Section 8: Video – Controlling the Resale

This lesson covers the process, approach and procedures we use once we are about to go under contract and once we are under contract to stay in control until closing.

0:00 – Introduction

:15 – Why it’s necessary to stay involved on the resale

1:50 – Contingencies to require in contracts

(you may or may not require these, but I like controlling the sale as much as possible). Also, when it comes to disclosures, you must disclose material facts. Speak to an at torney with any questions.

5:15 – Talking to the Buyers lender before accepting a contract

11:41 – Response time to Counter Offers/Going under contract

14:22 – Buyers inspections

17:17 – Appraisal phase on your flip

19:54 – Repair Requests and negotiations

25:11 – Your MLS status during the Due Diligence phase

26:26 – Underwriting and loan updates

30:07 – Tasks to do before closing

32:56 – Items to do at closing

34:28 – What to do with your closing proceeds

38:25 – BONUS TIPS –what to do with your PROFITS

43:17 – Creating product lists from your materials

44:51 – Organizing your flip/project files

47:39 – What to consider after your first flip to better on the next