This is my first time coming to the forum and I really love what I’ve learned and I can’t wait to jump in and make this part of my life. I’m currently getting all my ducks in a row, creating my website, getting my robotic messaging system in place, etc!
I’d like some clarification if anyone understands the rationale for something I’ve read or misread in Chapter 8 of the book, PROFIT FROM REAL ESTATE RIGHT NOW!! Under the section that discusses the “Assignment” sale, it gives a list of ways to assign contracts with the least amount of resistance and it mentions finding my buyers first, and I completely understand that conceptually. The book then mentions that I’ll want to help the new buyer run through his due diligence checklist and the new buyer will want to have the property inspected, get insurance on it etc. Did I understand that part correctly?
If this is an assignment situation, and the buyer has cash (doesn’t need a bank loan) to purchase, and it isn’t necessary for me to disclose my investment goal objectives to him, then why would I be helping him with his due diligence? Isn’t that his responsibility? And if I helped him with it and he finds flaws in the property that ultimately got him to back out of the deal, wouldn’t that be counter-productive for me and the entire premise for investing?
Did I misread or misinterpret this part? I certainly want to be forthright, and above board in my practice of investing, but it seemed that this was going above and beyond and almost appeared that I would be shooting myself in the foot if I helped the new assignment buyer potentially see things that should have been his responsibility to discover.
I would appreciate anyone’s insight and I’m grateful to be here learning among like-minded people. Thanks in advance. PJ