Wholesale contract with no option for contractor walkthrough

[Karah Collins]

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?

[Tara S.]

Give the contractor the address and have them give you a rough number from what they see online and the type of finishes you want done he wont be able to give you an itemized estimate but a good contractor can look at the sqft and the general information and give you an idea on the renovations. ( Also pay your contractor for this estimate, when you do that they take their time and give you a more accurate number, my husband is a contractor lol)