Quickest way to get escrow instructions out to seller on a wholesale deal
I've been wholesaling for a bit now, and my current process is:
1. Get purchase contract signed by seller
2. Find new buyer, assign contract & get their EMD in escrow
3. Escrow instructions then go out to the seller with the new buyer's name
I've noticed that the lag time caused by item 2 (usually a week or more) causes some sellers to get antsy (I suspect I lost a decent sized deal recently because of this).
Basically, I'm looking for a quicker way to get escrow instructions signed by the seller (i.e. right after I get the purchase contract back signed); I feel like this will make everything "official" in the seller's mind & put them at ease. Is this possible, considering I'm not actually going to be the end buyer? I'd be sending out instructions before I actually have a buyer- so who would show as the buyer on the instructions?