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Updated almost 4 years ago on . Most recent reply

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Vishal Singh
  • Flipper/Rehabber
  • Cleveland, OH
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Should I be worried on seller looking to close ASAP ?

Vishal Singh
  • Flipper/Rehabber
  • Cleveland, OH
Posted

I’m buying a property in Cleveland suburbs. The seller is so excited to close in 5 days from me signing contracts. The title search from the title company has already been checked clear. Am I missing something ? It is a wholesale deal. I’ve been rehabbing quite a few properties however Admittedly this will be my first whole sale rehab.

I’m fine to close, while I don’t understand why he is so eager.

I've went over comps repeatedly with realtors and my own math as to the ARV i think it's a great deal. Property needs work however nothing I'm not compensating within the rehab costs. I would appreciate any advise you have to offer. Thank you for helping. Regards

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Originally posted by @Jonathan Greene:

Holding costs, expiring wholesale contract, a good win-win offer. Any seller who finds a buyer who can close in 5 days should be excited to close in 5 days and get it off their books.

I have 5 left over properties in pretty nice areas of cleveland i want to liquidate and I will give you 7 days to close and I am the owner ..  

this is the dance the wholesalers have to do.. others would figure out who the seller is and simply wait out the wholesaler then go direct to the owner when the wholesaler contract expires .. if thats the issue seller could be saying get it closed or we are out of contract. 

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JLH Capital Partners

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