How long do I have to find a buyer? - Posted by mia

Real Estate Investing
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Posted by jeff on July 08, 2002 at 17:45:29:

have you got a list of potential retail buyers yet?

this list can be used for a quick sale also. when you get calls from people wanting to buy, put their names and requirments for a property on your list and when yuo get a property you can now refer back to your list to see if anyone is looking for something similiar to your place. this will also give you a good figure to ask when you call these people sionce you get their financial requirements also. with enough lists built up of enough people, professionals, etc. you can do quicker sales usually.

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How long do I have to find a buyer? - Posted by mia

Posted by mia on July 08, 2002 at 15:45:14:

Once my offer is accepted (made through my realtor) how long do I have to find a buyer?

Thanks,
Mia

3

Re: How long do I have to find a buyer? - Posted by jeff

Posted by jeff on July 08, 2002 at 17:20:21:

that depends on your investing strategy and your individual contract.

the standard purchase contract is generally 30 days.

but you have as long as it takes to find one if you actually intend on buying the place and then resaling it. if you intend on flipping or assigning, then you got 30 days nuless your contract says otherwise usually. you can sometimes get extensions if both halves of the contract agree upon it.

what is your investing strategy?

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Re: How long do I have to find a buyer? - Posted by mia

Posted by mia on July 08, 2002 at 17:35:36:

Thanks for the response Jeff.
I plan on flipping junkers until I can get some cash saved up.
My realtor understands what I’m doing, and is willing to submit lots of offers knowing that most will not be accepted.
I have met a few investors who do rehabs in my area, but want to make sure I have enough time to find someone else if they aren’t interested.
I also have bandit signs and fliers out, and have done a few mailings to landlords, but no calls yet.

Thanks again,
Mia