I Had this Nagging
Feeling…
Both houses were resold as wholesale
deals. Not only was I getting a little
nervous, but my end buyer was
concerned as well.
I called the seller again to talk about
the removal of the final items which
would fill up at least one more box
truck. He said he would be there on
Wednesday which would be two days
before the closing.
Well, it rained on Wednesday and I
guess he didn’t want to get wet. He
said, “I’m not moving that junk in the
rain”. At that point he admitted that he
probably wasn’t going to be able to get
everything out before closing.
After some discussion, my end buyers
agreed to give him a few more days
after closing with an escrow holdout of
$1500.00. They were a little concerned
that he might not show up (valid point),
so they had already scheduled a junk
removal company to come the first
thing Monday morning. The seller was
advised of this plan so there were no
misunderstandings. The junk removal
company had been to the property and
Getting Our Ducks in a Row
We signed the appropriate paperwork at the closing, and the
seller was told to call when he was coming so someone could
meet him at the house. Since the end buyers were now
responsible for the contents of the house, he was told the locks
were going to be changed that day.
Phone numbers were exchanged and everything was set in
place. The new buyers were very flexible and told him that he
could come at any time since they lived close by. They made
sure he knew someone would be available to let him in with a
short notice. They also offered to help load some of the heavier
items. All he needed to do was make the call.
The buyers just wanted to get it done and move forward. They
were rehabbers who were used to buying wholesale deals so
they knew how this worked.
Nothing Happens as Planned
To make a long story short, the seller didn’t call the buyers but he
did show up at the house on Sunday unannounced.
had given the buyer a satisfactory
price for the removal of the items
which would be less than the $1500.00
Case Study – The Tale of 2 Wholesale Deals
escrowed.
49