Posted by Kim Campbell on May 03, 2006 at 09:21:02:
I am in Kentucky. Thank you for the offer though.
First Deal Slipping through my fingers - Posted by Kim Campbell
Posted by Kim Campbell on May 02, 2006 at 21:09:00:
OK. So I have a great deal that is about to slip away. What I want to do with the property is rehab it, but I am having trouble with financing. My next option is to wholesale it, but I don’t know where to turn to sell it or even how to go about it. To make matters worse, the contract has a no assignment clause so even to wholesale it, I would have to have the funds to acquire it first.
voice activated phone telephone disability - Posted by sue
Posted by sue on May 06, 2006 at 17:24:25:
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Re: First Deal Slipping through my fingers - Posted by Tom NH
Posted by Tom NH on May 03, 2006 at 11:38:39:
Run this ad in the local newspaper:
Handyman/Investor Special, Cheap, Cash, (XXX) XXX-XXXX
That should get your phone ringing, or so I’ve been told.
Also, if you can’t assign the contract, find a title company or attorney that will handle a double closing. Instruct the closing agent that the funds to close the first closing will come from the second closing. They should also notify the seller that they won’t be receiving a check right away, that they could pick it up later on in the day (they could say that they have to make sure the title checks out ok, or something to that affect). Also instruct them not to disclose to either party about the other transaction.
Hope that helps.
- Tom
Re: First Deal Slipping through my fingers - Posted by dutch
Posted by dutch on May 02, 2006 at 21:35:45:
Most contracts are assignable UNLESS specifically forbidden. You’ll need to make sure that is true in your state. But you just learned a lesson, ALWAYS have an assignment available on your contracts WHEN BUYING (not always good when you are selling).
Call all the WE BUY HOUSES ads in your paper. If it’s a deal, someone will buy it. If not, I sure hope you have a contingency clause.
Dutch
OKHomesavers
X-rating doesn’t work - Posted by Cletus’ friend
Posted by Cletus’ friend on May 03, 2006 at 12:10:38:
That X-rating thing is over-rated. I tried that newspaper ad with the (XXX) XXX-XXXX. The phone never rang once. Betcha a lot of folks were frustrated.
I had much better luck putting up a sign with your entire ad on it next to my building. Wow! Had every trucker and traveling salesman around pulling up to it. None were interested in buying. The building, that is. They were cheap, and they had cash too! No sale. I must be in the wrong business.
:o)
Re: First Deal Slipping through my fingers - Posted by Kim Campbell
Posted by Kim Campbell on May 02, 2006 at 23:04:41:
Lesson learned. Sadly, there is only one I Buy Houses ad in the papers here and he said he would take it if it were closer to him. I have sent the info to several online buying companies, but have yet to hear back from them.
My contingency is to counter and ask that assignment restrictions be lifted. I am pretty sure doing that will make them back out. I just want to give it a couple more days to be sure I can’t find a way to make it work first. And if they accept, I will be open to wholesale.
Re: X-rating doesn’t work - Posted by Kristine-CA
Posted by Kristine-CA on May 03, 2006 at 21:18:41:
There is nothing like XXX and then not providing the goods when it
comes to frustratin’ folks. You are lucky you are still in one piece.
Re: First Deal Slipping through my fingers - Posted by DoubleJ
Posted by DoubleJ on May 03, 2006 at 07:59:34:
Having only one I buy Houses ad in the paper is a great thing!
Sounds like you dont have a lot of competition.
Re: First Deal Slipping through my fingers - Posted by Kim Campbell
Posted by Kim Campbell on May 03, 2006 at 08:34:44:
True. And that is why I have gone this direction in this area. There are also no “rent to own” ads in the local papers. Real Estate investors here want to fix up to rent, not sell. And many of the available properties here go at a steal as the landlords are just deciding it is too much hassle. In other words, its a wide open market. I just need to find the funds to get the ball rolling.
Re: First Deal Slipping through my fingers - Posted by DoubleJ
Posted by DoubleJ on May 03, 2006 at 09:02:08:
If you were in Florida or North Carolina I could help you find funding.