First Wholesale Flip Jitters - Posted by Doug

Posted by Doug on December 11, 1999 at 09:21:17:

Well I landed my first wholesale flip last week–a 3 bedroom house listed for $54,900 but sold $62000 ( 11 offers from investors within 24 hours of listing–sight unseen), valued at $95000. I found an investor who buys cash and assigned him the contract for $3000. It went really easy axcept for this is a divorce situation and viewing the property almost required an act of congress.

I guess I’m a little nervous however, that everything will go smoothly. Should my agent tell the listing agent that we assigned the contract? How can I control this so that it closes OK, when for all intents and purposes I’m out of the deal–except for the money he pays me at closing. Should I be in contact with the title company (his) to keep abreast of what is happening? What should my agent be doing, etc., etc., etc.? Am I spazzing out for no reason?

Any help would be most appreciated!