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Updated 10 months ago on . Most recent reply

User Stats

54
Posts
13
Votes
Mike Romano
  • Investor
  • Florida
13
Votes |
54
Posts

Sellers have been unresponsive after contact was sign

Mike Romano
  • Investor
  • Florida
Posted

Hello,

So, we put this property under contract with a wholesaler, after a month, the contract expire today, and we can not close this deal, because the sellers have been unresponsive to the wholesaler. the wholesaler asked me if I wanted to extend the contract, but these guys trying to contact the sellers for the last two weeks now, and no response.

What do you think we should do in this situation?

Most Popular Reply

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3,021
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3,218
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Kevin Sobilo#2 Tenant Screening Contributor
  • Rental Property Investor
  • Hanover Twp, PA
3,218
Votes |
3,021
Posts
Kevin Sobilo#2 Tenant Screening Contributor
  • Rental Property Investor
  • Hanover Twp, PA
Replied

@Mike Romano, have you seen the contract the wholesaler has with the seller? Maybe the wholesaler has been shady and the seller doesn't want to deal with them anymore? Also some wholesalers don't understand the process well and don't lock in fully executed contracts. So, the seller's might not even be legally tied into any kind of sale.

You could also try to contact the seller directly and even make them a back-up offer if their contract with the wholesaler is ending and then buy it directly from the seller. 

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