Wholesale deal under contract with another wholesaler

3 Replies

I have a property that has been passed to me and my partner. The thing is in order to get the property in my buyers hands I have to pass my contact to that wholesaler. The wholesaler that gave us the property address is also a middle man to the contract holder so basicly that puts 2 people in front of the actual seller.. not sure if I should pass my contact to them or work out some other arrangements. Any advise would be greatly appreciated.

hey boss don't be worried about how many people are in the middle. You may have infinite amount of assignments on one deal. I believe our problem is I don't think we understand the exact structure of how you are receiving the property. could you please break it down a little more simple? thank you

@Kris Haskins 

Basicly we were given the address and few pictures Sq footage and the cost there wanting to sell it at, the arv and how much is the cost to finish. If we can find a buyer then we pass the buyer to the one that told us about the property they are in direct contact with the wholesaler that has the contract on the home.  

Hey @Gabriel Ayala , 

I understand your reluctance to pass your buyer's info on to the other wholesaler. You can get a non-circumvention agreement, otherwise known as a NCND, plus a fee agreement filled out, outlining the compensation you are entitled to. A NCND basically states, that whatever, prospect you present to the seller (or wholesaler in this case), is your client and they do not have the right to conduct business with them without you. A fee agreement will outline the amount of compensation you are entitled to for producing a ready and willing buyer.  

These two things should have you covered. I have used them from time to time here in Orlando,Fl. Best of Luck!

Medium virtuoso logo print ready reference whiteJeff Joachim, Virtuoso Investment Realty | [email protected] | 407.205.9966 | http://www.VirtuosoInvestments.com