Wholesale deal site unseen

6 Replies

I have a deal on the ropes and the seller is fine with signing the purchase agreement but they don’t have the key and doesn’t want to even come out to the property at all. They do not want to get emotionally attached because this home is sentimental to their family. I will get the house at a good enough deal with plenty of room. Any suggestions on wholesaling a home without seeing the inside and not being able to give an end buyer access?

Have the seller send a locksmith over to open the house, and have the locksmith make a key (or take a new lockset with you, and change it on the house with written seller's permission). I think it would be worth the call to enable you to get a much more accurate idea of what you're dealing with, so you can sell it more knowledgeably and (pace Mr. Paicely) at a higher price.

Hi Broaderick: I agree with David, get a locksmith to let you in. It appears there is absolutely no reason for you not to see the house. And to wholesale, most investors want to know: 

  • your sales price
  • needed repairs 
  • ARV

These are all things you, as well as your buyers, need to make an informed decision. If the seller won't give you access to the property, you should have given a much lower offer to her just like your potential buyers will be giving you without access.

Look inside!

How big of a discount are you getting it for? Give us the numbers.  

If he won't even allow you to do that, then you better have a HUGE margin. 

The seller is asking you to buy a pig in a poke, if she doesn't want to even let you get in by locksmith. There's possibly something very wrong, like a dead body in the house. (Kidding. Probably.) And even if there isn't, you are taking a big risk. You should insist on access.