Updated almost 5 years ago on . Most recent reply
Approaching potential sellers as a wholesaler
Hello all, I'm a newbie in the wholesaling game about to approach my first potential deal. I have done all the research and ready to reach out to a potential seller, however I don't know the proper way to describe my position. They are willing to sell, but I cannot buy it myself so I do not want to get their hopes up if none of my buyers come through. They've given me a price, but I need to talk them down almost $15k for the deal to make sense.
Long story short I am confused on how to explain and/or negotiate an option period to give me time to find the right buyer. Should I just disclose that I plan on wholesaling they're property? Will that scare them off or aggravate them? Please let me know how some of you approach sellers and what has worked for you.
PS. I would love to get your take on whether I should pursue a double closing or use a contract. Are there are any basic contracts available through bigger pockets?
Cheers,
Sawyer Scott