All Forum Posts by: Alnise O.

Well I did not mean assign the contract, but I meant set up an agreement with a back up buyer. Basically have them sign something that says just in case the closing falls through and you are interested we can do a deal.

Hey Mike,

I was thinking of selling it assigning a contract on it twice. Should the investor pull out last minute.

[b]New to wholesaling REO's. Below I have outlined the process but I have a few questions in between to see if I understand the process correctly. I have a buyer's list and most have all cash. Any responses will be greatly appreciated.

1. Find a deal...I have agents sending me listings, check the Bank sites, and talk to people to screen if they are motiviated.

2. Go with my POF and look at the house. How do I get my investor into the house without cutting myself out of the deal?

How do I get a chance to view the house without the agent there to tell my buyer how much the asking price is?

3. Are there any confidentially contracts [/b]that state my investor can not go behind my back to get the property through my source?

4. I do have a buyer's list as I stated before but, [b]should I make an offer on the house and sign contracts once I have a contract signed by my investor? If not, what should I do?

5. Once the deal is accepted and the contract is signed between me, the bank or REO agent and my investor, [/b]what else should be sign an affadavit? addemun (excuse my spelling error)?

6. Call my lawyer and open up an escrow and have my flash funding source send the money? [b]Or should the investor send the lawyer the money and then I wait until the day before we close to notify my flash funding source to send it? Because it has to be closed the same day.

7. When closing on the same day, I do not want to inform everyone this will be a double closing.[b] Do I have to?

8. When closing on the same day to avoid telling them, [/b]could I schedule the closings hours apart on the same day? Or does the bank or REO agent usually decide the times?

Thanks in advance for all feedback.

I visit to absorb all the information I can and exchange ideas.

I have been strolling through craigslist and search engines looking for FSBO listings. Craigslist does not seem to have really good deals...and there is alot of competition. The sites I seem to find for the FSBO listings seem to have the national do not call registry attached to them. Does "do not call" basically mean do not contact as well? Does anyone know how I could use FSBO listings to my advantage to generate leads? Thanks for any suggestions.