Urgent: Wholesaling Owner Occupied Home - First Contract

[Bill Mitchell]

I just got my first property under contract here in DFW Texas. The issue is this property is a personal residence and owner occupied.

I assume like a good Realtor, I should not instruct the homeowners to move until everything looks secure. From checking out the buyers proof of funds and getting an extra high non refundable earnest money deposit. In this case $5,000 (credited to final sales price of course).

My fear is, even with 5k non refundable down and checking out buyers proof of funds and flip history, what if for some reason the buyer gets cold feet the day of closing? I have already green lit the homeowners to go ahead and get ready for the move so the house can be vacant the day of closing. If the buyer were to back out on the last day they have already moved. The best I could do is give them the homeowners the 5k deposit, and turn around and try to wholesale the property to another buyer quickly by reducing my assignment fee to nothing.

I have my clients best interest at heart, and I don't want anything to fall through, and I sure as heck don't want to be one of those wholesalers that show up on the channel 4 news for doing something deceptive.