Updated over 10 years ago on . Most recent reply
Wholesale/ Bay Area
Hello Everyone,
I wanted to find out if anyone can help me out with a frustrating situation. I do wholesale in the Bay Area and I happened to find 3 SFR homes in the Antioch area owned by the same person, all 3 home meet criteria and price of what my cash buyers are looking for but the problem is after making on offer on all the 3 properties was not my offer price but the contingency of assigning the contract to a buyer.
I have the buyers but most buyers want me to have the property under contract before even considering to take a look at the property. Does anyone know what I should do in a situation like this? or has anyone been in a situation like this that I can learn something from?
Most Popular Reply
@Yasmin Swaggerty have you thought about reaching out to your cash buyers with the deal and agreed price to see if any of them want it? If one of them wants it, they can write an un assignable contract to purchase it directly and still pay you your fee. The success of this strategy depends a lot on the integrity of your buyer, a short-sighted buyer could stiff you but I'm sure that would be the last deal you show them!
A good number of the successful wholesale deals that I've bought were brought to me before the wholesaler had a contract with the seller and we worked together to make sure the deal was successful. A lot of wholesalers want to tie up deals and then send it out to a big buyers list and take the highest bidder. Sometimes that works, but other times working as a team with a very capable buyer can win the day.