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Updated about 3 years ago,
Purchasing with cash to immediately sell
Good day everyone. I wanted to post this situation and get some other investors opinion.
I am currently a real estate agent working with a client of mine to purchase a property. She is pre approved but does not have a lot of cash on hand. We have submitted many offers but she just can’t compete with the rest of the market. I was thinking about purchasing a property with cash and then possibly do a little work to it and then sell it to her. The point of purchasing to sell to her is that she does not have to compete with the rest of the market. In terms of protecting myself is there any documents that would be suggested for me to have her sign? Would it be smart to sit down with a real estate attorney and write up a contract? I have never done anything like this but I believe it could be a win win for both of us.
Any and all advice is appreciated! Thanks a ton!