Posted by Kristine-CA on July 02, 2002 at 13:45:13:
Matt: 90 days is a long time to tie up a property unless the seller is really motivated. I am assuming you are are offering a low, cash price. Often times the seller will agree to less than what they were hoping for because they have an immediate need for the funds.
30 days is plenty of time to find a rehabber to flip to or to whom you can assign your contract. Also, and this is just a suggestion because I don’t know what investors are like where you are: I wouldn’t call the $5000.00 you are looking to get out of the deal a “finder’s fee” when you are working with buyers. I tell my buyers my asking price and if they agree, I offer them a discount if they will buy my contract so that we don’t have to do a double close and incur those extra costs.
Hope this helps.