How To-Wholesale A Property-Part 4-Prepare For Closing And Summary
You have done everything right in finding a property, putting it under contract and now getting an assignment contract signed. Time to go to closing with this. This is not the time to take your hands off the wheel. Closing on properties that have a lot of issues is an art form. You will want to make sure you have an investor friendly title company you are working with because things like mortgages, liens, law suits etc can easily show up. You will have to be prepared to work through these and a good title company can save you a ton of time and money by being experienced in seeing these items.
Assigning a contract is one of the easier forms of making money in the real estate world. The steps and concepts are simple. You turn on your marketing machine as step one. The phone has to ring. Once it is ringing you run appointments to see which properties fit your investment strategy. After putting a property under contract to buy, you then decide to execute the assignment clause and assign the subject property to an end buyer. This end buyer will be a cash buyer and ready to close quickly. Be sure to pay attention to title and be prepared to work your way to closing by being the coordinator of all parties involved. Closing is an art.
Ian Walsh
215.839.3271
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