Does a wholesaler have to meet up with the seller?

Does a wholesaler have to meet up with the seller?

Rental Property Investor · Columbus, OH · Member since 2019 · 50 posts · 32 votes

I am wondering if I see a house I want to put under contract, do I put it under contract by meeting up with the seller at the property and signing the document and then would I need to go there to take pictures of the property?

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Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
6y

I imagine if your intent is to “assign your position in the contract” then you will probably need to somehow show the prospective buyers the house. Photos would be helpful, however check if that is legal in your state. Also the seller will need to sign the contract, which I assume can be done electronically or in person.

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  • Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
    6y

    I imagine if your intent is to “assign your position in the contract” then you will probably need to somehow show the prospective buyers the house. Photos would be helpful, however check if that is legal in your state. Also the seller will need to sign the contract, which I assume can be done electronically or in person.

  • Stephen J DavisBusiness Member
    Rental Property Investor · Houston, TX · Member since 2017 · 529 posts · 467 votes
    6y

    As a rule I like to meet the seller and build rapport with them. I believe you will always get a better deal this way. By being credible, honest and building trust, if anything goes wrong, it is easier to solve it.

  • Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
    6y

    @Braeden Henry how else are you going to evaluate the property with out going there unless you have a team in place to do it for you.  ?  Of course you/ someone  needs to go, 

  • Rental Property Investor · Columbus, OH · Member since 2019 · 50 posts · 32 votes
    6y

    @Brian Pulaski thank you!

  • Rental Property Investor · Columbus, OH · Member since 2019 · 50 posts · 32 votes
    6y

    @Stephen J Davis thank you!!

  • Rental Property Investor · Columbus, OH · Member since 2019 · 50 posts · 32 votes
    6y

    @Bob Prisco you’re right thank you!

  • Rental Property Investor · Columbus, OH · Member since 2019 · 50 posts · 32 votes
    6y

    @Stephen J Davis you’re totally right on this

  • Rental Property Investor · Columbus, OH · Member since 2019 · 50 posts · 32 votes
    6y

    @Bob Prisco would I need to meet with the potential buyer to sign the contract?

  • Rental Property Investor · Columbus, OH · Member since 2019 · 50 posts · 32 votes
    6y

    @Bob Prisco how does the whole contract exchange part work?

  • Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
    6y

    @Braeden Henry no you do not need to meet with the buyer, ( if the seller is willing to allow the buyer to go in. ) this is what email is for. You really need to get to a networking meeting and learn . 

    Good Luck 

  • Rental Property Investor · Columbus, OH · Member since 2019 · 50 posts · 32 votes
    6y

    @Bob Prisco I’m super new to all of this. Thanks for the help!

  • Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
    6y

    @Braeden Henry I know, so get off here and go to meetings, learn then apply what you learn, 

  • Will BarnardPro Member
    Moderator
    Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
    6y

    Locking up a contract with a seller, marketing the property and getting. A fee for it is illegal in OH and all states.

    If you want to wholesale legally, you need to get a real estate license or line up your buyer in advance, then partner with him or her. 

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