What topics should be addressed on a wholesale call with seller?

What topics should be addressed on a wholesale call with seller?

Investor · Santa Monica, CA · Member since 2021 · 3 posts · 0 votes

When speaking to a potential seller what should be addressed regarding the property before making an offer? (offers will mostly be made sight unseen) 

We can find the basic information found on tax records and public databases, but what else do we need to know specifically before making an offer?

Here are some that come to my mind: motivation to sell, recent renovations, condition of the property, what else?

When does asking what type of offer (all cash or financing) come up? Thank you 

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  • Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes
    5y

    You mostly covered everything in what you said above...motivation, status/condition of the property, if they have a tenant you need to get all those details.  Then from there, if you are doing virtual wholesaling, ask if they can send you pictures.  Many of the sellers I deal with can't send pictures, so I have a runner (usually via Craigslist/Facebook) in every city that I work, and I pay a $40 flat fee to go take pictures and a video.  You might as well ask them on the first call if they prefer all cash at close, or if they are open to seller financing in order to defer capital gains, etc.

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