Door Knocking Process

[Melissa Hoffman]

New wholesaler here! I'm looking to do some door knocking and I'd love to hear from some experienced wholesale door knockers. As far as the sales aspect of it, I feel like I am pretty well prepared. I've worked in sales for several years and I'm comfortable using presumptive closings, embedded messages, etc. What I have questions about is the PROCESS itself. 

So, first - I have the initial conversation of "I'd like to buy your house..."

Then....Do I make an offer on the spot , even though I am not experienced in estimating repairs? That sounds risky to me. Do I give them an approximate estimate? Do I call a buyer that I know would have interest?

Do I put it under contract that day? If so...how?  Then what...?

Someone told me that I needed to file a notice of interest on the property. Is that correct? They said that if not, someone could come in and offer them more money or something, but I thought once it's under contract, they can't back out. 

Thanks!

Melissa