[Wholesaling] you do inspection first or after?

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Do you do the inspection first then send an offer or do you send an offer for __X__$ then do an inspection and get the real price you will pay the seller?

[Canesha Edwards]

@Fili Aguirre

Are you viewing the properties before you make an offer?

Before I make an offer on a property to wholesale, I personally walk the property myself. This allows me to get a ball park figure of the needed repairs. If I feel like it’s a deal, I make an offer.

In my offer, there are several contingencies.

1. We typically ask for a 10-15 business day due diligence period. However, if the owner doesn’t provide our property description checklist, leases, or whatever else documents we requested, the due diligence period is delayed by 1 day until we receive the requested items.

2. Mold: since we’ve had problems with mold in the past, our contract now states that if there is any mold found at the property, purchase price is reduced by the amount of the mold remediation or both parties are free to void the contract.

There are others but these are the main two.

Also, even though we sell the property as-is, we offer our end buyers 3 days due diligence so they have the opportunity to view and get an inspection done if they property if they choose. The main thing to remember with wholesaling is that it’s essentially about the seller and the buyers. Too many times I’ve seen wholesalers be greedy and end up losing deals.

If you have a great deal, make it great for everyone, not just yourself. Pass discounts along to your buyers and you will do repeat business with them.

Just my 2 cents.

Canesha