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Karah Collins
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Wholesale contract with no option for contractor walkthrough

Karah Collins
Posted Nov 17 2020, 10:53

Hi all! Would love to hear your perspectives on this.

I am thinking of taking a deal from a wholesaler and this would be my first wholesale deal in addition to first time using hard money.

I’ve only viewed the property via photos and when I asked whether I could coordinate a contractor walkthrough to get his estimate on repair costs, was told this could be difficult because the current owner had been burned by a wholesaler before.

Part of the wholesale contract has a provision for a full inspection. While this is good to establish a scope of work, it does not establish the price of said work. IMO the repair estimate of a wholesaler without a construction background could deviate significantly from the actual cost.

What would you all do?

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