Any advice on how I can weed out the bad apples quickly???
Require proof of funds earlier in the conversation.
I have never bought a property without the seller giving me the address. How can I as a buyer research the property and make a decision to buy based on the numbers. The seller saying it's good numbers tells me nothing. I'm confused why giving the address to a potential buyer makes them a tire kickers. As a cash buyer I don't have time to play 500 questions game with a seller.
Address? Why on earth would you need to know the address of the property the "seller" is apparently "selling"? Shouldn't buyers just jump at the numbers and send a check? That's what the 15000$ seminar said they would do! Surely they weren't lying?! LOL
Are you attempting to wholesale the property? Rehab it? Live in it? @Account Closed
@Doug W. I am attempting to wholesale it.
@Clifford Paul I think I was inclear the way I stated it. When I say ask for the address basically they know that I am a wholesaler and they ask for the address to then contact the original owner to haggle my price or x me out of the deal all together. Although the seller is under contract with me there is a clause in there that states they are able to get out of the deal if they see fit. This is just a personal experience I have had. I myself have no problem giving potential buyers all the info they need. But some are just shady.
@Jacque Sacramento no negativity please. Nothing about my numbers are suspicious. I have gotten paid for deals before but am still new and learning so if you arent offering advice to help then please dont taint my question by insinuating that its a shady deal. Thanks!
Why does your contract say the seller can cancel for no reason?
Buyers will need to know the address so they can do some research. As a wholesaler, I would never believe what another wholesaler (or seller) tells me in regards to the numbers lol
I'm confused why you have a clause that lets the seller cancel anytime. Then what's the point of the contract?
You said it's 40-50k profit but I'm not really seeing the math. Did you consider buyer's financing cost, realtor commission and closing costs?
To answer your question:
I know serious buyers already who will see the deal first. If someone new is interested, I'll give them a call and talk about what they're looking for, their experience, how they are financing, etc. If they are a tire kicker, you'll be able to tell. Also, like Chris said, you can ask for POF.