All Forum Posts by: Sean Gallagher

alright thanks! Scott I sent you a request to become a colleague if you don't mind. Again thanks for your input!

thanks Scott!, its a tough one you made some very good points, its deffinitely something that has to be asessed in the purchase agreement, I want to make it fair for both parties.. But in a way my investor is the only person I want to really satisfy in the long run. If I get the deal i get the deal so I'll probably leave the contract as it is, and if there is some type of dispute I will modify the contract to some extent, anything to close the deal and make a profit would be best in my opinion.. even if it means myself taking a cut.

ok thanks a lot Jon, lol 2% of 60k is 1200.. isnt that something.. So I'm hoping the seller will be ok with covering all closing cost.. since it seems that the guy who made up this contract is getting away with it and he is doing 50 deals + a year.

Does anyone else require the homeowner to do things before closing on their own time/ out of their own pocket? Such as a wood destroying organism report?

I have a contract right now used to wholesale and its puts all closing cost on the seller.. Is this fair? Usually most serious investors are dealing with cash so there isn't as many closing fees compared to a lending process but there are still some fees that if I was the seller I would feel like I shouldn't have to pay. Like things that are for the buyer or at a buyers request, such as a survey, and say the buyer wants it appraised, thats in my contract as well for the seller to cover.

How much are closing cost usually on say a 60k cash purchase? I estimated approx 1200.00, am I close?

anyone else have anything to share about what I wrote?

thanks Charles I appreciated your words of wisdom, i've been doing a lot of searching, I know not everyone with great information is going to come to me! the info is out there.. its just finding it, good usefull info.

alright I have an assignment contract, any chance i can see your buyer contract? what other contracts are needed?

nevermind, i found what i need.

so you have to put how much compensation you want* from the deal on the assignment contract?

Assigntment contract as well as the buy and sell