Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

17
Posts
8
Votes
John Lamb
  • Rental Property Investor
  • Phoenix, AZ
8
Votes |
17
Posts

How to handle post-possession closings with wholesale company?

John Lamb
  • Rental Property Investor
  • Phoenix, AZ
Posted

I'm looking at purchasing a property from a wholesale company but the current owner will have a 30 day post-possession closing in order for them to find a new place to live. When I called the wholesale company, they said the post-possession is built into the purchase price (not sure what that means). Only after the 30 days would the owner be charged $250 per day.

Because the seller is the wholesale company, I don't seem to be able to collect a security deposit or rent for the 30 days the owner will still be in the property after the closing. Other than trying to negotiate a lower sales price, I don't see that I as the buyer am protected much while the owners are still in the property. From the pictures I've seen of the property (trying to get access to go inside), the place looks pretty clean and taken care of.

Has anyone purchased a property from a wholesale company where the owners had a post-possession agreement like this? If so, how did you work that out with the wholesale company and/or the owner?