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Updated about 13 years ago,

User Stats

58
Posts
17
Votes
Luigi Ontiveros
  • Wholesaler
  • Del Mar, CA
17
Votes |
58
Posts

Help !! RE Agent is killing my wholesale deal !!

Luigi Ontiveros
  • Wholesaler
  • Del Mar, CA
Posted

As some of you may already know I tied up 2 free and clear wholesale properties under contract Yesterday. Here is the situation:

Motivated seller called, we met, I offered , he agreed, we signed two purchase agreements.

ONE of the two properties had a listing agreement with a RE agent. So we both agreed, we would just give her the commission and call it a day.

The other property was not listed and had nothing to do with the RE agent.

This morning I get a call from the agent stating that the seller was no longer following through on BOTH properties.

I spoke to her later today and she said that she is going to sell BOTH properties now to some other buyer.

I am thinking of letting the one originally tied up with the RE agent go but filing a memorandum of contact with the county clerk and recorders office tomorrow morning on the other property that had nothing to do with the agent and enforce the contract.

I know this isn't a legal advice forum , but any comments, recommendation or suggestions would be greatly appreciated.

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