All Forum Posts by: Randall Gillette

Question, any help from anyone in this post is appreciated. I am close to closing a deal. I just want to make sure I am doing things in the correct order. As the wholesaler my name goes on the purchase agreement. I then have my buyer sign the assignment contract. (I will let my buyer see the purchase agreement and provide full disclosure etc) Once agreements are sign and obligations are met my buyer will deposit the money with the closing agent and fees will be distributed by closing agent to the appropriate parties. Cost of property to seller, closing fees to title company etc. And my assignment fee. Anything I am missing here? Quick feedback would be most appreciated. Thanks

Question, any help from anyone in this post is appreciated. I am close to closing a deal. I just want to make sure I am doing things in the correct order. As the wholesaler my name goes on the purchase agreement. I then have my buyer sign the assignment contract. (I will let my buyer see the purchase agreement and provide full disclosure etc) Once agreements are sign and obligations are met my buyer will deposit the money with the closing agent and fees will be distributed by closing agent to the appropriate parties. Cost of property to seller, closing fees to title company etc. And my assignment fee. Anything I am missing here? Quick feedback would be most appreciated. Thanks

Justin McClelland---yes was helpful

Thanks

Question

When doing a deal. Once I get the property under contract what type of closing fees would I incur and how do I find out how much they would cost. Also who typically pays those, the buyer?

The property in question needs no repairs. I simply want to put it under contract and assign it to the cash buyer. I need to give my buyer an estimate of the closing costs. feedback is appreciated.

Thanks

Bruce I took you advice and contacted a realtor that I know "but not the well" I asked her if she would be willing to do what you requested and this is what she came back with. My gut tells me she isnt being upfront with me. Feedback or suggested response I should send her? Here is her response:

Well, if I had that information I would be the happiest person out there. :) Our MLS doesn't let us search on cash buyers and it doesn't provide the name of the buyer, let alone the contact info. I can tell you that the GIS has names and addresses on the sales disclosure that is signed at closing. You can't really pull sales by date ranges, etc but it has this information. It doesn't allow you to search for only cash buyers. The type of list you are looking for is something that many of us spend years working on. I have a great investor list but it doesn't isolate to cash investors and it isn't something I give out.

Bruce Duval@ my previous question. I was able to get the answer to this question.

Thanks

How would I find out what the most easily rentable house in my area would be? As far as bedrooms, bathrooms, etc.

Bruce thanks for the feedback. I have plans to join the REIA however the town I am currently in does not have a group. I am starting locally in Indianapolis IN which is 60 miles away and a better market. Im certainly not letting anything stop me from finding sellers however it doesn't do me much good if I cant move the property. Right now I dont have access to a Realtor that can do that for me as far as the MLS. Would you or would someone that you could direct me to be willing to pull a list from the MLS of all the cash sales in the Bloomington and Indianapolis IN area within the last 90 days that shows who bought the property, where and for how much and any available contact information for these buyers.

This is something that would be very helpful to me.

Thanks

R

Does anyone have any suggestions on how to attract cash buyers via craigslist and some example of ads that you have used that worked. Thanks for the help.

R

Hey Bruce,

I need some guidance. I am new to wholesaling and I am in the process of trying to track down some cash buyers. Some of the posts I have read make is sound like people are getting houses under contract before getting a cash buyer. I could be understanding this wrong. If I had to guess they just mean that they already have a buyer and the property fits the profile so they just go ahead and get the property under contract. It also seems like some cash buyers just want a deal sent to them to look over? Seems like a big waste of time to send something over to a cash buyer without knowing first what they want. I want to make sure Im on the right path with what I want to achieve when I talk to potential cash buyers. My goal right now is to first find cash buyers, find out what they want and find it for them. Is this the correct process?

Also. in your opinion what is the best way to find serious cash buyers?