new at commercial RE..selling property - Posted by Dee-Texas

Posted by Cliff on July 19, 2003 at 19:55:17:

Sounds like you have a “wholesale flipper” on the line. They want to tie up your property and then try to sell it(by assigning the contract) to an end/retail buyer. If they are truly interested give them this counter: They give you 2500 for 3 weeks to do due diligence, the contract is “as is”, if they don’t go through the deal you give them back 2000. You are taking your property off the “sale” market and possibly could loose a sale, unless you get a backup contract. You call the shots: you are selling on your terms (or at least be a little flexible). If they “really” want to buy, they need to make a reasonable offer. Also, what part of Texas are you in? I buy commercial in TX also. Hope this helps.

new at commercial RE…selling property - Posted by Dee-Texas

Posted by Dee-Texas on July 18, 2003 at 16:10:39:

Hello All,
I have a property that I’m trying to sell. It’s a commercial property in a great location and I have someone that has submitted a contract. I don’t have a clue about commercial properties…so I’m here asking you.
They want to give $2,500.00 as earnest money on a $200K deal for 3 months for a study, if they don’t buy they get the $2,500 back, IF they want another 3 months they give another $2,500 and I get to keep that much if they buy. (comes off the sell price)
They want me as seller to bring the property up to any and all state, fed codes, whatever…
I want them to take it as is I don’t want to bring it up to code, etc. because they have already offered $20K LESS than what I wanted…
AND of course I have 10 days to get the agreement back to them signed.
Can someone give me a head’s up on how THIS game is played with ME coming out ahead of course. smiles
OHH and they won’t tell me what they are going to put on the property.
Thanks to All,