BiggerPockets

buying property through a wholesaler

Wednesday, November 16

I have made an offer on a property through a wholesaler. is there any reason that we cant just close through the tilte company with the current owner and have the wholesaler paid from the owners proceeds. I would feel more comfortabel if the contract for sale were with the owner and not the wholesaler who does not own the proptery at this time. I have not trouble with the fee which looks to be around $5000 on a property that will sell for $23000 because i believe the property is worth what i am paying. also asking for $5,000 earnest money. this seems excessive. I have never paid more than $1,000.

I would appreciate any thoughts on this issue.

Comments

1. 

   Joshua Dorkin Reply
   6 months ago

   Michael - I think you'll get a better response by posting it on the forums...

2. 

   Michael Lauther Reply
   6 months ago

   Thanks Josh, I finally figured out how to post on the forum. already received useful responses.

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