Why do wholesalers want to close so quickly?

[Lee Haenschen]

I've got 3 local wholesalers that e-mail their deals on a regular basis. 2 of the 3 have in the e-mail MUST BE ABLE TO CLOSE IN 7 DAYS.

Why the rush? Is that so you don't have enough time to find issues with the property? 

I understand if they tell the home owner that they can close quickly.....but why would a distressed homeowner want to be pushed out of their house that fast? Generally people need time to find another home! or even just time to compute what is going on. 

[Jay Hinrichs]

Just look at their marketing to get the owners to tie up the property they lead with ..  If U do business with me i can close in a week.. so sellers say ok and now wholesaler is telling you 7 days..   and reality is no one closes that quick.. they try but few can make it espeically if your in an attorney closing state.. those guys are not like west coast titel and escrow companies that have the title plant all in digital format and can pull title in 24 hours and be ready to close.