All Forum Posts by: James Lopez

@Bob B. 

Thank you for the feedback Bob.

@Tim Patrick

Defiantly, thank you for the feed back Tim. I do have an experienced RE agent as a Bird dog on my team which is where this lead came from and she has worked with me on the numbers but i guess its just nerves since its my first deal.  Basically just wanted to make sure that i can still back out in case inspection showed something way different and what i would need to put in my contract to cover my self in that case.  Figured it was something pretty standard just wasn't to sure if there is a specific way to word this on the contract?   

@Bob B. 

Basically yes. I do have the funds to purchase the home but don't have the funds to hold the home for to long or consider rehabbing it my self. I have an idea of what the rehab cost should be and i am working with an experienced RE agent so i feel comfortable with the ARV. There is quite a bit of spread for a few surprises on top of the estimated rehab cost. But in case im totally wrong and we find something that i have completely missed just wanted to have something in my contract that states i can still back out in case any surprises are found. This home is in a very desirable historical district so don't feel it would be much trouble finding a buyer unless rehab cost are way to high or my purchase price was to high to start. I feel i have done my homework on this one enough to go for it but since its my first deal i dont want to assume that i have done every thing perfectly and not have a contingency plan.

Definitely don't want to waist the sellers time as well but this looks like a deal for sure.  

It is birddog lead from a veteran real estate agent i am working with. 

Also have confirmed with my buyers list that this is an area they are interested in.  

Just wanted to see what i could add to the contract that allows me to do this?

Hi my name is James Lopez, i am new to the business and about to put my first offer for a whole sale deal in San Antonio TX.  I am just a little stuck on how to protect my self on the contract in case my buyers see a higher rehab cost than i am expecting and im not able to complete the sale.  This deal looks promising in a very desiring historical area but being that it will be my first deal i just want to make sure that i don't get stuck on a contract for a home that i have no plans on keeping. 

Any advice is much appreciated.