All Forum Posts by: OREESHA MCCREARY

Shaun,

I have 3 contracts— Process without an agent

A. The Seller and myself sign on an agreed upon price (to begin marketing the wholesale deal)

B. Once I find a buyer—The Seller and Buyer sign a contract (to send to the Title company)

Then I have a signed fee agreement that allows me to receive my fee. I also go into the transaction honestly telling the Seller that I am receiving a fee for finding a Buyer for the property. That gets my fee agreement signed. 

This has been done several times and have had no issues with the process. 

With an agent: You will have to use the PAR agreement that the agent provides. The Buyer will usually pay the agent commission directly. You will have the Seller and Buyer sign the PAR and you send a fee agreement to the Title Company along with the PAR agreement.

No I don’t have a problem as to where he wants it to go. I just wasn’t sure how it worked with it being somewhere else that’s all. As I’ve mentioned this is my first deal and I’m learning as I go. I’m excited and nervous all at the same time...lol! I appreciate all of your help. Thank you!

Agent also stated that the buyer will pay her commission directly and that he would like to get going on the inspection.

I just want to ensure that I have every T crossed and I dotted and that I am doing every step accurately.

@Patrice Penda I placed my deal on Craigslist, FB marketplace, and in a couple of real estate investor groups on FB where agents and investors hang out. 

@Brent Coombs I wasn't really sure.  Here's whats happened so far. The agent submitted an offer from the buyer on her purchase and sales agreement. I then accepted the offer. 

I wasn't sure how to go about getting the buyer to sign my assignment contract.

So are you saying that I would send my assignment contract to the agent to have the buyer sign and then take all paperwork to the title company? 

Also, the agents contract stated that Keller Williams would hold the $500 earnest deposit. I want the earnest deposit to go to my title company so how I do I change that?

I am conducting my first wholesale deal. The Buyer has a real estate agent. I need someone to tell me step by step how to complete this transaction. I'm only aware of how to complete the transaction with someone who does not have an agent.

Thank you in advance!

Initially the asking price was 13k. ARV $75k. That would have been my fee along with the $8500 mortgage. This buyer in particular wants to take over the mortgage and refinance while doing the repairs. Basically doing a subject to. The home is in need of total rehab about $35-40k. I would rather find a buyer who will just bring cash to closing. This is the first offer that I received and I really just want to get rid of it.

Hey All!

Let me say thank you for your help in advance!

I have a property under contract. The owner has a mortgage of about $8500 left on the property and that’s all that she wants is the mortgage to be paid.

I have a buyer who is interested in the property and would like to take over the mortgage and give an additional $1500 ( which would be my fee). The buyers stated that he will eventually refinance the property.

Here’s my question. How do I go about doing this? How can this buyer take over the mortgage and how do I get my fee from this? What steps need to be taken, etc?

Thanks!

!!AWESOME OFF MARKET DEAL!!

Single Family Home 

2bed/2 full bath

Needs full renovation

ARV $65k

I want to learn everything and then scale it down to a level of expertise of my field of choice. I believe that you have to start with the basics and master those skills (taking basic real estate classes for example) and then going from there. Next, I believe that you have to network, watch, learn and take advice. Ive been reading alot and learning, but I still feel like a couple of pieces to my puzzle are missing. Ive decided that Im interested in fix and flips and wholesale. 

@Matthew Ficorilli 

That is great! I do have a question, I am trying to locate free real estate seminars in the area. Are you aware of any or where I can find the information?

Thanks!