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Updated over 3 years ago,

User Stats

17
Posts
1
Votes
Monia S.
1
Votes |
17
Posts

What is considered a standard question?

Monia S.
Posted

Hello all

I am a wholesaler and would like some advice from investors or other wholesalers who have insight on this situation.

After cold calling a off market property and coming to an agreed price with the owner, I sent him out a contract to sign so I can proceed with getting him a cash buyer. It was sent out around 5 pm and I also saw through docusign that he received the contract not long afterwards. Didn't hear anything from him the next day so I reached out the following morning to make sure he saw the email by asking if he had received it and to call or email me if he has any questions...still no response. Fast forward a week later he sends me a text saying he has questions about the contract and to give him a call when I can. Called him the same day to see what the issue was and he started off asked what an assignment fee was ( FYI I disclose the assignment fee and earnest money that is included in the overall price).  I explained that I am a wholesaler and that is a fee included in the overall price which the investor would pay along with the earnest money. He then asked who's escrow account would the money be in  ( fyi on the contract it says " earnest money" not escrow).  I responded saying that I would have to have a signed contract in order to go forward with the process of the investor committing to moving on to release that information. He then got upset saying that he asked a standard question that I should be able to answer. I then said that I understand but there is a process that takes place in order for me to give him that information and was willing to rewrite the contract to specify that he would get that information after signing the contract. He kept saying he doesn't feel comfortable not knowing so I  told him I understand- repeated what I said earlier about this being a process and advised him to consider other offers if he was not comfortable  ( BTW he had no there offers from my understanding ).

In my opinion he didn't seem as though he was serious about moving forward but my question is- should I have went about this a different way?Is this a " standard question" that I  was not aware of? 

Advice would be appreciated