My first wholesale under contract

[TJ Brisbois]

My first wholesale deal - The seller is under contract with me for 100k.

A buyer had made an offer of 110k.

I need to protect myself from the buyer trying to cut me out by going to direct to the seller. 

When I send the notice of assignment to the buyer, he will want to see the contract he’s being assigned (the close by date is in there).

What can I do?

[Brian Pulaski]

Originally posted by @TJ Brisbois:

Thank you so much for your reply Jon! The close by date on my contract with the seller is 12/31. So it’s not a long time to go until it expires. I think my best bet here is to have the seller sign something saying he agrees to pay me a commission if the buyer cuts me out.  I’m just not sure how to word that.

Your title says "broker" are you a real estate broker? If so I imagine you can have stipulations about the seller paying commission. If you are not a broker for real estate then I doubt you can require someone to pay you a commission on a real estate transaction.

I just bought from a wholesaler. I saw the sellers info, I saw the sale price they were paying, and I even met the seller at the property. Never once did I attempt to steal the deal. I would rather buy at the price I was ok paying and keep the relationship with that wholesaler moving forward!