1st Deal.......Please Help - Posted by JK

Real Estate Investing Real Estate Gurus
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Posted by Tony on January 16, 2002 at 19:07:08:

I am very low on cash right now so how do I tie up the contract?

Find try a 100 dollars. If you don’t think he will buy that borrow more money from somewhere.

And what are the time constraints of finding a buyer?

The time is what ever you setup in the contract and can agree with the seller.

Say for some reason or another I don’t “flip” this in the alloted time? What happens then? What are the risks?

Put in a contingency clause of some sort like a partner has to approve or something. Then if it doesn’t work out you can back out.

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1st Deal…Please Help - Posted by JK

Posted by JK on January 16, 2002 at 12:00:18:

I found a seller that is willing to sell his house way below market value. I want to tie up the contract and either assign my contract over to a buyer or set up a simultaneous close between the seller, myself, and my buyer.

I am very low on cash right now so how do I tie up the contract?

And what are the time constraints of finding a buyer?

Say for some reason or another I don’t “flip” this in the alloted time? What happens then? What are the risks?