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Updated over 9 years ago on . Most recent reply

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50
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27
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Steve Christensen
  • Wholesaler
  • Saint Ann, MO
27
Votes |
50
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Seller Move Out - Anything I can do to protect myself/price?

Steve Christensen
  • Wholesaler
  • Saint Ann, MO
Posted

I have a seller who is considering my offer on their property. It's in a very decent area and needs very little work.

A price has been negotiated as I've seen their house with them and all their contents in it. Is there anything I can write in my offer, that can protect me in some form, if they damage the house upon move out, or if I see something upon them vacating that I couldn't before?

I'm not saying they would, and they don't seem like the type, but things do happen.

How do you handle / protect yourself / your offer when evaluating deals for offers on properties that are not vacant, but rather have sellers that will need to move out?

Most Popular Reply

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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
12,876
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

Yes, that is taken care of by a buyer's walk through prior to settlement. 

I'd be more concerned with them thinking you're buying and moving out allowing you to take possession. You better make your offer very clear that you are wholesaling, not buying yourself unless you can buy it yourself.

If a seller relies on your performance and they do reasonable things to follow the contract and you fail,  the can seek damages for costs and expenses related to moving out, motel, eating out, down payment on another property, etc. it can mount up in Mo. ;)

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