| "> | | | | purchase' contract, but are written in such a manner |
| You may be concerned that your potential new real | | | | that you can easily pull out of the property sale |
| estate opportunity and whether you are really flipping | | | | without worrying about the homeowner suing you |
| houses legally. This process is legal when done | | | | for not closing the deal. Some clauses are more like |
| properly! | | | | 'weasel clauses' that allow the investor to pull out of |
| Yes, some scam artists have taken advantage of | | | | a property sale for any reason on very little notice. |
| the wholesaling process to scam the homeowners | | | | There are good reasons for inserting clauses in your |
| and their buyers. In addition, house flipping, has gave | | | | purchase agreement. You may learn that the house |
| rise to many inexperienced investors making plenty | | | | needs major repairs that would screw up your profit |
| of blunders and losing cash in their investments. | | | | margins or are looking for a specific kind of house for |
| You and I both know that you're not going to take | | | | a buyer and learn that the property doesn't fit. |
| advantage of the buyers or the sellers. In fact, | | | | When flipping houses legally with the homeowner let |
| wholesaling offers a win-win situation for everyone | | | | them know that the purchase is contingent on your |
| involved in the deal. You just have to beware of | | | | being able to find a buyer. You'll be surprised how |
| scams that can pop up. It's also a good idea to know | | | | many homeowners still want to sign that contract |
| what kinds of scams these con artists are also | | | | with you. Many homeowners are just glad that |
| running. | | | | someone is actually interested in buying their home |
| Why are People Wary of Wholesalers and House | | | | and are willing to wait a little while for you to find |
| Flippers? | | | | that buyer. |
| It was incredibly easy for a buyer to get duped or | | | | There are Advantages to Flipping Houses Legally! |
| just be overly optimistic about purchasing real estate | | | | Show any wary homeowners and buyers that there |
| for way more than its worth when looking at a | | | | are plenty of benefits to wholesaling and flipping |
| house. Part and parcel of making a sale, especially | | | | houses legally. The homeowner gets to unload a |
| when flipping houses legally is to make the buyer fall | | | | property that's costing them money, time and |
| in love with the house. A duped buyer is then stuck | | | | energy. The buyer gets a cheap property that they |
| with a property they can't make a profit on or a | | | | can still sell for a profit of their own, live in or even |
| mortgage that they will have a hard time paying for. | | | | fix up and rent out. This is because you'll only be |
| One popular scam that con artists use on buyers is | | | | marking up the price on that wholesale property a |
| to work with a crooked home appraiser who values | | | | little bit. Plus, you can pay a little extra cash to any |
| a home for far more than it's true market value. | | | | person referring the homeowner or the deal to you, |
| Then the investor gets larger profits on a property | | | | creating an extra benefit for the homeowner's friend |
| and the buyer gets stuck with a loss of profits and | | | | or family. |
| even bad credit when they realize they can't pay for | | | | Lastly, you will get to take home cash profits for |
| the home and make needed repairs or even sell the | | | | little work and even less money down on the |
| property for enough to cover the mortgage. | | | | property. |
| Weasel Clauses in Those Contracts | | | | You have nothing to fear when wholesaling and |
| You'll also find some buyers and sellers who've been | | | | flipping houses legally. The practice of selling real |
| burned by contracts with weasel clauses. These are | | | | estate is only as good or as bad as the investor |
| clauses that you can add to any 'agreement to | | | | whose selling that house. |