Posted by John on July 15, 2005 at 11:34:44:
Find your buyer(s) first. Find out what they want and how long it takes them to close on one that meets their requirements. Then write the contract, to work in that time frame.
contract, how many days closing a wholesale? - Posted by graig
Posted by graig on July 15, 2005 at 10:01:22:
I was told that every standard contract has the clause that the seller is to provide you with free and clear title. This means that all liens have to be satisfied. Most contracts will mention that the seller has 30 days to cure any problems that may arise. So do most people buy a wholesale deal with 45-60 days to close?
What is the norm for these timeframes(lien clearing/buying)
John’s right, buyers first. - Posted by Brent_IL
Posted by Brent_IL on July 17, 2005 at 19:47:31:
I’ve learned a lot about CREI because I’ve screwed up many, many times, so listen. One source of drama can be eliminated by developing a real buyer’s list first and restricting your offers to those properties that can accommodate your ready cash buyers.
A suggestion is to review newspaper archives from past years to get the telephone numbers and names of “We Buy Houses” people. Match them up with those in current issues. If they are still advertising today, they will have the cash and experience to do your deal.
Re: contract, how many days closing a wholesale? - Posted by KPC
Posted by KPC on July 15, 2005 at 10:54:15:
Problems that take time are kind of rare and extensions can always be written. I like to offer a quick cash close, like 10 days, give or take. Sometimes this is motivational for the seller, especially my favorite kind of seller, desperate. I will even go to a shorter close if I can get my inspections done and act together. Also, the more time given to resolve problems, magically, the more time they take.
Re: contract, how many days closing a wholesale? - Posted by graig
Posted by graig on July 15, 2005 at 10:57:00:
That makes sense. In a wholesale situation though, I need time to find a buyer so how long then?
Re: contract, how many days closing a wholesale? - Posted by KPC
Posted by KPC on July 15, 2005 at 11:02:56:
sorry, I was only thinking from my perspective, I buy and hold. Someone else help us please?