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Updated almost 8 years ago, 12/28/2016

User Stats

133
Posts
43
Votes
Steven Mitchell
  • Investor
  • san antonio, TX
43
Votes |
133
Posts

bought from a wholesaler, question

Steven Mitchell
  • Investor
  • san antonio, TX
Posted

we gave 5k earnest money, agreed to 82.5k and at most 2.4k miscellaneous and closing costs. HUD gets to us and its an additional 3.9k. We call them on it and they say they incurred more costs than normal in acquiring the deal. He mentioned they had to end up paying some of the sellers closing costs. So they just passed it on to us.

They didnt consult us on the price increase.

Now its a big ordeal negotiating down to the price we agreed upon.

Id just like to make sure that we arent being unreasonable. To us, we agreed upon a certain price.  And our margins arent large enough to just absorb a 1.5k hit like that.  I feel this is very unprofessional.  This wholesaler tells me he does 30 deals a month so Im at a loss why we are having an issue over something I see as very obvious.  

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