[WHOLESALING] do you make offers BEFORE looking at the property?

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[WHOLESALING] do you make offers BEFORE looking at the property?

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Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes

[WHOLESALING] do you make offers BEFORE looking at the property? If you see a house on zillow that you might wholesale, do make offers before looking at the property?

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Jonathan BombaciBusiness Member
Real Estate Agent · Lowell, MA · Member since 2019 · 1k+ posts · 1k+ votes
7y

I'd say nope unless you already have a proven system in place. Go out meet the owner understand what it is that they need and take the photos you need to try to find interested parties in buying the property. Fact of the matter is we still need to get into the house to determine the condition and ultimately how much it is actually worth. 

At least that is my opinion. That being said some large companies will put out hundreds of offers at very low prices without ever seeing them but for them it's just a numbers game. 

Goodluck wholesaling can be fun just make sure you understand any and all laws in your area, MA has a few that wholesalers need to be aware of. I'm not sure if other states have anything. 

[email protected]978-710-8611
Candor Realty4.760 Reviews
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  • John Teachout
    Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    7y

    Wouldn't that offer be meaningless? What would it be based on, some pictures?

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  • Jonathan BombaciBusiness Member
    Real Estate Agent · Lowell, MA · Member since 2019 · 1k+ posts · 1k+ votes
    7y

    I'd say nope unless you already have a proven system in place. Go out meet the owner understand what it is that they need and take the photos you need to try to find interested parties in buying the property. Fact of the matter is we still need to get into the house to determine the condition and ultimately how much it is actually worth. 

    At least that is my opinion. That being said some large companies will put out hundreds of offers at very low prices without ever seeing them but for them it's just a numbers game. 

    Goodluck wholesaling can be fun just make sure you understand any and all laws in your area, MA has a few that wholesalers need to be aware of. I'm not sure if other states have anything. 

    [email protected]978-710-8611
    Candor Realty4.760 Reviews
    WebsiteView Page
    2Reply
  • Briannan Burns
    Investor · Birmingham, AL · Member since 2019 · 42 posts · 11 votes
    7y

    I can't say that I would, just because I want to build trust with the seller, and I feel as though if I were to make an offer before actually seeing the home, I may need to tweak the price lower afterwards, which may cause upset, distrust, and hesitancy.

    I would also be afraid that making an offer without seeing the house first could cause the seller to be less likely to back down from the original offer, even if the inspection proves the house isn't worth the agreed upon amount. "Well, you told me that you could do 75k! Why would I take 35k?"



    However, I have also heard people say that this is okay, as long as you have a contingency in place that allows you to back out of, or change, an original offer based on inspection. Just ensure that the seller fully understands this contingency & that they agree without hesitancy.

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