Buying from a purchaser who has exchnaged but not yet completed

[Mike82]

I've been offered an investment opportunity to purchase. I have cash funds available and experienced in buying investment properties, however, the purchase is from a company who have exchanged on the property with a long stop completion date so I will effectively be purchasing prior to them completing. Any advice on how this differs to say, a contract assignment on a new build property? Also, interested in understand how I should set this up with my conveyancer.

Thanks,
Mike

 

[Longterminvestor]

Is there any reason why the "owner" is looking to flip the property so soon after agreeing a sale? There is nothing wrong in flipping a property to make a quick profit but in your shoes I would be keen to know why this situation has arisen - if they are struggling is there scope to negotiate a better deal for yourself?

Whatever you decide, ensure you take legal advice asap to ensure everything is watertight.

 

[nmb]

Just make sure that you are covered from an escrow angle and a legal angle - do you know why they want to flip the property?

 

[Longterminvestor]

Any more feedback on this one? Intrigued as to why original investor looking to flip the property so quickly.