All Forum Posts by: Account Closed

@Adrian Chu The sale & purchase agreement states that the seller must disclose all material defects that may affect the value of the home. I guess what I am trying to say is....hypothetically, in the event that I chose to back out of the agreement as a buyer, is there a certain template that I would use to formally notify the Seller? 

As a wholesaler in Washington I am concerned about a Seller who may not fully disclose material defects that affect the value of the home. 

As a wholesaler we sign purchase and sale agreements before the inspection period. If I want to exercise my contingency to cancel the sale and purchase agreement with the Seller. Is there a certain form I would use to fulfill the statue of frauds?

What would the step-by-step process be? 

I certainly would not want to miss a step and get sued for "failure to preform". 

@Jeff Keller

Good hypothesis! I'll keep that in mind!

Hello, @Ruth Bayang how can I help you *

@Chris Mason

LOL @activate your BS detector. Good advise, honestly. That's what I figured. 

Also, back to answer #1, being that I'm a wholesaler I do not work with realtors or lenders. I'm trying to determine if there is a way that I can pull the property report on my own.

Hello BP! I have accumulated a list of general questions that i would really appreciate the answers too. 

1) I would like to do a preliminary title search before I secure a buyer for my properties. What is the most cost effective way to get this done? Should I go through the title company and request to be charged at closing or is there a reputable 3rd party company that I should use instead? I need to ensure there is clear title and no liens what-so-ever. 

2) If I have an investor that I've never used before and I want to "pre-approve" them I can always get a proof of funds letter if they are using cash. But how can I ensure that they have access to hard money or private money if this is their funding source? They may give me contact information but what if it's just "their cousin"... this may sound a little cynical but do you jut "take their word"?

3) Is there a formula for calculating the earnest money deposit for an investor-buyer? And is it customary to ask for a deposit? If it is not customary, under what circumstances would you ask for a deposit?

4) And finally, is there a formula for calculating a fair assignment fee? 

@Aaron Klein 

I was successful at calling the local title company and getting a list from them :)

Hello!

I am going to be scouting out wholesaling deals in North Tacoma, WA., Downtown Puyallup, and University Place.

Did anyone have any suggestions on which of the three I should focus on? Or, any specific zip codes within those areas that may be considered “hot” or investor friendly?

I would like to find areas that will be appealing to my buyer-investors.

@Mark Fedorov

Yes, I should've been more clear. I was looking for potential questions to ask an investor-buyer in order to see if they would be a good candidate for my buyers list.

@Jim Means

Thanks Jim! I'll check it out!