How do I get a home undercontract if it’s already on the market?

Wholesaling
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How do I get a home undercontract if it’s already on the market?

Chazz Myles
Flipper/Rehabber · Los Angeles, CA · Member since 2020 · 5 posts · 0 votes

Struggling to figure out how to put a property under contract if the property is already on the market through an agent

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John Teachout
Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
6y

Are you willing to close on the property if you don't find another buyer? Not sure how an on market deal would have any upside room in it for you.

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  • Andrew B.
    Rockaway, NJ · Member since 2016 · 2k+ posts · 2k+ votes
    6y

    @Chazz Myles you’ll have to make an offer to buy it bro.

    1Reply
  • Chazz Myles
    OP
    Flipper/Rehabber · Los Angeles, CA · Member since 2020 · 5 posts · 0 votes
    6y

    @Andrew B. Ok, and then put the property under contract with seller right?

    0Reply
  • Eric X.
    Real Estate Agent · Naperville, IL · Member since 2014 · 196 posts · 130 votes
    6y
    Originally posted by @Chazz Myles:

    @Andrew B. Ok, and then put the property under contract with seller right?

     You should really talk to a buyer's agent.  It sounds like you can benefit from using an agent that can help you make an offer and put it under contract.  

    1Reply
  • Andrew B.
    Rockaway, NJ · Member since 2016 · 2k+ posts · 2k+ votes
    6y

    @Chazz Myles once the seller accepts your offer, it goes under attorney review. Once that’s done, you’re officially under contract.

    You should have a buyers agent helping you through this process.

    0Reply
  • John Teachout
    Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    6y

    Are you willing to close on the property if you don't find another buyer? Not sure how an on market deal would have any upside room in it for you.

    2Reply
  • Craig Jeppesen
    Rental Property Investor · Chubbuck, ID · Member since 2018 · 532 posts · 466 votes
    6y

    Get your agent to submit an offer, simple as that. Then start negotiating with the counters if any.

    0Reply
  • Barry Pekin
    Specialist · Purcellville, VA · Member since 2015 · 1k+ posts · 841 votes
    6y

    @Chazz Myles,

    Work on marketing for off-market deals.  Yes, you can make deals with listed properties, but that's not where your best bet is.

    2Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y

    Yeah my lil padawan.

    Don't waste your time with that. Like that old timer above me said...

    Off market deals is where the Leprechauns throw beer orgies. There is where you want to be.

    1Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Barry Pekin:

    @Chazz Myles,

    Work on marketing for off-market deals.  Yes, you can make deals with listed properties, but that's not where your best bet is.

     In case you didn't notice, Straw Berry Pekin,

    I called you an old-timer.

    Whatchagonnadoo bout it!

    0Reply
  • Siale Havili
    Wholesaler · Sacramento, CA · Member since 2020 · 30 posts · 1 vote
    6y

    @Jerryll Noorden

    Hey Man I tried to connect earlier for our session n it never let me connect. Been waiting for almost a week n it never happened. What can we do?

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Siale Havili:

    @Jerryll Noorden

    Hey Man I tried to connect earlier for our session n it never let me connect. Been waiting for almost a week n it never happened. What can we do?

     I got you homes!!

    ;)

    0Reply
  • Siale Havili
    Wholesaler · Sacramento, CA · Member since 2020 · 30 posts · 1 vote
    6y

    @Jerryll Noorden

    ✊🏾✊🏾. Thanks

    0Reply
  • Barry Pekin
    Specialist · Purcellville, VA · Member since 2015 · 1k+ posts · 841 votes
    6y
    Originally posted by @Jerryll Noorden:
    Originally posted by @Barry Pekin:

    @Chazz Myles,

    Work on marketing for off-market deals.  Yes, you can make deals with listed properties, but that's not where your best bet is.

     In case you didn't notice, Straw Berry Pekin,

    I called you an old-timer.

    Whatchagonnadoo bout it!

    Oh, seriously, dude?  You can't do better than that?  Old-timer?  I am immortal!  I control the elements and the animals.  Do not doubt me, for I am the alpha and the omega!  Ok, so not God (please, please, please don't strike me down Lord!).

    2Reply
  • Will BarnardPro Member
    Moderator
    Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
    6y

    If you are attempting to wholesale MLS listed deals, you are likely going about this business model in the wrong way. You need motivated home sellers direct if you expect to be successful in wholesaling.

    Podcast Guest on Show #130
    0Reply
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