Los Angeles Real Estate Investors know, once you have a signed contract, there are a few ways the deal can go south, even after signing.
Every seller is going to be different.
Wholesalers need to remain mindful of all situations.
Sometimes sellers will get cold feet, and others are just not trustworthy.
Los Angeles Real Estate Investors – Ways To Avoid Wholesale Deals
Not Verifying Correctly
Los Angeles Real Estate Investors say, the signer verification is one of the most important part of the process.
If there were multiple owners, all signatures from the property are needed, the transaction can and will stall.
Wholesalers do not have access to all the legal documents as others might.
Because of this, there has to be more trust with the owners.
Once you have to submit a contract with all supporting documents to an attorney.
Once due diligence is completed by an attorney, they’ll go through all documents to see how many signatures are needed.
Tenants Denying Access
Los Angeles Real Estate Investors say, when wholesaling, there will be many different situations to go through.
The contract should be clear that you require access to the property during all inspections.
This is absolutely mandatory, although, most of the time tenants aren’t that trustworthy.
The landlord has to give a 48 hour notice, but sometimes tenants can be problematic.
Los Angeles Real Estate Investors say, sellers will have to produce a clear title before transfering anything.
In certain states, you can do a title search conducted by an attorney or by the title company.
Sellers may not do this intentionally, but is does occasionally happen.
Los Angeles Real Estate Investors say, there are other ways.
A buyer could back out from the deal.
In certain situations, inspection produce concerns.
Wholesaling as an intro to real estate investing needs to be approached with an open mind.
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