NEED ADVICE ASAP !!!

[Jake Berwind]

Im a wholesaler and A realtor reached out to me with a potential deal and has agreed to show it to me Friday before it is listed. Realtor says the house was appraised for 150k and the owners are sticking to it and are “not interested in a low ball offer” Houses in the area consistently go for 200-215k Is this even worth me going to see??? Is this even considered a “deal” if the only thing they are going to take is what it’s appraised for??? Any wholesalers have any experience working with realtors before and been in a similar situation???

[Chris Turner]

Hey Jake.  You did not give a lot of details about the situations but from what you did give I would highly suggest that you walk away.  

If a realtor is calling you then the sellers have already signed an agreement with him, with his broker actually if you want to get specific. They can not then legally sign another contract with you.  You would be buying this house from a listing agent.  You will be required to show a proof of funds if you do decide to make an offer otherwise your offer will be rejected. Also these people do not sound motivated at all which is your #1 criteria if you are trying to wholesale.  

I love it when people say that the house was appraised for "XYZ.''  A no-bs very detailed appraisal from someone who is licensed to do so in my area goes for around $1,000. Ask to the see the appraisal from their licensed real estate appraiser that was done anytime this year.  Bet you a Coke they can't.

Treat this property as if you were buying it off the MLS because that is exactly what you would be doing.

Just my 2 cents.