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Updated over 11 years ago,
Does this 'cash' offer sound legit?
I am selling my primary residence (fsbo), and instead of fixing it up myself I'm marketing it as-is to local investors (basically wholesaling my own house) becuase I am settling on my new house soon and don't want to extra work or expense right now. So far I've had a lot of intereset. Some low-ball offers, some just below what I owe, and one that will net me about $5K...And that's the one I find myself questioning. Here's why:
- Investor said she and partner are paying cash (not hard or private), but still want 30 days to close.
- They only want to put down $10 in EM, which I feel let's them walk from the deal REAL easy.
- Contract is contingent on inspection (even after walkthrough).
- Contract is contingent to (and I quote) "Buyer's Partner's approval".
What do you all think of this?
I'm new to REI and this will be my first sale. I would love this deal to go through but I'm seeing red flags. Am I imagining them, or should I trust my gut on this one?