Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 7 years ago,
End Buyers want Perc test
Hello everyone. I'm new here. I have sold 4 properties by the buy, hold until buyer found then sell method. Worked pretty good. So I wanted to try the whole sale method. I currently have a property under contract and am trying to find a buyer. It's vacant land. I'm selling for less than half of tax assessment in a pretty nice area. If sold at my asking price I'll make around $5k profit. My question is how do I handle the number one question.....Does it perk? As a wholesaler, am I supposed to perk test it myself, or do I include a clause in my contract that allows the buyer to conduct soil test and the deal is contingent upon results. My current contract with seller does not list soil testing so I guess I would need to have seller sign a new contract? Any help is greatly appreciated. Thanks!!