All Forum Posts by: Bryan P.

Will,

Oops-I meant the seller. What if the sellers asks what the clause means? How does the conversation work between the wholesaler person and the seller if this occurs?

Will-

What happens when the buyer says "What does this clause mean?" When you actually explain it, you might have a nice interesting conversation on your hands. how does that work?

Derek (or others):

If I am a seller, why in the world would I allow a buyer to sign a purchase/sales agreement with me with a clause that allows them to walk away if an end buyer cannot be found?

How does the conversation go between the buyer and seller?

This has to be basic for me. I know nothing so any talk beyond basic will confuse me.

So what is the risk for the wholesaler? Is there a clause to "get out" or something?

If a seller gives the wholesaler control, via a contract, who has the burden of risk if the property doesn't sell?

Do you acquire control over a property without actually buying it? When you say assign, what does this mean?

How can you buy a property without funding? Do you find the property first and then contact your possible funding sources?

Ok-so just learning about wholesaling...

How does this private financing work?

Let's say I find a nice property for 50,000 and the value is 65,000. Will a private lender see the value and thus lend 50,000 for the buy? What is the usual terms for this sort of thing?

Also-if the wholesaler acquires private money and cannot reassign a contract within a certain amount of time, what happens? Is the wholesaler screwed? In other words, what do wholesalers do in this situation?

-Bryan

Rob,

I'd be interested in talking with you. Email best?

If you have a seller selling a SFH for 25,000 and you find a buyer that will pay 28,000 for the home, they will find out that they overpaid when they get an appraisal back. Therefore is it true that only cash buyers work? I'm thinking that any time a bank loans money, they're going to want an appraisal that the buyer will eventually see.