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.