All Forum Posts by: Sonja Revells

I have a realtor that is bringing and endbuyer to the table.  

She told me that she will be sending the EMD to a different title company/ one other than what I have specified on the assignment contract. Do you all "require" the EMD to be send to your preferred title company or let the end buyer send it to the one they want to work with? She's saying we can work with our preferred title company but she will be working with the one she wants/knows.

 Awesome!!  I called Jenny's office, FINALLY got a title company that knows what they are talking about!  THANK YOU!!!!!!!!!!!!!!!!!!!!!!!!!

  Thank you for elaborating, this is helpful.  With her sending me her contract, I feel it's overly complicating things.   I am assuming because she is going to make a commission off of it somehow, or maybe she has never bought from a wholesaler before.    

   In regards to backup offers and that the first offer would have to be terminated lawfully before another backup offer would be primary, isn't that from a realtors perspective?   Meaning if I simply give her an assignment contract..... and do not use her realtor contract, and her buyer back out after/during the inspection period ....I could just notify the next solid buyer and assign my contract to them.   

  I'm not familiar with this... what is a Kick out clause?

Thank You Bobby!!   I appreciate it!!  

    And I will keep your information.  :) 

I'm assuming you lend nationwide....?   

You can assign one property per year in Virginia as a wholesaler. 
   Anything more than that and you have to be a licensed realtor, From what I have learned/investigated. 

I am the wholesaler 

I have… But her contract is 10 pages long and I don’t want to miss anything or misunderstand something.

   She also wants to use her own title company and I explained that we have a title company we’re going to use and she said OK.

  Well we’re using this one.
And I don’t understand why two different companies would be used. 

Looking for an investor friendly title company in Virginia that will work with wholesalers. 

   So far, I haven't had much luck finding one. 

Any suggestions?    Would like it if they can also do e-closings.   TIA

I have a property under contract and a realtor wants to go under contract for it, with one of her clients.   

    He wants a 14 day inspection period, which the sellers are okay with.   My question is, how does it work if you want to keep things open for backup offers, incase this buyer doesn't want it?     

Because she's a realtor she's pushing an official Virginia state real estate contract between her buyer and my sellers..... 

but I am the one who should be giving her a contract.   Not the other way around.  She has been VERY aggressive.  

 Regardless, how does it work if a buyer comes to the table but you still want to keep the option for other bids in play?   

The seller's want to close in 60 days, so we have time.   But if we officially go under contract with her/realtor I would assume we cannot, should not keep promoting the property.   I say "we" because I have been very open with the sellers on other offers that came in below their asking price which is firm.  

This is only my 2nd wholesale deal so please bear with me.