First wholesale fell through

[Lian Shi]

We put the offer on Hud two weeks ago, and accepted right away, the very next day we got multiple interested buyers for the property and one of them decided to get the deal at the same day. So excited. The buyer started to get his team work on it, inspection, run the rehab bits. We were about to get paid in a few days. Today the buyer told us he couldn't proceed the deal and need to back out because the area has been his concern. We understood. It's a great learning experience and our buyer is very kind and nice , he has taught us a lot. 

It's a bit disappointing , but over all, the experience keeps us moving forward and we will stay positive always and never give up. 

[Jay Hinrichs]

@Lian Shi I heard that some folks who do what your doing.. IE tie up HUD homes and really can't close them unless they find a buyer.. can get black balled and precluded from bidding.. some RE agents will file complaints on these folks.. have you heard that ?

I fund a bunch of hud type stuff for my clients but WE ALWAYS close unless something is wrong with the property and we walk..

I wonder if other buyers figure out you can't really close and just wait for your offer to expire then put in their own offer.. I suspect that could happen.. I mean why buy from you if they know you can't close just wait for it to come back on the auction block and buy it cheaper... ? I always wondered about that.