I’m Dave Dinkel and I’ve been a real estate investor since 1975.
I’ve been involved in over 10,000 closings.
I do hundreds and hundreds of real estate closings every year.
I’ve been called “America’s Foremost Transactional Funder”.
My website is BestTransactionalFunding.com.
I do same-day double closings in 40 states, so I’m literally involved in closing wholesale double closings every day.
If you feel stuck or confused about real estate investing, that’s natural and it can be overcome.
But what happens when you have a seller or a buyer that doesn’t want to come the closing?
You’ve suddenly lost weeks or months of time and money. It’s a sickening feeling.
It overcomes you and you feel helpless.
It shouldn’t have to happen.
What I believe is that the greatest threat to every investor, wholesaler, rehabber, or realtor® is very simply a seller saying, “I’m not coming to the closing.”
I have a guarantee for you – even if you have never had a default, you will!
Every day I get at least one phone call from either a new or experienced investor, lamenting that their seller or end buyer didn’t come to the closing. I first walk them through the symptoms of what started the problem and what stage they’re at now.
Often they call me literally from the closing table in utter anguish to see if I can still close their deal. But unfortunately, of all the ones I speak to, they constitute a minute fraction of the deals that are lost every day. I found I was offering the same advice repeatedly to help get the opposing party so to speak back to the closing table.
It’s a sinking feeling when you think about what happened or what I do wrong. I’ve encountered 20 reasons what I call excuses why sellers and buyers don’t close and that’s the reason for this complete course – simply to stop this insidious threat to your business.
Seller Defaults – the most common problems are seller’s remorse or often times they get another higher offer from another investor.
Buyer Defaults – Buyers often default because they tried to resell your deal and their buyer canceled.
Seller and Buyer Defaults – Sometimes both the seller and the buyer cancel and ironically it could be because they are in cahoots with one another because the end buyer circumvented you and went directly to the seller at a better price than yours and the seller get a better price then you were offering him.
One of the growing ones though is Closing Agents Suddenly Deciding Not to Close. This issue is becoming more and more prevalent since many states started cracking down on using Assignment of Contracts.
Well now you can have solutions for the question that I get nearly every day-
“What I do now?
Sometimes reasons are complex like probate issues or chain of title issues, all of which can be resolved, but it’s a lot easier if you understand that they’re coming and you have time to work them out. Knowing about these issues well before they happen would have resolved or solved many of the failures that I’ve seen.
“Hasn’t happened to you?”
This is a common comment that I hear but the only reason is you’re very, very, lucky. You should be playing lotto, or you haven’t done enough deals. It will happen to you as you do more and more deals even if you assign your contracts.
To give you an idea of the enormity of the problem, the annual estimated loss from failed closings is 5.5+ billion dollars, and personally I think it’s even more.
I see these every day in my BestTransactionalFunding.com website where investors are calling me and telling me here’s what’s happening. Because of my BestTransactionalFunding.com business, I see thousands of closings.
Unfortunately, I’ve also seen thousands of failed deals because the investors didn’t know what to do until it was too late. I’ll be giving you the information of how to make money even if your seller doesn’t close and it’s not simply filing a breach of contract lawsuit.
There are 20 reasons why sellers and buyers decide not to close. What’s important is the average loss is estimated at $21,400 per deal!
If it’s already happening you, you know exactly how costly it can be and I did a video on two defaults recently. The first default resulted in a $66,000 lost profit. Both were no money same-day double closings that I was going to supply the funding for. This was a seller default.
The second one was a $48,000 buyer default. Again, they just decided not to come closing most likely not for the reason they gave the investors. I couldn’t do anything about because I found out about it after the investor had walked away from the closings. Both could have been life-changing deals for these investors.
In many cases these defaults can be stopped, and the seller or buyer be brought back to the closing table if you know what to do and you can react quickly. Unfortunately, many decided to default at the very last minute, or at least that’s when you find out about it.
There’s an industry estimate that over 38% of all investor closings don’t happen. In my personal experience that failure rate is higher not because of anything I’ve done, but because it’s a real number.
I’ve been able to take a survey of failed deals and asked those investors what happened. The reason I have access to those is because of my transactional fundings when I que them into my system for a closing date. I follow-up and follow-up to find out what’s happening. Sometimes they’re postponed but other times when I follow-up they are no longer deals.
One of the videos you will be receiving goes into actual details,135 failed closings, and why each one of them failed. So, you can actually see real-world results. Now this is a hard-core reality. Don’t let yourself become another statistic.
Why do sellers cancel?
If they give you a reason, it can be as simple as they change their mind about selling.
Well, how are you going to react to that?
Will you just give in and say “okay”? Or are you going to stand your ground and say no?
If you say no, but then what?
Do you have to take expensive legal action with no assurance of success?
What about your Earnest Money Deposit?
Is that all you’re going to get back if your seller cancels?
Well, it doesn’t have to be because you could get more back if your seller defaults.
It’s all in the contracting as you’ll see shortly.
Now you have real solutions to the real problems you’re going to be facing in your real estate investing career.
A property sold is the goal of every investor and Realtor® everyone in the transaction comes out a winner – you as the investor, the original seller, your end buyer, closing agent, Realtor®, anyone else involved in the transaction is a winner.
But what happens when it’s not sold?
Everyone comes out a loser. You don’t have to let something not selling happen to you. Get started and get ready for the unexpected because these problems will happen, and they will kill your closings. There are solutions if you know what to do ahead of time.
What happens when your end buyer’s lender can’t close timely, and your seller doesn’t care? All he wants is to close because he has a higher offer waiting. While there’s always solutions, you need willing parties on both sides to agree. This agreement can be mutual or more importantly can be forced placed by legal action. I’ll discuss the options in the Course, but what’s most important is that you plan ahead and you’re ready when one of these problems happens.
Your power is in your contract.
Most investors use simple one- or two-page contracts with the intent that the seller or the buyer would rather sign a simple document then a long legal form. While these contracts work most of the time, it’s when the seller or buyer challenges it and you have to enforce your contract. That’s where the real problems start. When you add an attorney into the mix who works for the opposing side, your deal is surely dead, and you may have to pay the opposing side’s legal fees. You need to be prepared.
We even show you exactly how to get more than your end buyer’s earnest money deposit if he defaults. Very few investors even know about this proven contract strategy. Some the attorneys I had review it called it “devilishly clever, but profound.” Remember, trial and error is the most expensive form of education.
If you haven’t had happened to you yet, get prepared for black hat wholesalers. This is where another investor sees your wholesale deal being offered for sale and immediately goes to your seller and offers more money.
What would you do if your seller sells to another investor when you have it under contract? You going to be told by well-meaning people that just threaten to sue and they’ll come back to the closing table. Well, not hardly in this world.
What about filing a lawsuit?
Well, I have an example for you – what if it’s an attorney for an REO bank owned property who you’re filing a lawsuit against? It won’t be pretty. But I’ll show you a solution to bring sellers back to closing. I’ll even give you a personal example of how an REO asset manager tried to cancel my contract and what action we took to bring them back to the closing table kicking and screaming, but he closed.
Why can’t you get the Attorney General to prosecute?
Well, I’ve never heard him say anything other than it’s a civil matter and to go that route which can take years and by then your seller or your end buyer that went around you is gone.
Why not file a notice of interest?
They fail 95% of the time to even be recorded. For that reason, one of the things I’ve done is include a 32-minute video explaining closing issues, including how to properly file notices of interest, so they really work.
I’ve sold a ton of these deal saving e-books for a $197 with no bonuses but I want you to think about it. It’s worth 100 times that amount if it saves you just one deal and if you’re going to be in the business and this is going to be a profession for you, it’ll save you many deals in the future.
What I’m doing this for is to stop seeing investors being taken advantage of by other investors and by buyers and by sellers. So, for a limited time only, the entire Course, not just e-Book is $197.
I put it together in a 12-step format. You follow the steps, come out the back end and you’ll be a deal saving machine.
Here’s what’s in the course –
1. 34-page e-book. Again, it sold for $197 previously.
2. Five video trainings
3. Samples a very powerful purchase and sale contracts that one of the attorneys I had review call “devilishly clever and very profound.”
4. And Word documents for those contracts.
Remember I’m not giving you legal advice. You should always have these reviewed by an attorney. And if he says they don’t work or certain clauses don’t work, then have him put a clause in in his words, that does work. Because what’s so important with these contracts is the concepts of the legal issues of why they’re working. It is the concepts of why they work.
I’m doing this because it’s time these solutions are made available not just to attorneys but also to the public. What’s the inaction cost to you? It’s very simple. It’s an average profit loss of $21,400. Now’s the time to get ready, with knowledge and very powerful contracts.
Why not just call the seller and the buyer a lot?
Good communication works, doesn’t it?” Frankly, not in today’s world.
Knowledge is your superpower! You have the opportunity here to take advantage of it. One thing I want you take away from this particular presentation – it’s very simple and it’s something to be remembered in every transaction that you do – “Sellers are Liars and Buyers are Liars”
So, here’s my guarantee – if you haven’t lost a deal, you will.
It’s because you been lucky so far or you haven’t done enough deals. Now, if you lost a deal, you may not have even realized it.
I spoke to one of my most successful students who does over 100 deals a year. I asked him how many deals he lost annually, and he said I don’t think we’ve lost any. It’s because he wasn’t on the front line.
When he went back and reviewed the deals that he didn’t close, he realized that he lost 10% of all his deals that he could account for. That’s 10 deals minimum a year at an average profit of $20,000. That’s $200,000!
Now you may not make $20,000 on a deal, but. I don’t care. If you only lose $1500 a deal, that’s about eight times more than this course cost. No matter how hard you try, you will lose deals to one or more the 20 ways I disclose. The difference is now you can be prepared before it happens.
Still not sure?
Let me show you what it really looks like. I divided this into two parts. First, understanding the problems with specific solutions to the 20 issues that will come up for you of sellers or buyers defaulting.
In Step One I have a little introductory video, just says hi, here’s what you’re getting.
In Step Two, is the 34-page e-Book carefully reviewing the problems that you’re going to encounter and giving you solutions for every one of them.
Then I go into Step Three, which is an overview – an actual “Why Closings Fail” webinar with one of the most successful closing agents in the country. We deep dive into what the closing agents encounter and solutions for those issues.
Specifically, in this Myth Buster Video, these are the kind of things we talk about – squatters, title seasoning, deed fraud, LLCs in good standing, breaks in the chain of title, quitclaim deeds (look out for those guys), analyze how to protect yourself from deal theft (you may be shocked by the answer that she gives), how to legally do the NOIs, the gap period, moneylenders, junk fees, why you must pick your closing agents, can you do a Ron closing, land trust- their uses, quitclaim deeds – the issues with them as I mentioned, and much, much, more.
In Step Four is a video on “What Percentage of Deals Fail and Why.” It’s important that you see real life situations because one or more these will be happening to you.
So, the second part of the course is what I call “Preventative Actions” and the most significant preventative action you can take is to have very strong contracting first.
So, what I do is I go into what I call a sample Purchase Agreement, a 24-minute video and the actual contract itself in a Word® doc
Secondly, I go into a Sale Agreement – 22-minute video line item by line item – why they’re there and what you’re using them for.
In Steps 9 and 10, I go into an Assignment Contract. Now, if you have one or all of these, great!
If you’re happy with them, even better. What I suggest strongly is you look at these very carefully. That’s a six-minute video by the way
I know you can add contract clauses from these contracts into yours to make yours more powerful. But again, always have an attorney review these clauses before you use them, and if he says you can’t use them, then ask him to develop a clause for you that you can use because these solve real-life issues that you’re going to encounter.
Step 11 is another video that I made on “I can’t record my notice of interest.” It’s a six-minute video on “Why not and what you can do to make sure it gets recorded.”
And finally Step 12 is a Sample Notice of Interest. I want you to know ahead of time that certain states not only allow a notice of interest by another name, but they also actually publish them for someone to use.
While other states, call notices of interest illegal and they don’t allow them to be filed. And what I go over in this material is specifically how to file them where they can’t be filed.
Now’s the time to get started!
It’s your choice. Where we are in life and our destiny is the sum of all the choices we made. If you’re a beginning or experienced investor, now’s the time to make a decision that will help you ongoing.
Simply click the link below to become savvy about what to do when you face the loss of a deal. Can every deal be saved? No. Can most of them be saved? Yes, and that vast majority is significantly better by using one or more the 20 solutions I have for you in the materials.
So again, don’t ever be taken advantage of by sellers or buyers or most importantly, other professional investors that are going take advantage of your position.
Thanks very much. Click on the link below and get started now. Open a file folder on your computer, download the Course and Go through the material. Learn it and then save it for later.
I’m Dave Dinkel and I wish you limitless success in all that you do.