1st Deal! How Would You Squeeze Money Out This Deal?

[Brandon C.]

Hello Fellow BP'ers,

Here's the deal, I was about to cancel the contract on the property in question due to lack of buyers. As a last ditch effort I told a friendly buyer he could take over the contract at the current contract price (leaving me $0 profit). I want to build a good relationship with the buyer as he's a friend of a friend.

Does anyone have a suggestion for how to structure a deal to still walk away with a few dollars in my pocket?

Here are the facts:

Contract:

• Contract w/ Seller in Hand
• No Contract w/ Buyer Yet

Money:

• Contract w/ Seller: $24k
• Buyer Agreed to: $24k
• Buyer to Deposit: $2.5k

Close Date:

• Contract w/ Seller: 12/20
• Buyer can close the same day he closes selling another property: Jan 17th

Thank you!

[Wayne Brooks]

Try to renegotiate your contract with the seller.