I have a question about the wholesale process
I’m curious if the inspection happens before or after there is a written contract? Like let’s says i find a motivated seller and they accept my offer over the phone and we set up an appointment to meet at the property, i’m not a contractor so i can’t accurately know what repair costs are going to be so would i sign the purchase and sale agreement anyways using a ballpark rehab estimate or would i notify my cash buyer that they have accepted my verbal offer and then they do their own inspection of the property before any contract is signed? i figure it might not really matter since there is an inspection period before the purchase and sale agreement is signed but that raises another question, aside from the purchase and sale agreement so you just rely on the verbal offer agreement until after your cash buyer gives you the go ahead on the deal? really confused and i probably sound dumb but i’d appreciate some clarification.