Questions to ask sellers

3 Replies

Hi all I’m new and trying to get into wholesaling. Ok quick question I saw a property up for sale that may be a good deal “for me as a wholesaler” but I’m not sure if the sellers are willing to assign contract or just sell the home straight out. How do I approach owners and ask this question? Thanks in advance

You don't, and that's not what wholesaling is at all.

You lock up the contract with the seller and you assign it to a new buyer.  The seller has no "say" in that assignment as long as your contract is proper.

With that said, you definitely need to educate a ton more, build a buyers list, etc. The worst part of the wholesaling business that ticks any professional REI guy off is seeing new people lock up contracts and then fail to close because they have no idea what they're doing.

You hurt people when you do this.  The seller may be counting on the money you offered in your sale in order to get someone in a nursing home or pay for cancer treatment.  It's not to be played with lightly.  

Ask them if they would be upset if you sign a contract with no intention of purchasing the property. 

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