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Updated almost 9 years ago on . Most recent reply
Deal in Limbo, advice please!!!
Hi fellow BPers,
I have a situation that I'd like your input on. Aside from the obvious, that it's probably too many hands in the pot, any input will be greatly appreciated!
So here goes:
I'm on a deal where a wholesaler has a property under contract. He reached out to another wholesaler who reached out to me and I subsequently forwarded to another wholesaler who is bringing the end buyer. So yes there are a total of 4 of us on the deal.
The original wholesaler has a set price that he requires and will perform a double close. The other 3 wholesalers will split the spread between the original wholesalers price and the end buyer's cost (about $10k), to be disbursed at closing; and is spelled out in the co-wholesaler option agreement signed by all parties.
The last wholesaler is requesting the original contract price from the original wholesaler, who won't provide this information, which is why he's performing a double close. The deal is in limbo because neither will budge.
Needless to say the deal is very crowded. My question is since they deal is being double closed is there any reason the last wholesaler and/or buy would need the original contract price?
Any suggestions on how to proceed would be greatly appreciated..
Thanks in advance,
Will G