people inquiring bout the property. Well today an offer was made and the the buyer wants to close this week. :)

I'm slightly hesitant but here's why. After agreeing on the price the buyer said he would send of over the contract. Once I saw it, it read Purchase and Sales Agreement. I was thinking it should have been the purchase of contract agreement. So I made it clear with them that the house was currently under contract and was looking for cash buyer. They replied with "I am not the cash buyer  but I do have a cash buyer wanting to close and yes I know you have it under contract" 

I guess my question is should I sign the PSA they sent over to me? Is there anything I need to do to make sure I don't mess anything up on my end? Thanks in advance for any advice I receive!

Most Popular Reply

User Stats

3
Posts
5
Votes
Cory Boatright
  • Lender
  • Edmond, OK
5
Votes |
3
Posts
Cory Boatright
  • Lender
  • Edmond, OK
Replied

@Joe Threats One my marketing companies does about 100 Wholesale deals a year in Greater Oklahoma City. We send out over 30k postcards a month and do deals with cash buyers and Co-Wholesaling/JV.

Here is the agreement you need with an example how to complete it in yellow highlight.

RealEstateInvestingProfits.com JV Co Wholesale Marketing Fee Agreement


I hope this helps bro and congrats on your FIRST DEAL!  Frame that check!

Remember... be a servant,

Cory Boatright

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