Hey, it's Terry Norton.

Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout.

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I just purchased a property from a distressed seller in Texas who had a horrible experience

with a wholesaler who attempted to do a novation with their property.

All of that fell apart.

I stepped in, cleaned up the mess, and helped the seller.

I'm going to break down what that wholesaler did wrong, the mistakes they made so that you

can learn from this and not do the same thing this wholesaler

did. All that and more coming up.

So first I want to break down the sequence of events and how I became involved in this transaction.

And then I want to break down their contract and show you exactly what they agreed to do with this seller.

And then what I did instead and how I actually solved the problem and helped the seller out.

So this was a seller that follows me on my personal Facebook page and they're really close friends with my parents.

I actually grew up with their kids. I've known her a long time. So she reached out to me and she said, Jerry, I think I'm having a bad experience with a wholesaler. Can you help me? So I said, well, let me take a look and see if there's something I can do to help you. So she sent me the contracts that she had signed with this wholesaler. And the wholesaler was attempting to do a novation.

And I said to her, I said, this is a novation. Do you know what that is? Did they explain that to you?

She said, no, I don't know what that is. All I know is a real estate agent showed up at my door,

and they listed my property, and they wanted into the property, and they wanted me to allow

people into the property. I said, absolutely not. And here I am frustrated and confused and don't know what's going on. So I said, let me take a look at your documents. I took a look at her documents that she had signed and I explained to her. I said, look, if this is not what you want to do, these are the steps that you need to take. I walked her through how to terminate that agreement, how to get it in writing. And I said, you know, that's what you need to do. Let me know if there's anything else I can do. So then I didn't hear from her for a few weeks. So she reaches back out to me a couple weeks later. And she says, okay, I did everything you said. I've got the termination in writing.

And I'm out of the deal now.

Hi, sweetheart.

Okay.

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