Updated almost 5 years ago on . Most recent reply
Wholesaling deal with owner wants a bank financed offer.
Hello,
I am trying to wholesale a deal with an owner who will accept a bank-financed offer. He does not want to owner-financed and is interested only in getting the highest price he can for the deal. It is a new home built in 2019 so it will pass 4 point inspections with no problems.
My question is - how do you structure the contract in this case? Do you assign or double close? Does it matter?
Do you get your assignment fee only when my end buyer closes on it? I am worried about the longer closing times and if the end buyer then decides to not close the deal.
Looking for insights on how to best handle this.
Most Popular Reply
@Bernard Sanga I would start by asking yourself, is there any deal here? He wants the highest price possible on a brand new home. You can only make money if you can negotiate a huge discount, which appears unlikely based off the info you posted.
Personally, I would spend your time on another potential deal and pass on this one.