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Showing results for tags 'wholesale'.
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I spoke with my lawyer today about pure options. Lawyer with over 30years of Experience is telling me that I can't Contract a property even if it's a Option to purchase agreement without deposit money in Escrow. Even If I wanted to assign, or double close I need to have a Escrow Deposit to have total control of the property to market and re-sell. What are your thoughts? Is this lawyer someone I should be working with to handle my Deals? I hear many stories of No Money down deals. Or even people having their buyer place the money for deposit but if that's the case you don't have a contract because the option or purchase agreement is not binding. I'm a little confused here. For Example : Seller wants 100k - Comps come in 150k - 185k I contract the property for 100k with a option to purchase my plan is to sell the property for 120k 20k spread. what's next after I have a few buyers in mind that would purchase this property in a heart beat -
Hi All I have been getting a lot of email from a wholsale investor Just wanted to clear up something When we would use our (Michaels) pure option this is the same concept the wholesaler is doing Correct? Thanks Tom
