Got seller under contract...WELL, Almost

[Anthony Frank]

 Hey BP Fam, needing some advice. I have a guy here in Memphis that is looking to sell all 4 properties that he currently owns. I've seen the homes and negotiated a price with him that he is willing to sell them at. He's dealing with an attorney that's working his case where they are going through bankruptcy. So the guy is unwilling to go under contract with me  unless he knows for sure the home will be bought by "my partner" because of the contingencies in the contract. He's saying every time he takes a contract or anything to that attorney they are charging him, so he doesn't want to waste money with the attorney unless he knows for sure it will sell. And the contract has contingencies of course to allow myself an out clause to not be stuck with the houses. I can't guarantee the sell and the contingencies are there for a reason, also i don't want to show other investors the properties that I currently don't have under contract and some just vulture me. If I had an end buyer investor that I trusted than yes, but I'm new and haven't built that with anyone yet. This will be my first deal to get done. What do you guys think? Advice

[Curt Davis]

@Anthony Frank

The issue I see so far is that you are trying to work this deal and the owner thinks " you " are the buyer and thus you have created weasel clauses in the event you dont perform and find a buyer you will simply back out.  Im going to share something with you thats worth about $10,000 but I will give it to you for free.  Here is how you talk to sellers so that #1. you are basically telling them your not the buyer and #2 you are there to help them.  It goes a little something like this; 

 " Mr Seller, I work with a large network of cash buyers located all around the country.  I would like the opportunity to present your properties to them for the next 30 days and see if I can bring a buyer.  If at the end of the 30 days I have not been able to locate a buyer we can either part ways as friends or look at reducing the price and see if I can bring a buyer then " 

So with something like this you should never feel like you are misleading sellers and you are actually there to help them.  

Let me know if you have any questions.  

Good luck!!!