All Forum Posts by: Darvin Ezell

thanks for answering. How do I double close when assigning? Wouldn't I need to have the funds to buy the house from the seller first?

Also, when it comes to earnest money deposit, is that something that i bring up and state the amount or do I let the seller bring up and request?

thanks for your answers ,cleared a lot of that up for me. Are you familiar with Memorandum of Contract? If so, do I make my seller sign that,  or do I just place that with title co.?

Thanks for answering , as far as the buyer earnest deposit, do I have them give me the cashiers check and I give it to the title company or do I have them wire the funds to the title company to hold? How does that work?

I have a few questions about the wholesale process and would appreciate someone clearing up the few questions that I have:

1. Once I get the seller to sign purchase agreement, do I take that to the title company or wait until I find a buyer to sign the assignment contract and just take both at the same time?

2.Do I give the $10-$100 earnest money deposit directly to the seller or title company? I have watched videos where some people said they gave it directly to the seller if its  a small amount like $10 and some say give it to title.

3. If I have a 14 day inspection period contingency in my contract with my seller, Do I give my buyer a new 14 days to inspect once he signs the assignment contract? Or do I give him however much time I have left before my 14 days is up?

4. Once my buyer signs my assignment contract, does he give the earnest money deposit directly to me in form of cashiers check, or does he give it to the title company?

I appreciate the answer. Thank you!

I have been getting all of my info together to go out and try and get my first deal under contract. I need help getting some understanding of the closing date part.

Say for example , find a seller and get a property under contract today, July 30th and I tell them I can close on or before August 29th. I turn in my purchase agreement to the title company.  I find my buyer on Aug 5th (5 days after I get property under contract) and they tell me they can close in 10 days on August 15th. On my assignment contract for the closing date, would I put August 15th, or would I make it the same as my purchase agreement and make it the 29th? My other question is, if the buyer can closer earlier than the date that I have on the purchase agreement, does the buyer just contact the title company and tell them that, and the title company will let the seller know? How does that process work if the buyer can close sooner that the date I had on purchase agreement? Do I contact the seller and let them know if its OK to close on the sooner date?

Also, once I place the purchase agreement and assignment of contract with the title company, Do I let the title company handle everything and just sit back and wait to pick up my check after closing? Any help is appreciated.

I have a Buyer that I am working with to try and finalize my first deal on a commercial property and I have been dealing with the sellers rep. We are negotiating right now but the sellers rep said they are asking for a 3% Buyers Fee? Isn't that the 3% the commission to be paid to the seller, and why would my buyer pay their commission, isnt there seller supposed to pay their commission? Helpful responses appreciated.

I am trying to do my first commercial real estate transaction and the seller/sellers broker is asking for a 3 % BUYERS FEE? Why would the buyer of commercial real estate have to pay a 3% Commission, shouldn't the seller be paying that? Is this normal? Appreciate any answers.

Does anybody have a copy of a master fee agreement document?

Recently I have been making alot of connections with some big buyers looking to purchase multi-family properties. I also have made connections with different seller reps looking to sell these type of properties. Whenever I show the potential deal with my buyers, they usually request a conference. Is there some type of agreement or document to prevent the seller from sending other deals to my buyer or doing the deal without me after having them speaking on a conference call? I dont want them exchanging contact info and me get excluded? Any help is appreciated.