working with agents who have contingent contracts


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  • Jackie in your HBS manual you mention working with agents who have contingent contracts to find HBS candidates. what do you mean by that? can you please elaborate more on this?

    it is extremely hard to get any real estate agent to work with you for a highest bidder sale. There is not enough room in the deal for them to get paid and you to get paid too. The agent will need to agree to a reduced commission to make it work.

    So a real estate agent should be your LAST resource.

    If they have a listing that is about ready to expire, they may… repeat MAY… be interested in trying something creative to get the house sold if they have a very motivated seller.

    You’d need to get the agent and the seller in the same room at the same time to explain how a highest bidder sale works. The seller would need to lower their price most likely. Then you;d get an OPTION (contingent contract) to buy the house, subject to you being able to find a suitable buyer during a highest bidder sale.

    When the house sells…Instead of doing a double close it is much easier if you are paid a release fee for your option contract to go away. The release agreement would be turned in to the title company or attorney along with your contingent contract and the buyers contract.

    make sure you have iron clad written agreements signed by all parties so the agent cannot screw you out of your fee.

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