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Updated about 9 years ago on .

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1
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0
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Donnie Colvin
  • Investor
  • Louisville, KY
0
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1
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Searching for Advice on Contract terms of House purchase

Donnie Colvin
  • Investor
  • Louisville, KY
Posted

I have been flipping for a few years now and the average sales price is $140k and typically new home buyers. My question is it seems almost 85% of my deals go well over the standard 30-55 days to close. I have asked my Realtor if we can impose a fee upon the buyer in the terms of the contract just like banks do with us if we fail to provide cash for the deal or etc... She has advised against as it will put off buyers. It has already cost me 2 houses I wanted to buy but my hands were tied and I am stuck with the holding cost. Does anyone have any terms that you added to a contract that can help with this or a good approach. Thanks in advance.

Donnie

Louisville, Ky.