Anyone every wholesale deals on MLS? How that work out?

6 Replies

Hey All,

I'm curious anyone ever wholesale a deal on MLS? I'm asking because I ran into a seller and they have the home on MLS however he wants a quick cash deal. The thing is, he said that he will knock off 20K or more with quick cash QC deed. Anyone ever been in this situation before?

@Tenisha Walker I wholesale off of the MLS but I never do a QC deed for any of the deals because I need to make sure title is clear for the end buyer. You can always talk to the agent and let them know you have engaged in negotiations with the seller and want to be sure that title is clear. If the agent is hard to reach, you can contact a title/escrow company and have them run a title report on the property to make sure that it has clear title. In my experience, most people want to do a QC deed because there is something on the title that will impede the sale from going through. Just make sure you do your due-diligence and have your buyer ready.

Good luck, 

Louis

@Louis Davis sounds good thanks for the information and agreed. The seller said they didn’t owe anything but I’m surely gone look because it’s interesting how they said that they will take off certain amounts based on what is owed and etc lol. People say anything for fast cash.

Lots of people wholes off MLS. Very few have any success. Fewer still have long term success. The whole reason a seller lists will a Realtor is to sell RETAIL. There are always some exceptions, but there are more receptive places to look for deals

@Tenisha Walker ,

I totally agree not to go for a QC deed for the same reasons stated above.

But, keep an eye on the listing. Find out how long the agent's contract is with the seller. If they can't sell it on the MLS, and the contract with the agent expires as a result, you can go directly to the seller. Find out what their motivation is and go from there.

If it sells, call the seller back up.  Congratulate him on the sale.  Oh, and ask if he has any other properties he might want to sell, or if he knows anyone else that needs to sell their house quickly.