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Updated over 7 years ago on . Most recent reply

User Stats

46
Posts
1
Votes
Mike O.
  • Flipper
  • Mitchell, SD
1
Votes |
46
Posts

Currently negotiating right now, bit skeptical, any advice!?

Mike O.
  • Flipper
  • Mitchell, SD
Posted

I am negotiating my first wholesale deal, the potential end buyer was found indirectly via a Craigslist ad for another property I called on. The other whole saler is asking for a JV agreement. We plan to meet in person to discuss the agreement. I have the property under contract...

From a common sense standpoint it would seem prudent to meet up to discuss and get comfortable with one another

Does anyone have experience in this type of situation...more/less dealing with potential buyer via another whole saler. How much interaction should i be having with actual buyer of property and or other wholesaler for negotiation?

What is typical in this type of negotiation regarding the disclosure of address, proof of funds, who draws up the JV agreement and purchase agreement (for the final end buyer purchase from which i would be selling the property after I closed on the A-B transaction) . I plan to double close, so they really should not need to know what price i got property under contract for just the split on the JV agreement (flat fee).

Stumbling a bit here, so any help greatly appreciated.

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