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Updated over 8 years ago on . Most recent reply

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Cristopher Cristia
  • Lake Worth, FL
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How to approach a seller with a wholesale contract?

Cristopher Cristia
  • Lake Worth, FL
Posted

Hello guys. I am new to this idea of wholesaling and trying to understand it. I am confused about the initial sales pitch to a seller. 

1) Are you approaching the seller as an investor letting them know that you will market the property to someone else? 

2) Don't you need to put down escrow money to show the seller you are serous? 

3) Why doesn't the buyer just look up the property address on the contract, then contact the seller directly cutting you out and saving himself some money?

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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,551
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

Here is the EASY way to work a deal. Close on the property and then market it. Sellers want a sale. Lots of these unlicensed brokers use trickery and deception as their usual strategy with BS clauses such as "subject to partners approval", etc. IF you can walk into a property, tell the seller you don't want to buy it but want to put it under contract and then sell the contract and then they agree, you get an AAA+ rating for marketing. That is not how most unlicensed brokers work. It all boils down to integrity. There are many BP posters that play these games and promote them. If you can buy it cheap enough to flip, you may also want to consider holding the property. Got funding? If not, find funding first OR ask the seller to carry it. 

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