Reviewing the wholesale process

[Account Closed]

Im now starting to look for properties, and I wanted to use this post as a way to review the "process" of doing a wholesale deal. So here goes...
- I find a potential deal, do the research/comps etc and it is in fact a potential profitable deal.
- Put the property under contract
...this is the stage Im still a little unsure about next

Since I already have buyers lined up looking for properties in my area, do I just go ahead and fax over my contract to the title company so they can pull title right away - or wait until you know who the buyer is and youve assigned the contract.

[Scott M.]

I would find out what your buyers are looking for first - then I would find the property to match what they need.

Find the deal - do your research (you know my feelings on comps :) )...to me this includes going to the register of deeds and doing your own title search - you can find out what title companies can find out.

Get it under contract

Get your buyers out there and interested

Now come out of pocket for a full title search - the whole deal can be contengent on it - but I wouldn't bother my buyer until I have seen that title is clear and use a title company as back up - this will cost about $250-$300 for a full title search so i would wait till a buyer is interested

Get it closed.