How to handle wholesaleing questions from potential buyers?

3 Replies

New to this game but I do understand how wholesaling works in principle but had a couple of questions in the negotiation/ closing portion.

1. If the potential buyers know you are wholesaling the property , do they press for how much you have the house under contract for ?

2. At closing do they see how much more they paid for the property than you did. Does this cause any issues at closing with buyers wanting to renegotiate the deal?

Just seems to me that a lot of issues might arise at closing when buyers see how much they paid vs what you paid?

Thanks in advance for any information and i hope my questions are relevant and presented in an understandable way.

1) If they press, simply tell them the sales price. I would never tell an unknown what my contract price was.

2) If you do an assignment of contract, yes they will know and yes it can cause problems. People can be greedy, and some don't want anybody else to profit. Simple fix is do a double close, nothing gets revealed to your buyer, only what they paid.

@Brian White as a buyer I dont care how much you are getting paid as long as I'm going to make money. If your buyer gets aggravated with you, it's time to find a new buyer. If you are able to make 10, 15, or even 20 on a deal, then good for you. Your buyer should be more concerned about building a long term relationship than how much everyone is getting paid 

Originally posted by @Devan Mcclish :

@Brian White as a buyer I dont care how much you are getting paid as long as I'm going to make money. If your buyer gets aggravated with you, it's time to find a new buyer. If you are able to make 10, 15, or even 20 on a deal, then good for you. Your buyer should be more concerned about building a long term relationship than how much everyone is getting paid 

I would second this from those I have talked with regarding the subject.   As long as the end buyer stands to make a profit that he is happy with, he could care less how much you make.  If he wanted to make more he could always spend more time on marketing.