Hey, don’t knock it til you try it, right?
THE DADS have had many situtions where the seller’s lien balance was too high for our offer to work, so instead of just walking away from the opportunity, THE DADS decided to just ask for cash from the seller. ….AND IT WORKED!!!
THE DADS have had 2 deals where the seller has said “OK”. Our best and first time this worked, the seller gave THE DADS their property deed SUB2, their keys and $5K cashier’s check all at the closing. And this property was a gorgous 2,500+ square foot, 4/2.5 with white rock exterior in perfect excellent condition in a great neighborhood. SWEET!!
So, THE DADS kept asking since….and THE DADS have had 1 other seller give us cash and their deed. We wholesaled a contract on a very ugly house needing full rehab to our RE Investor buyer for $7K and THE DADS got seller to give us $3K, so THE DADS got $10K total at closing for a wholesale deal…..happy sellers, happy buyer and THE DADS were pretty happy too! 🙂
NOTE/TIP: The RE Investor buyer above then fixed and flipped it to retail buyer for a profit of $25K+ (win-win) and since has bought 2 other wholesale deals from THE DADS, so remember to leave plenty of meat on the bone for the rehabber, and if you want bigger assignment fee, do what THE DADS did and just ask the seller to contribute some cash at closing.
Moral Of The Story — Ask for $$CASH$$ with the deed!!!