ever had a wholesaler increase their sales price after you visited property?

3 Replies

Hi All

I talked to a wholesaler who basically told me he was raising the price 15k when he found out the original owner on the foreclosure property was no longer in the property just as I was about to make my offer. I had no way of verifying this one way or the other. It ruined my numbers for out of pocket expenses so I walked. He still has the property listed on his website after a few days at the original price. He also tried to get me to get him a 16k EMD when normal EMDs for properties like this aren't more than 5k. I would like to hear if anyone has had similar experiences. I am about ready to just start ignoring him and his listings. Would you work with such a person? He has a lot of listings but his behavior seems shady to me.

I would make sure if I was you I was totally researching that property completely on doing your due diligence and not allowing him to use his numbers. I think sometimes as wholesalers we under Market Homes so I don't know what his motivation may have been in this situation, but I would be skeptical.

@Daniel OKeeffe .IMO....pass on the deal...Integrity is key in any transaction. Listen to your gut...

Yes, I experienced with an investor, bidding on same property of interest.(he won bid(300) and tried to sell to me for 3K)..no go... It was frustrating but I confronted and it never happened again..can actually laugh about it now, but at the time, I was HOT!!!

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